The Auctioneer's Says Sold, Now What Happens?


When the Auctioneer Says “Sold,” the Job Is Only Half Done

You own a beautiful 160-acre farm. You hire an auction firm to sell it. The advertising runs for six
weeks. The signs are up. The promotion is done. The crowd shows up. The bidding happens.

Then the auctioneer says, “Sold.”

You had a good sale.

So now what?

My philosophy has always been, when we say “sold” at an auction, we are only half done.

There are still several things that can go wrong, or at the very least, make the process harder.

Can the buyer get their money together in time to close?

Are there title issues that unexpectedly show up?

Are there survey issues that jump up and bite us when we were not expecting them?

All of these things, and more, can usually be handled carefully and gracefully by an experienced real estate broker and auctioneer. But if the broker does not have the experience, the process can start to flounder. Then you have a real mess on your hands, especially if the buyer says, “I’m not closing until these items are fixed.”

What happens behind the scenes is what makes a successful real estate closing work.

The auction itself is exciting. It is fun to watch the process unfold. But in order for that transaction to go smoothly, there is an immense amount of work that has to happen behind the scenes.

That work matters because the owner usually wants one thing: a very large check and a smooth closing.

If you have a farm that you have been thinking about selling, or if you simply want to talk through your options, give me a call. My first consultation is always free, and there is no obligation.

Brad Neihouser
765-427-5052
bneihouser@shook.com

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