Frequently Asked Questions

Real Estate Personal Property Benefit Commercial Farm & Ranch Senior Transitions Online Auctions

Real Estate

Does "as-is" mean I can't have an inspection or appraisal?

No! You absolutely can arrange for any inspections and or appraisals you feel necessary. There are pre-arranged open house dates for every property
-but are happy to assist in arranging alternative dates for viewing if necessary. The term "as-is" simply means you are buying the property in its present condition and that the sale is not contingent upon any repairs or updates you would like to make.

What is a Buyer's Premium?

A buyer's premium is a typical fee that is a set percentage of the winning bid. Learn more auction terms here.

What does "Cash Only" mean?

Cash only means the terms of the contract are not contingent upon any approval for financing. On the day of auction, earnest money can be paid with cash, check, certified check, or cashier's check. On the day of closing the balance must be paid with a certified check. Personal checks or cash are not accepted at closing.

What is a multi-property auction?

Think of a Multi-Property auction as a type of trading floor for real estate. We conduct these events frequently for both residential and commercial properties. Our residential Multi-Property Ballroom Auction Events occurs approximately every 45 days and typically offers between xx and xx properties. This event that attracts real estate investors and home buyers alike.

What is a reserve?

A reserve auction is a listing in which the seller has a low-price in mind that they are willing to accept. If bidding does not reach this amount, the seller can choose not to sell. Learn more auction terms here.

Do you only sell distressed real estate?

This is an old myth that does not hold true regarding auction. The vast majority of the property we sell at auction is your average to higher-end real estate. While we are able to create solutions for sellers with distress situations, this is by no means the most common scenario we see.

Personal Property

Do I have to inventory my items before you auction them off?

We tell our clients that they can do as much or as little as they like. However, we have a team of over 25 auction professionals and are equipped to handle every step of your auction from start to finish.

Where will my auction be held?

Our agents will arrange a consultation for you and your property with no cost or obligation to you. At that time they will discuss what solutions best fit your needs. Sometimes we do auctions live and on-site and other times an online only or off-site location is better suited for your property.

Should I sort through and clean my items before my consultation?

If there are items that you know you do not want to sell, just let our agents know. Otherwise, we recommend not disposing of or cleaning your property until we have completed an evaluation.

HOW FAR IN ADVANCE DO WE NEED TO SCHEDULE OUR BENEFIT AUCTION?

Scheduling conflicts can be a limiting factor. We encourage organizations to contact us with as much notice as possible. If you have an event planned, give us a call today and let's discuss availability.

Benefit

HOW FAR IN ADVANCE DO WE NEED TO SCHEDULE OUR BENEFIT AUCTION?

Scheduling conflicts can be a limiting factor. We encourage organizations to contact us with as much notice as possible. If you have an event planned, give us a call today and let's discuss availability.

WHAT TYPE OF ITEMS SHOULD WE OFFER?

We can give a more educated answer to this after discussing your event—but in general, we find the experience packages do well at benefit auctions. For example, if you have a restaurant gift card, a weekend hotel stay, and event tickets—put them together as a package rather than as individual items. Your guests are likely to bid higher for the package than they will separate items.

HOW MANY ITEMS SHOULD WE HAVE FOR OUR CHARITY AUCTION?

Is your event a benefit auction event, or is the benefit auction part of your gala event? If the focus is exclusively on the auction can have a higher number of items. However, if your event is a social gala, we recommend staying around five top quality items.

Commercial

How soon can we schedule an auction for our commercial property?

The sooner you contact us, the better able we are to establish the ideal timeframe for your auction. If you are only selling real estate—your auction could happen in as little as 30 days. If other business assets are involved the process could take 30-60 days.

How soon can I be paid?

Closing for real estate is in 30 days. Personal property auctions can be settled in xx days.

Do I need to provide an inventory of the items we want to liquidate?

We have a team of over 25 professionals that handle every aspect of your auction—from start to finish. Our agents will be happy to work through all of these details with you. You are welcome to be as involved or as uninvolved in the process as you would like.

Farm & Ranch

What is a multi-parcel auction?

A multi-parcel auction is one in which a large property is broken down into more than one tract. It allows buyers to buy smaller portions of the acreage offered, or to opt to buy all of the smaller tracts—keeping the property together.

Can I sell land that has a tenant or is currently planted?

The short answer is yes. If your farm or ranch has a current tenant or crop the lease and crops can be pro-rated for the new buyer. If the new buyer wants to use the land, he will need to give the current tenant notice for the following crop year. Tenant rights are transferable from seller to buyer, so the lease agreement stays the same, while the landlord changes.

We have inherited land, can someone in the family buy at auction?

It is not uncommon for us to sell farm and ranch properties that are part of an estate. An auction is an ideal solution for circumstances where one or more individuals that are part of the estate want to buy the land, but cannot come to an agreement of price. Auction brings about a true market value allowing all members of the estate realize a fair value on property.

Senior Transitions

Do I need to update my home before it is auctioned?

We often see older homes that are structurally sound, but in need of cosmetic updates flourish at auction. With the mass following of home renovation shows and networks, buyers now want to remodel themselves—making homes such as yours, ideal for auction.

How will people know about my auction?

Our Award Winning Marketing department will create an advertising strategy that will maximize exposure for your property—actively putting it in front of an audience of likely buyers. McCurdy Auction has won over 80 awards by nationally recognized organizations for the marketing plans we create for our clients.

Where do I even start?

We know the process can feel overwhelming. We specialize in creating selling solutions for our clients that minimize their stress and maximize their results. Our process allows you to be as involved or uninvolved as you want to be.

What is the commission fee for an auction?

We do not charge the seller a commission fee. At auction, the commission fee is shifted to the buyer.

What happens if I think the price on my house is too low?

We offer two types of auction methods—absolute and subject to seller confirmation. An absolute auction means the property will sell to the highest bidder, regardless of price. A subject to seller confirmation auction means that the seller reserves the right to accept or decline a final bid; a recess will be held prior to the end of the auction where the seller has the ability to say "yes" or "no" to the highest bid.

Online Auctions

If I've already registered for an auction to do I need to register again?

It is necessary for you to register for each individual auction.

When does the online auction close?

Yes, you will need to set up a McCurdy Auction account before you can register to bid online in our auctions.

What if I can't attend the scheduled preview of an online auction but have questions about an item?

We are happy to answer any question you have. Simply contact the auction manager or our auction team via text or telephone. Contact information is listed on each auction page of our website.

Do I need to have an account to bid online?

Yes, you will need to set up a McCurdy Auction account before you can register to bid online in our auctions.

What if I won the item, but have changed my mind?

Your bid is an agreement to purchase and is binding. We cannot cancel a bid after an auction has closed. When you register to bid, you are required to acknowledge acceptance of our auction Terms and Conditions.

What if I won the item, but have changed my mind?

Your bid is an agreement to purchase and is binding. We cannot cancel a bid after an auction has closed. When you register to bid, you are required to acknowledge acceptance of our auction Terms and Conditions.