Orlando, FL, June 25, 2009 --(PR.com
)-- Gitta Urbainczyk announces 2 pre-foreclosure / short sale real estate auctions being held by her real estate team here in the Greater Orlando Area. There are 2 properties on 2 different dates they are selling at a round robin auction process.
One property is an office condo located on 103 Commerce St. in Lake Mary, FL. 32746 Unit #180 and Unit #190. The property is a corner location and offers 4000 sqft. with an office, a reception area and 900 sqft. of storage area. The property will be sold in a round robin auction and will go to the highest bidder with the most net proceeds going to the seller. Since these properties are in pre-foreclosure they are subject to lender and seller approval.
The second property is located on 1387 Shady Knoll in Longwood, FL.; it is a single family home with an enclosed pool located in a highly desirable gated subdivision in Longwood and this property is also subject to seller and lender confirmation.
Sold in 10 Days Auctions is a great way to sell properties because they are less intimidating to the buyer compared to traditional auctions which are cash closings. The round robin auctions are subject to financing, normal 30 to 45 day closing, subject to inspection and a normal reasonable escrow deposit. Anyone is invited to participate and there is no advanced cash requirement to participate in the bidding process. They are basically using the auction process, but not the very demanding and for some buyers unattainable requirements other auctions require, such as cash closings and advanced payment to participate no inspections. This process works because there are more buyers participating who will fetch a higher value compared to other ways of selling where there are only limited buyers. For the seller it has advantages because a property can be sold faster and it does not decline its market value compared to sitting on the market place for months at the time.
More information about the Sold in 10 Days Auctions program can be found at Greater Orlando Homes