1. Buying Real Estate at Auction: Tips, Truths and Tools

2. 2006 Gross Sales Revenue for Real Estate  Residential $16.0 Billion  Commercial & Industrial $15.0 Billion  Land & Agricultural $25.3 Billion

3. Growth in Sales for Real Estate Auctions Since 2003 Land & Agricultural Real Estate –33.0% Residential Real Estate – 39.2% Commercial & Industrial Real Estate – 27.4%

4. The Auction Advantage 1.Quick Turnaround Time. 2.No Negotiation Period. 3.Buyers Know They are Competing Fairly Against Other Buyers. 4.Buyers Determine the Purchase Price.

5. The Auction Advantage 5. Purchasing and Closing Dates are Known. 6. Buyers Receive Information on the Property Through a Due Diligence Package. 7. Opportunity for a Bargain.

6. Types of Auctions Absolute – An auction without reserve. Minimum Bid – Auctioneer only accepts bids at or above an advertised price.

7. Types of Auctions Reserve – The seller has the right to accept or reject any offer that falls below a confidential reserve price, but must accept any bid higher than the reserve price.

8. Timely Tips Inspect the Property Familiarize Yourself with the Terms of the Sale Pre-Qualify for Financing Check into Absentee Bidding Plan Your Strategy for Bidding

9. www.onlyatauction.com Find an Auction function Find an Auctioneer function Learn tips about buying and selling at auction Read auction success stories

10. How to Find Auctions

11. National Auctioneers Association Committed to Excellence Members Abide by a Code of Ethics Offers the Accredited Auctioneer Real Estate (AARE) Designation

12. Buying Real Estate at Auction