Q.
I have been appointed executor of an estate. At what point do I need to
contact Joe Ollis Auction?
A. Joe Ollis Auction
Service should be one of the first contacts. Settling an estate is a big
responsibility and needs to be handled properly. If an
attorney is involved, we will work hand in hand with that attorney to make the settlement process as
easy as possible. Nothing should be boxed or thrown away. For many, this is a one time thing
and are not educated in the marketing process or know what is sellable or what to discard.
Q.
Can I name Joe Ollis Auction Service in my will to do my auction?
A.
Yes, and people do. Your wishes can be set up
simply, with us working out the details with your attorney. This can also alleviate
problems.
Q.
I have never been to a Real Estate Auction. Can I look at the property
before the auction and how do I bid?
A.
A Real Estate is normally advertised 2-3 weeks in advance. A buyer may
call our office for an appointment to view these properties. Most
properties are sold in as-is condition. Any desired inspection must be made before the auction.
Bidding is conducted in an open and public setting. You may bid directly to the auctioneer or any of
our bid assistants will be glad to help you or answer questions.
Q.
What is an Absolute Auction?
A.
Absolute means the property will sell to the last and highest bidder
regardless of price. This is the best kind of auction that attracts more
bidders, which usually translates into 10 to 20 percent more money for the seller.
Q.
What is a reserve auction?
A.
Reserve means that a minimum price has been established by the seller.
If bidding does not reach the reserve, the auction of the property is
canceled.
