PMI brings innovation to the time proven real estate auction methods. We research each property carefully, so we can target the best prospective buyers. We reach buyers through well placed newspaper ads and award-winning direct mail pieces. We use state-of-the-art computer and office systems, so we can answer any auction questions quickly and accurately.
Promises and innovation in real estate auctions for over 30 years. No other auction company in New England can match PMI’s experience in auctioning real estate. PMI began auctioning real estate in 1979. Many real properties are candidates for being sold at auction. To date, PMI has sold private homes, single house lots, waterfront mansions, condominiums, shopping centers, subdivisions, farms, and rural land, all by auction. They ranged in price from $10,000 single lots to multi-million dollar properties.
Both Sellers and Buyers appreciate the benefits of the auction method. An auction accelerates the selling process. It allows Sellers to establish the time frame and set the conditions of sale. Buyers enjoy auctions because they compete in an open and fair environment. Market-based values are established, and few defaults are experienced in a properly structured auction.
Licensed and bonded auctioneers in the states of New Hampshire, Maine, Massachusetts and Vermont, with affiliates in most other states.
Paul McInnis and his staff bring years of real estate auction experience, as well as professional auction marketing techniques, to the sale of real property. Our auction company has worked with brokers and with auctioneers across the country to bring satisfied buyers and sellers together. PMI has developed a specialized mailing list targeting potential buyers and sellers.
As a seller you can set the terms of the auction – Absolute, Minimum Bid or Subject To Confirmation.
Property to be advertised and sold to the highest bidder regardless of price. This approach allows the auction method of marketing to work at its maximum potential and creates the utmost motivation for prospective buyers to become interested in the property and ultimately attend and participate in the auction.
Minimum Bid Auction
Property to be advertised and sold to the highest bidder above a pre-determined and advertised minimum bid. This approach offers protection to the seller, but in essence a minimum bid more or less expresses that the seller will be satisfied with the minimum bid. The minimum must be low enough to serve as an enticement, yet high enough to satisfy the seller in the event that little or no advancement is made.
Subject To Confirmation (Reserve)
Property will be offered at auction and the final bid is subject to the owner’s approval. The owner agrees to sell above a pre-determined price, but that figure is confidential between the seller and the auctioneer.
Judicial And Forced Sales
The Auction Method is an efficient and many times a required tool in recovering value for assets in the jurisdiction of bankruptcy and other courts. There are many statutes that regulate the foreclosure proceedings for a mortgage. The auction method is cited in most of these statutes as a requirement to foreclose on a mortgage often referred to as a Foreclosure Auction or Mortgagee’s Sale at Auction.
A properly implemented auction marketing campaign will create significant activity which should translate into a high level of participation at the auction. The results are impossible to predict; however, we can assure you of the best possible effort in achieving the highest return for the Seller.