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Orange Beach Condo Auction
Escapes! To the Shores Condominium Auction in Orange Beach, Alabama

30 Beach Front Condos in Orange Beach selling at absolute auction!

Saturday, July 25, 2009 at 11:00 AM CDT

Location:  24060 Perdido Beach Blvd.
Orange Beach, AL 36561

The National Auction Group is offering Luxury beach front resort condominiums at auction! Includes Penthouses, 3 bedroom, 2 bedroom, and 1 bedroom condos with spacious balconies overlooking the Gulf of Mexico. Gourmet kitchens, granite countertops, indoor and outdoor pools, plus fitness center.

67 condos to choose from with 30 selling absolute!.

 

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This entry was posted on Friday, June 26th, 2009 at 12:50 pm and is filed under Auction, condos, Orange Beach, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 comments so far

Mary
 1 

This sounds like an investor opportunity. What does it mean that only 30 of the 67 for sale will be absolute?

June 27th, 2009 at 8:35 am
 2 

An Auction can be absolute or the sellers can have a set minimum selling price or reserve price (non absolute).

According to the auction company, National Auction Group, there will be 30 units that are absolute, meaning no minimum reserve price.

Usually, an absolute sale will draw more participants because buyers are thinking they will get a steal. The risk for the seller is that the crowd is small and the buyers really do get a steal. On the flip side, if there is a good turn out, the seller has good potential of getting a little more.

It is important to know the comparable values and also what the auctioneers premium is so that you don’t make the mistake of over paying. The beauty to sellers at auctions is that mob mentality and excitement will get someone to pay more. Those that are wise will go to an auction knowing that they “may” get a deal, but that they are also well informed on where to stop bidding. For an idea of comparable values and auction company premium, contact Des (see above) and he will be glad to give you the info and get you registered.

If you don’t get a bargain at the auction, then you will have some good recent comparable values to substantiate offers on other similar units that are not being auctioned. The auction process is the ultimate price discovery mechanism and the results will be beneficial in rediscovering what real values are following the environment we have been in for the last few years.

June 27th, 2009 at 9:02 am
 3 

I do agree that absolute actions draw larger crowns. It seems so risky for both parties that it’s worth just being a spectator.

June 27th, 2009 at 1:05 pm

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