Real Estate
Real Estate Services:
Dixon's Real Estate division is a full service Real Estate Company.
- Real estate is marketed to obtain the highest value.
- An individual analysis is conducted to determine if a private listing or a real estate auction will be the most beneficial for the seller.
- A comparative market analysis is conducted to establish the value in a targeted area.
- A seller may also want to provide a home owner's warranty to better market their home.
Dixon's Real Estate division has real estate brokers who will obtain all state-required disclosures, placement of signage and advertising, order preliminary title search to assure clean transfer of title, conduct showings and open houses, execute purchase agreement and other required documents, coordinate and assist with closing procedures.
Real Estate Auctions:
A real estate auction is an open forum, which allows for oral bidding. After the bidding is exhausted, the property may be declared sold. The buyer and the seller will complete a purchase agreement and follow the necessary steps to closing. The property is sold as-is.
Reserve Auction: Property sells with the owner's confirmation. The minimum or reserve amount is not disclosed to the public. When the bidding is exhausted, the auctioneer will take a short recess to discuss confirmation with the seller.
Absolute Auction: Property is sold to the highest bidder, regardless of price. This is an excellent marketing tool in selling property.
There are many advantages to selling your home by auction:
- Eliminates long term expenses, such as taxes, maintenance, and insurance.
- The competition of live bidding will realize the property's true market value.
- Asking price is eliminated to avoid overpricing property. Overpricing may create little or no interest in the property and will eventually sell for less than the property is worth.
- Fast sale of property versus months or years of waiting to sell through traditional listing.
- Auction forum creates motivated buyers to act quickly, creating a sense of urgency.
- Cash transactions may close within one week after auction.
- Marketing is targeted to seller's property, not multiple listings.
- Property sells AS-IS, therefore, no negotiations on repairs or inspections.
- Conditions of sale are given prior to the auction allowing no negotiation on terms or no contingencies from potential buyers during auction.
- Buyer's premium helps offset seller's cost of selling home.
Broker Participation: Dixon's Real Estate division encourages all real estate agents to participate in the auction process. We offer compensation to agents who represent a buyer in the transaction. Dixon's Real Estate division also co-ops with other agents from different offices to assist with their real estate auction needs.
Real Estate FAQs
When I sell my house at auction, may I set a reserve?
Yes! Although a home that is sold absolute, or to the highest bidder, is a great marketing strategy, a reserve may be placed on the home. The reserve is not disclosed to the public and the home will be fully marketed to obtain the highest price.
Are homes sold at auction typically foreclosures or in need of repair?
Absolutely not! Homes sold at auction are typically good homes that need good owners. Sellers may opt to hold a real estate auction verse a typical listing so that they may sell the property faster with less selling costs. The properties sold in the past were from owners who are downsizing, settling an estate, selling investment homes, or just want to sell quickly.
Mortgage Lenders
Thinking about bidding on some of our Real Estate?
Do you need a mortgage, but do not know who to call?
We work with some of the best mortgage lenders in Richmond. If you need help getting your mortage, contact one of the gentlemen below, so you can obtain the home of your dreams!
Phil Johnson
Loan Officer - Southern Trust Mortgage
Office: 804-739-1639
Pete Reese
President - America's 1st Mortgage
Office: 804-564-3300
