Wayne County, in Michigan, has a lot of tax-foreclosed properties – more than can be efficiently sold in traditional auctions. As a result, the county decided to sell the properties in an online auction. We’ve discussed in the past the benefits of selling machinery and equipment in an online auction; selling homes in an online auction have many of the same benefits. Buyers can see many properties at once, and they can make purchases without having to travel long distances to view the property in person. Sellers have access to a larger pool of buyers than they would with a traditional auction.
The auction doesn’t take place until September 17, 2010, but officials are already claiming the auction to be a success. The website hosting the auction is conducting an auction preview and experiencing the highest traffic in 11 years. You can read an article about the upcoming auction here.
Present Value LLC is a nationwide appraisal and advisory company that provides a range of professional services such as Certified Machinery and Equipment Appraisals, Inventory Appraisals, Asset Verification Services, Business Valuations, and Real Estate Appraisals. Contact us today!
