TRACofMD also known as The Realtor's Auction Company is designed for real estate agents. The listings are extended by four months, seller's pay no commissions, closing costs, and are able to settle in as little as 30 days.
The very first of the Purple signs are up in the Baltimore Area. To check dates, times, terms or to find out more details you can call the number or check out the website. More homes being added daily. Let us know when you see purple.
Monika, These are NOT foreclosure properties! This is accelerated marketing....a way of having buyers compete with each other rather than sellers.
I will be on the radio this Sunday 12 - 1 PM All About Real Estate. You will be able to listen in www.wcbm.com or call in 410-922-6680. The entire show will be devoted to explaining TRAC- The Realtor's Auction Company.
Karen, The first TRAC auctions are January 10th. I did take a property to Auction this year and it went very well. The seller sets a reserve price but.... , they need to be realistic with their bottom line.
Gregory, You are so close to Baltimore. Hope you will visit soon.
Margaret,
Your post is just more than genereous! TRAC thanks you for your confidence, support and insight to accelerated marketing.
Your dedication to your clients is unmatched!
Karen, Come to Baltimore and have a crab cake with us. My treat, of course!
Lauren, Just another tool to help sell properties at this time of year.
Gregory, Pick a day and let's make it happen.
Karen,
Thanks for listening. How do we find out how many rainers listened? Wanna do a contest?
Thanks again for your support and kindness.
Erica, Have you seen any purple??
Don't have to ask me twice, I love telling this story. It was about 3 years ago and I was just a few month into my first post-college job. I didn't want to fall into the habit of throwing money away on rent, but couldn't afford much house yet so I decided to give the auction route a try. I went to a test auction to see how it worked and decided immediately it was for me. I targeted a few neighborhoods that I thought had potential and got prequalified for a loan of $92,000.
A few weeks later I found an Alex Cooper auction in Pigtown that looked promising but I couldn't get off of work. So, I sent my newly retired Dad to check it out for me. It was a cold and rainy day which led to a poor turnout and no bids above the reserve price. I took that as a good omen and bought the property that night sight unseen, but for a good price. I gave them a $5,000 check and in return got the keys to my lovable money pit.
I pretty much did everything wrong and am very fortunate that things have worked out. I had to gut the whole first floor myself while I lived on the second. For a few weeks I had no floor except for a plywood runway from the door to the steps. I also had no kitchen except for a microwave and a George Forman grill.
Now I have an almost completely renovated home and have plenty of equity built up. I'm starting to look at getting out of the downtown area and I might go the auction route another try.
My auction experience was with city properties in the very low price range that need work, not exactly what you're talking about. But it is an interesting way to buy real estate that I think more people should consider.