It is the middle of 2011 and sellers of commercial real estate
are still facing significant obstacles in selling their properties.
Many owners are having trouble attracting potential buyers, and
even when they do, such potential sellers are not getting the price
or selling their properties within the time frames desired. As a
result, owners have begun to look for alternative ways to sell a
property. One alternative gaining favor is the auction process.
Auctions offer sellers a way to dispose of their properties
within a specific time frame and with a certainty of closing. They
also might attract potential buyers who may not otherwise have been
interested in the property or known about it being for sale. An
auction is, however, very different than a typical sale
transaction, and anyone considering auctioning a property should be
aware of the various nuances of an auction sale process, including
the following:
