What is a Multi-Parcel Sale?
In this kind of a sale, a single large property, such as a farm or subdivision, is divided into a variety of tracts, parcels and lots. This gives buyers the opportunity to purchase one of the units, all of them or various combinations of them. Properties that include both real estate and personal property such as estate or business properties are also examples of what can be sold at an auction. To demonstrate buying options, in a restaurant sale, for instance, the property can be divided into different items, such as the building, the equipment, the furnishings and the franchise license, all of which can be bid on separately or in any number of combinations.
Multi-parcel auctions are also rapidly gaining favor with buyers and sellers over conventional marketing. As with smaller properties at auction, these kinds of environments generate a lot of excitement and attract more interested parties. That is why auctions often sell a property for considerably more than what it would get in a conventional sale. Multi-parcel auctions are now the method of choice for determining the highest selling price for real estate because:
- These auctions attract more buyers because they allow for those who are interested in only certain parcels or items, not the whole property.
- Bidding is more flexible because there are so many more options available.
- The number and price of bids increase when buyers can bid on different combinations of items, increasing excitement and competition.
Our Upcoming Auctions Calendar keeps you - the buyers and sellers - current on when and where our next auctions are going to be. It is often the first resource our customers use when they want to sell a piece of property.