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The Freedom II Bidding System is our newest and most exciting multiple parcel bidding program. This innovative program can used on any type of property that has been divided into multiple tracts. It is a multiple round system that accelerates the sales price each round. The multiple rounds allow us to sell the property as a whole, a combination of tracts, or individual tracts. Bidding During Auction Round One The entire property will be sold as a whole. (This includes any buildings or homes). The price in round one becomes our base price. Any other round must exceed the price obtained in the first round. Round Two In this round all tracts are sold by the “Dollar”. High dollar gets the bid on the tract being auctioned. The individual home tract or commercial building tract will be sold first. This allows us to separate a potential homeowner or commercial building owner from the whole property. They typically pay more for the building versus the whole or combination tract buyer. This is followed by specific combinations (No Single Tracts are sold). The intent of this is to allow good combinations to be prepared to maximize the price. Total of this round must exceed the first round total bid for the buyers to be the winners. Round Three or Final Round Basically, the final round is where the bidder(s) bid on individual tracts by the “Acre”. The top bidder on the first tract has the choice of taking as many tracts as they want (one or all). To take a combination of tracts the bidder must take tracts that are contiguous (attached). If the high bidder does not take all the tracts, then the bidding process shall continue on the remaining tracts. This process will continue until all tracts are sold. The round that secures the highest total dollar for the seller will be how the property will be sold. It has been our experience that the last round has accumulated the highest dollar for the property. This system allows all bidders to stay active throughout the auction. Which in turn allows the individual tract bidder more opportunity to purchase their desired tract(s). This continuous competition between bidders throughout the entire auction leads to a higher sales price for the seller. |
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