Real Estate Auctions – The New Land Rush | Real estate

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.Real Estate Auctions Work in Up or Down Markets. Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.Evaluating Your Real Estate for Auction Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.Locate a Qualified Real Estate Auctioneer Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.Types of Real Estate AuctionsAuctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:Absolute Auction The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.Minimum Bid AuctionSeller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.Seller Confirmation or Reserve AuctionWith a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

Essential Information to Understand in Car Transportation Process | transportation

Vehicle transportation is becoming common and popular among people interested in moving cars from one place to another. People, who purchase vehicles from other states or shifting to another location, prefer auto transport services for moving their vehicles. It is less stressful and cost effective. As long as you consider right information and make right decisions, it is advantageous. However, it could be risky if you make wrong decisions. Therefore, if you are considering auto transportation for moving your vehicle, you should consider right information. That means, always research on car transportation to know the whole process involved and safety precautions to be considered while dealing with auto transporters.Generally, the whole process involves three main things:1. Determining your requirements for moving car i.e. budget, type of auto carriers and selecting car delivery options.
2. Locating a reliable auto transport company meeting your vehicle shipping needs best.
3. Preparing your vehicle for transportationApparently, it seems easy but involves complications. Here are brief details regarding these three steps:Determining Your RequirementsYou cannot find a reliable company at affordable rates until you determine your vehicle shipping requirements. Therefore, you should define your limits primarily. It includes your budget, type of auto carriers for your vehicle, and car delivery options. It mainly depends on your budget. If you have no financial restrictions, then do not think much and choose enclosed auto carriers and door-to-door shipping option. Otherwise, choose terminal-to-terminal shipping and open auto carriers. However, you should still be careful with open carriers if you are transporting a classy car. For transporting classic cars, you are advised to choose enclosed carriers. Alternatively, if you are choosing open transportation, it is advised to get some additional liability coverage. The insurance in this case is a defensive strategy to secure the process.Locate Reliable Vehicle Shipping CompanyA number of ways can help you hire a reliable car transporter. However, you should be careful regarding rogue and unprofessional movers. Such companies often lure customers by offering attractive packages but ask for more money once the vehicle is loaded on trailers. Therefore, prior to choosing a car transport company, you should check it with Federal Moving Carrier Safety Administration (FMCSA) to make sure it is legitimate and has perfect safety ratings. In addition, read reviews of past customers with it. it will help you to identify the reputation from customers’ point of view.Prepare Vehicle for TransportationNext step is to prepare your vehicle before the auto shipper arrives to pick up the car. Preparation generally, involves removing all of your personal belongings including portable products. In addition, you are advised to make sure the vehicle is in perfect running order. Do not allow the mover to pickup vehicle until it provides you signed copies of car condition statement, vehicle shipping insurance, and car shipping agreement.

Copyright Law and Society | laws and issues

With this message I have created a copyright. Should this post become as popular as say a Beatle’s song I could sue for royalties from everyone who forwards it. The copyright on the post lasts 75 years and if I register the copyright it will last as long as 100 years. Even what is in the copyright and what is not is questionable as I can later derive work from this post and extend the copyright.While Congress is spending millions studying the Drug War, Health Care, the Deficit and a myriad of other issues, the impact of an obsolete copyright law is far greater on society. On the corporate level there is a push to extend copyright, neglecting that most of what we see today on TV or the movies is derived work from historical authors like Shakespeare who then derived much of his work from Greek plays. On the left there are people like Thom Hartman who want to see copyright laws repealed guaranteeing Disney and other movie produces will never make another movie.Currently, Google is under a legal injunction preventing them from just scanning books that may still be in copyright. There is a better way to sort the current mess. Public domain works have become like the Guttenberg Project and with open source software a valuable resource. With the internet available to the world public domain works spread communication and education. There are many ideas and valuable history wrapped up in out of print works. The Internet exploits these works adding value to societyHow much other obscure information becomes valuable when exposed on-line? Like Google the Guttenberg Project cannot put on line thousands of obscure and out of print books because of out of touch copyright laws. In the past a publisher – say of Schumpeter’s Business Cycles — had a motivation not to reprint an out of print book. They had to cover the cost of a minimum printing and this meant warehousing, distribution and promotion costs. Thus many, many books lie fallow, keeping library shelves full and supporting out of print book dealers.With every change in technology there are winners and losers. Economics generally sorts things out, however government and laws play an important part in making economic value. Without copyright laws the publishing industry would come to a screeching halt. Already the music industry is caught in a bind over internet distribution. Yet there are some simple solutions to this problem.1. Lower the length of copyright on non-registered works to three to five years. A short time frame would further expand the value of the Internet as a resource.
2. Make registered works re-register every five to seven years.
3. Raise the registration fee to a level that would support an enforcement fund.
4. Define clear penalties for infringement that are high enough to be enforceable but not draconian.
5. Automatically flow the funds from enforced royalties to the registered copyright holder.
6. Allow re-registration of copyrights to enter open bidding with the funds from a high bidder going to the previous copyright holder.
7. Failure to re-register a copyright pushes the work into the public domain.In effect the holders of registered copyrights would be paying a tax for enforcement just as banks pay FDIC insurance on deposits. As with domain names, all registered copyrights can now be on line. A cottage industry would spring up around bidding for expiring copyrights giving the owner extra bidding power. Fees collected as well as fines support rational enforcement. Fines could be split between copyright holder and the enforcement agency. In bidding for expired copyrights the enforcement agency would get a portion of the bid allowing for legitimate bidding and higher fees on properties with greater potential enforcement costs.The same could be done with software where in-registration a copy of the code is archived with the licensing agency. On expiration the code would be released on-line allowing users access for bug fixes and modifications again making possible derived works and increasing the economy. When a product is no longer available for sale or supported and has embedded software that software becomes publicly available.On both sides the consumer and creator are protected. Unregistered works become publicly available much sooner and valuable works of creation take on greater and greater value as they become part of the culture. As things expire each has a chance at increased exposure. Out of print works become easily and readily available adding to the wealth and knowledge of society.