Harcourts USA held a record setting Live Auction event last month, which included the sale of a property reaching the price point of $3.2 million.
The La Jolla property is a Mediterranean style home with expansive views. It’s located close to La Jolla village and has complete custom designs that set it apart from other properties.
Director of Harcourts Auctions, Ben Brady mentions,
“This property shows that even in one of the most tightly held marketplaces in San Diego, the Harcourts Auction process is shining through with exceptional results.”
According to Harcourts agent, Justin Brennan, the property was originally listed traditionally for four months at $3.4 million, only receiving one offer.
“We decided to put the property through our Harcourts Auction process, where in 17 days, we received 5 offers, 7 registered bidders, and 127 people who walked through the home,” Brennan shares.
The property sold “under the Live Auction hammer” for $3.2 million, with added seller financing to sweeten the deal. According to Brennan, this included an additional $550,000 in interest payments over the next few years. The total consideration result for the seller ended up being $3,750,000.
Brennan simply comments, “The results speak for themselves.”
During Live Auction night, tensions ran high leading up to the moment of purchase. Auctioneer Ben Brady began the process by educating the audience on the property, and then starting the live bidding. When asked about the experience from the agent’s perspective, Brennan responded,
“It was nerve racking, but I trusted the process. I was optimistic because we followed instruction given by Amy Gardiner, Ben Brady, and the Harcourts Auctions team, and we had done everything we needed to.”
Once the property sold, both the buyer and seller had positives to look at. For the buyer, the Harcourts Auction Process is an accelerated sales method, and allows the free market system to present itself. Buyers can’t ask for more than knowing their purchase will always be at a fair price, seeing their competition right in front of them. For the seller, they are always in complete control. Brennan mentioned the La Jolla property sellers were amazed with the success of the process. The difference the auction process made in results was unique and remarkable, especially after seeing no movement through the property listed traditionally.
Closings and escrow took about a week to wrap up after the auction. A huge benefit that comes with Harcourts Auctions, is the simplicity of purchase. All the property disclosures are done before auction night and ready to go for the purchase to be clean and easy.
Harcourts holds monthly Live Auction Events, and the next is scheduled for Tuesday, December 12th. Be sure to visit http://www.harcourtsauctions.us to find all information on the Harcourts Auction Process. This website will have information on future events, all the properties up for auction, and simply how to buy and sell property through auction.
To learn more about Harcourts USA, visit http://harcourtsusa.com
About Harcourts USA:
With over 840 offices in 10 countries, Harcourts International is one of the fastest growing real estate groups in the world.
Harcourts offers a full range of real estate services, specializing in residential, commercial and rural property sales as well as property management services. Harcourts works closely with affiliate, Luxury Property Selection to offer clients a comprehensive real estate solution.
In 2008, Harcourts launched its charitable arm, the Harcourts Foundation to provide support that helps, grows and enriches our communities. In 2013, Harcourts celebrated its 125 year anniversary.
Please direct all media inquiries to Emilee Koerner, PR Coordinator at Harcourts USA: Emilee.firstname.lastname@example.org
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