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 BMW 3 Series 325iT Wagon 04 BMW 325iT Wagon 1 Owner FL Car Premium Package HK Audio Xenons Sunroof $11,000.00 (16 Bids) Time Remaining: 4h 3m |
 BMW 8 Series 2DR COUPE 85 48K ORIGINAL MILES 1 OWNER CELEBRITY OWNED PREMIUM SOUND 6 DISC CD $18,980.00 Time Remaining: 15d 4h 33m Buy It Now for only: $18,980.00 |
 BMW 5 Series 525i Premium 2002 BMW 525i Premium Sedan 1 Owner with 67K Orig Miles RARE 5 Spd Transmission $9,900.00 Time Remaining: 8h 20m |
 BMW 5 Series 550I 2008 CALIFORNIA ONE OWNER BMW 550IS SPORT PREMIUM XENON NAVIGATION MINT $24,900.00 Time Remaining: 15d 8h 45m Buy It Now for only: $24,900.00 |
 Mercedes Benz M Class ML 320 2007 MERCEDES BENZ ML320 4MATIC CDI DIESEL ONE OWNER PREMIUM PACKAGE ALL OPTIONS $15,600.00 (9 Bids) Time Remaining: 11h 50m |
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 Mercedes Benz SLK Class SLK55 AMG 1 Owner Premium NAVI Neck Scarf BiXenon HK Sound Financing Available $33,992.00 Time Remaining: 3d 10h 56m Buy It Now for only: $33,992.00 |
 Lexus LS LS430 NAVI 2004 LEXUS LS430 NAVI MARK LEVINSON PREMIUM SOUND 1 OWNER $13,800.00 (7 Bids) Time Remaining: 1d 4h 25m Buy It Now for only: $19,980.00 |
 Toyota Sienna LE PREMIUM 1 OWNER XM RADIO BLUETOOTH Power Doors REAR CAMERA Honda Odyssey CARAVAN $22,800.00 Time Remaining: 4d 9h 4m Buy It Now for only: $22,800.00 |
 Nissan Frontier LE 2010 NISSAN Crew Cab LE 4WD Leather Roof RACK PREMIUM SOUND SYSTEM 1 OWNER $15,000.00 (7 Bids) Time Remaining: 1d 5h 3m Buy It Now for only: $26,900.00 |
 Ford Thunderbird PREMIUM 2002 ONE OWNER HARD TOP PWR SOFT TOP 14K MILES $14,850.00 (6 Bids) Time Remaining: 1d 5h 41m |
 BMW 5 Series 2005 BMW 545i AUTO SPORT PREMIUM HID LIGHTS 1 OWNER $21,990.00 Time Remaining: 11d 7h 39m Buy It Now for only: $21,990.00 |
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 Jaguar XK LOW MILES 00 MIDSIZE JAG COUPE PREMIUM CARFAX CERTIFIED ONE OWNER $13,995.00 Time Remaining: 15d 6h Buy It Now for only: $13,995.00 |
 Cadillac Escalade ESV Premium 2010 Cadillac Escalade ESV Premium LOADED 1 Owner Fully Serviced Immaculate $52,500.00 Time Remaining: 1d 7h 20m |
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 Toyota Prius 09 HYBRID CERTIFIED 1 OWNER 09 Toyota Prius Premium Edition w WRNTY WE FINANCE $11,495.00 Time Remaining: 6d 5h 44m Buy It Now for only: $11,495.00 |
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 Audi A4 ONE OWNER GORGEOUS 2009 AUDI A4 20T QUATTRO AWD TURBO PREMIUM HEATED SEATS BLUETOOTH $18,999.00 Time Remaining: 2d 8h 10m Buy It Now for only: $18,999.00 |
 Mercedes Benz C Class C240 2003 Mercedes C Class C240 Premium 1 Owner Prefect Carfax $3,635.00 (4 Bids) Time Remaining: 1d 11h 37m |
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 Toyota Venza PREMIUM 1 OWNER XM RADIO BLUETOOTH POWER SEAT Alloy Wheels HONDA RAV 4 CR V KIA $22,800.00 Time Remaining: 4d 8h 43m Buy It Now for only: $22,800.00 |
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 Lexus CT Premium CT200 CT200h Hybrid 1 OWNER Low Miles PREMIUM Moonroof 630 965 0485 $23,000.00 (16 Bids) Time Remaining: 2d 2h 11m Buy It Now for only: $32,000.00 |
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 Mini Cooper 2DR CPE S 2009 Mini Cooper S PREMIUM PACKAGE 17 WHEELS 1 OWNER FL CAR $10,000.00 (1 Bid) Time Remaining: 3d 2h 35m Buy It Now for only: $18,980.00 |
 Nissan Altima 35 SR Sedan Premium Sport Pkg One Owner Very Low Miles Leather Moonroof Super Deal $21,470.00 Time Remaining: 3d 6h 48m Buy It Now for only: $21,470.00 |
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 Volvo C70 C70 CONV CLIMATE PREMIUM DYNAUDIO PKS 1 TX OWNER CLEAN AUTOCHECK HTD SEATS 6 DISC SHARP $7,606.00 (15 Bids) Time Remaining: 3d 7h 5m |
 Jaguar XF 1 OWNER 14K 2011 XF PREMIUM WARRANTY NAV Roof Heated LEATHER BUY 4 ONLY 37995 WE FINANCE $39,770.00 Time Remaining: 3d 8h 8m Buy It Now for only: $39,770.00 |
 Nissan Pathfinder 2WD V6 SE Bose Premium Sound Rear Camera Moonroof 1AZ Owner Tow Package $7,105.00 (9 Bids) Time Remaining: 3d 7h 31m |
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 Lexus RX RX 330 AWD 2004 LEXUS RX330 4WD NO RESERVE PREMIUM XENON 1 OWNER HEATED DONT MISS $10,400.00 (23 Bids) Time Remaining: 3d 7h 35m |
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 Mercury Sable LEATHER 37K 2000 Mercury Sable LS PREMIUM LEATHER ALLOYS CLEAN 1 OWNER CARFAX CERTIFIED WOW $7,495.00 Time Remaining: 17d 10h 18m Buy It Now for only: $7,495.00 |
 Nissan GT R Premium Edit One Owner Premium Package Built in Radar New Tires Super Silver Nissan GTR $50,100.00 (2 Bids) Time Remaining: 3d 9h 38m |
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 Ford Mustang COUPE 2010 FORD MUSTANG COUPE PREMIUM ONE OWNER Florida Car CLEAN $16,998.00 Time Remaining: 4d 1h 13m |
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 Infiniti G Journey 2008 INFINITI G37 JOURNEY PREMIUM PKG Roof Navi GPS 1 OWNER $2,247.00 (14 Bids) Time Remaining: 4d 8h 34m |
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 Lexus HS 250h Hybrid 2010 HS250H Premium One Owner Pearl White Low Miles LOADED Navigation $31,900.00 Time Remaining: 19d 7h 4m Buy It Now for only: $31,900.00 |
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 BMW 5 Series 528xi 08 528Xi AWD PREMIUM NAVIGATION XENON COLD AUTO 1 OWNER SERVICED WARRANTY CLEAN $990.00 (1 Bid) Time Remaining: 5d 2h 12m Buy It Now for only: $28,990.00 |
 Subaru Legacy Premium One Owner Premium Pkg Perfect Carfax $16,750.00 Time Remaining: 11d 6h Buy It Now for only: $16,750.00 |
 BMW 3 Series 335i 08 335i Sedan Premium NAVIGATION AUTO COLD SAT COMFORT ACCESS iPOD 1 OWNER $990.00 (1 Bid) Time Remaining: 5d 2h 15m Buy It Now for only: $20,990.00 |
 Mini Clubman S Mini Cooper Clubman S One Owner clean Carfax Cold Wthr Pkg Premium Pkg $20,988.00 Time Remaining: 11d 8h Buy It Now for only: $20,988.00 |
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 BMW 3 Series Sdn 328i RWD SPORT PKG+PREMIUM PCK MSRP 43K ONE FL OWNER STILL UNDER FULL FACTORY WARRANTY $10,000.00 Time Remaining: 5d 3h 36m |
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Buyer's Premium? What the heck is that?
A unique opportunity an auction for real estate provides is the ability to use a buyer's premium, which is usually accounted to offset some or all of the seller's auction transaction costs, marketing expenses and commissions.
The buyer's premium is an additional amount that is added to the high bid price to determine the total contract price the buyer will pay to the seller at closing. The agreement between seller and broker/auctioneer provides the particular percentage of the buyer's premium that is paid to the broker/auctioneer by the seller at the close of escrow.
In an active and aggressive bidding environment, the buyer's premium is perceived by bidders almost as a sales tax or simply a cost of doing business and can lead to higher net proceeds for the seller. Specified buyer's premium can range from 3 percent to 10 percent of the bid price and is an accepted part of the process throughout the auction industry.
The buyer's premium allows the seller to increase the gross sales price and is a way for the seller to transfer transaction costs onto the buyer. When implemented properly, the seller's total effective transaction costs (marketing expenses plus commission) can be less than that of a traditional brokerage sale. In fact, the goal is a "expenseless" transaction on the seller's side of the closing sheet. This can be especially desirable for the sale of real property held by the estate.
Wouldn't you prefer to take home more of the transaction, rather than less?
Omar P. Bounds III A.A.R.E., C.E.S., G.P.P.A. - The Bounds Auction Company
Omar P Bounds III; President & Lead Auctioneer, The Bounds Auction Company is a PA & VA licensed auctioneer & a licensed Real Estate professional in PA & New Jersey. He holds the professional designations Accredited Auctioneer Real Estate, Certified Estate Specialist & Graduate Personal Property Appraiser of the National Auctioneers Association. The Bounds Auction Company specializes in Real Estate auctions & estate services and serves the Mid Atlantic region directly from their offices in Jenkintown Pa., and nationally via a network of associated auction professionals. http://www.boundsauctions.com