I am going to do a 5 day Auction on the house in Taft this weekend. I have a gal named Rikki Valle putting it together for since she has already done one before. It's a very interesting process. In a nutshell:
1. The week prior, Advertise your home in as many newspapers as possible. Send out flyers to agents, drop flyers to all your neighbors. I will go to Taft tomorrow on Wednesday and do the flyer thing. I also created a webpage for it so that people can get a little more information. www.tafthomeauction.com
2. HOld open house on Saturday and Sunday - take bids.
3. Sunday night have round robin with bidders over the phone.
4. Sell house to highest bidder!
5. Sold!
They say you should start the bidding at 50% less than the house is worth and in theory you will have people outbid each other to at least 20% below market - if you're lucky. Of course this works only if you are willing to sell below market- which anybody in their right mind, if they want their house to sell - better be willing to do!
I am ready willing and able to sell that puppy below market. It's been a lovely journey but I'm ready to get off this boat! Sell, mofo, sell!
I will let you know how it goes. God speed little house!
