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Grand Estates Auction Company

Multimillion Dollar Home Goes on the Auction Block - News Channel 36

Right now, there are more than two hundred waterfront homes for sale on Lake Norman, all above a million bucks!

So, how do you stand out when competition is that tough?

Situated on a cul-de-sac on Lake Norman is a 7000 square foot home which has sat on the market for a year.

The listing price: $2.5 million.

Wanting to turn his equity into cash, the owner turned to Charlotte based Grand Estates Auction Company and their absolute auctions.

"This particular seller has another property that he is already building," says Stacy Kirk,

Grand Estates President.  "This causes the buyers to become motivated to act," she continues.

"Absolute means that there is no minimum, reserve bid price, and that can be difficult for people to believe," says Kirk.

So if the highest bid on auction day is a half a million dollars, the seller has to take it.

"We see this property as having a great deal more value than that, and I suspect there may be some bids for $500,000," says Kirk/

Almost always the homes sell for market value or more.

"The sellers chosen this method because they want to stand out from the crowd. They are ready to sell and they ultimately understand they don't select the sale price for the property." Kirk expects 10 to 12 bidders on this auction.

They have to pre-register and must be able to close on the home in 30 days.

"Sometimes we'll do this incredible... national and international advertising and the next door neighbor will be the winning bidder," says Kirk.

Just days ago, she sold this house in Vail, Colorado.

A couple of weeks ago a Nantucket Island estate in Massachusetts went for more than local realtors expected at $5.2 million.

Yes, the seller is taking a risk, but one thing is for sure. "There is a deadline, and the deadline for this property is Tuesday, August 4th."

Kirk's family started the auction company 10 years ago when her mom was trying to sell a multimillion dollar home.

The previews on the Lake Norman home started Friday, but the auction Tuesday is private and only open to registered bidders.

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Testimonials

  • We are still in total shock. We had absolutely no idea our home would sell in the first four days of agreeing to work with Grand Estates Auction Company.

    - M. Gustin, Whitney, TX
  • From the initial marketing of the property to the final day of auction, Grand Estates' approach to the selling of the home was unique, professional and unprecedented.

    - M. Horton, Badin Lake, NC
  • What a sale! Grand Estates Auction Company came through with flying colors on all they promised. 80 or 90 clients previewed with 27 registered bidders! It was the talk of Lake Norman and had realtors shaking their heads at its success.

    - S. Carpenter, Lake Norman, NC
  • From the inception of the auction agreement to the moment our house was sold, you and your staff were magnificent. Grand Estates moves quickly and efficiently, and everyone we dealt with was knowledgeable and informative. In short, you guys are pros.

    - R. D. Brewer, South Fork, CO
  • Our sale has set a new standard for this area's market and our phone continues to ring with inquiries on how we were able to accomplish such a successful sale. My response has been and continues to be: hire experienced professionals like Grand Estates.

    - M. Reiswig, Arlington, TX
  • I recently heard two realtors complaining that the market was down over 65% this season, and to know that you broke the record with the highest sale in 2 years is commendable, but in this market it is amazing.

    - J. Eroncig, Aspen, CO
  • As a real estate broker, I am speaking from experience when I rate your company as among the best I have ever encountered. After watching our show house languish on the market for 3 years, it was amazing to auction and close in just 12 days.

    - K. Weber
  • After meeting you on Summerland Key, I was introduced to the merits of a Grand Estates auction. I have discovered that not all luxury auction companies are the same. I was convinced of your superior service previously, but am even more so now!

    - L. Ferringo, Florida Keys
  • Any seller who is seeking a means of selling luxury property in an expedient manner and is willing to accept the most competitive price the market can bear, I refer to Grand Estates Auction Company.

    - D. Laiacona, Savannah, GA
  • This is the third auction I have had the pleasure of working with you on and have found your firm to be extremely professional and so very well organized. Your honesty, integrity and credible reputation are beyond reproach.

    - L. Romano, Indian Rocks Beach, FL
  • I just wanted to write a quick thank you for the great success we had at our auction in Highlands. It was the worst of times for real estate there, but your team created a great turnout of bidders and got it accomplished.

    - J. Morris, Highlands, NC
  • I want to thank you for making the sale of my home such a success. I was deeply impressed with your skills, marketing and operations of your auction company. As a real estate agent and owner, your auction set a new standard for the Charleston market.

    - J. Near, Charleston, SC
  • As a broker who had my client's home listed for 18 months, I was relieved to find a company to take on this very special property and expose it to as many buyers as possible. I am one broker who is very pleased to have my commission in such a short time.

    - R. Pinner, Lake Whitney, TX
  • Purchasing the St. Croix property has been one of the most positive experiences I have ever had. My instincts told me that I could trust you and your company and we would readily recommend you to our friends as a great way to buy or sell real estate.

    - Odis, St. Croix, USVI
  • We feel most importantly our success was due in large part to your particular auctioning skills and the exceptional sales skills of your staff. Thank you for everything - we are definitely happy sellers.

    - E. & S. Abramson, Vail, CO
  • After discussing this house on the telephone with you, we knew we just had to have it. So, we went ahead and bought it sight unseen. To say that it was everything you said it was is an understatement. It is magnificent.

    - J. & C. Sansom, Naples, FL
  • We are amazed at the number of showings that took place in such a short period of time. No stone was unturned and your marketing strategy was excellent.

    - B. Boyd, Charlotte, NC
  • The biggest difference between Grand Estates and others is that they wait for something to happen and Grand Estates makes things happen.

    - S. & J. Epstein
  • The fact that we had 21 bidders from 12 states on our auction day is a testament to the effectiveness of your marketing, and the fact that the winning bidder bought the house for cash shows your skill in getting buyers to act now!

    - K. & B. O'Brien, Savannah, GA
  • I enjoyed my first experience with Grand Estates tremendously and I found the auction process to be very innovative and exciting. Both myself as the buyer's broker and my clients were treated with the highest standards of professionalism.

    - L. Mackarous, Montreal, QC
  • Any questions we had along the way were always answered to the fullest by the Grand Estates staff, which only furthered my support and trust in the team. Everyone involved was professional and knowledgeable in representing our property at auction.

    - A. Goldstein, North Hampton, NH
  • Through high quality marketing, a top-notch sales staff and your great attention to detail, you brought my wish to fruition and amazingly it took less than 60 days from the day I signed up.

    - E. Karesh, Mt. Pleasant, SC
  • The Grand Estates process is by far superior to the more "traditional" approach to real estate sales. GEA attracts potential buyers from around the country and beyond, something we never would have been able to achieve with a traditional listing.

    - P. & D. Richardson, Whitefish, MT
  • In the end, your marketing and sales efforts paid off with a turnout better than either of us had hoped for, even during a quite difficult economic environment!

    - B. Atkins, Captiva, FL
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