Naples, FL - Barefoot Beach
Sold at Auction for $3,332,500
THE CHALLENGE —
A group of investors purchased an oceanfront property in Naples, FL with the intention of remodeling the home and selling it in a rapidly appreciating market. The investors, who ultimately wanted to receive fair market value for the home, found it increasingly difficult considering the rate of appreciation in the Naples market. They were fearful that overvaluing the property would increase the time it would take to sell, and they didn't want their investment to occupy their portfolio for an extended period of time. They sought the help from Grand Estates Auction Company® to provide a viable solution to the problem of how do you sell a property with a time sensitive seller in a rapidly appreciating market, while being assured to receive fair market value?
THE SOLUTION —
Grand Estates Auction Company® presented the seller with a dynamic marketing proposal that sought to capture the interest of individuals who traveled to Naples from different parts of the world. By marketing to these individuals in their home markets we could increase our overall effectiveness of bringing forth qualified bidders on auction day. With the seller motivated to sell his property, he chose the absolute method of auctioning, which means that the high bid on auction day is what the property will sell for.
THE RESULT —
As a result, Grand Estates Auction Company® was able to draw interest in the property from around the world. The auction produced 13 bidders and the property was sold at auction for $3,332,500.00 The seller and buyer were both thrilled with the transaction and closed in 30 days making the total time from marketing to auction close in just under 75 days!
A group of investors purchased an oceanfront property in Naples, FL with the intention of remodeling the home and selling it in a rapidly appreciating market. The investors, who ultimately wanted to receive fair market value for the home, found it increasingly difficult considering the rate of appreciation in the Naples market. They were fearful that overvaluing the property would increase the time it would take to sell, and they didn't want their investment to occupy their portfolio for an extended period of time. They sought the help from Grand Estates Auction Company® to provide a viable solution to the problem of how do you sell a property with a time sensitive seller in a rapidly appreciating market, while being assured to receive fair market value?
THE SOLUTION —
Grand Estates Auction Company® presented the seller with a dynamic marketing proposal that sought to capture the interest of individuals who traveled to Naples from different parts of the world. By marketing to these individuals in their home markets we could increase our overall effectiveness of bringing forth qualified bidders on auction day. With the seller motivated to sell his property, he chose the absolute method of auctioning, which means that the high bid on auction day is what the property will sell for.
THE RESULT —
As a result, Grand Estates Auction Company® was able to draw interest in the property from around the world. The auction produced 13 bidders and the property was sold at auction for $3,332,500.00 The seller and buyer were both thrilled with the transaction and closed in 30 days making the total time from marketing to auction close in just under 75 days!
