Ask Don: Real Estate Auction?

June 27, 2008 |

Dear Don: “I read in your book, which I enjoyed very much by the way, that you were a real estate agent and auctioneer for many years. My financial advisor has advised me to sell a real estate lot at auction and get rid of it as soon as possible because all I am doing is wasting money on the taxes. Do you agree with him?” Janice. Gainesville, Florida.

Dear Janice: An auction is an excellent and fast method of selling real estate in normal conditions; it creates an exciting atmosphere where buyers compete with each other to buy the property that is being auctioned. It is fairly easy for an experienced auctioneer to get a buyer to raise his or her bid “just one more time” because it is assumed that the property or item is worth at least . . . (click to read more)

Donald L. Turpin, is the author of Penny Power, a book of true, chronological and humorous stories about how he parlayed a $100.00 cash retirement gift into over $50,000.00 cash using classified ads. Got a question? Click here to Ask Don.