Selling a Ranch in an Efficient and Timely Manner
Individuals often ignore it, but they can voluntarily sell their property at auction. This sale, which is also called "voluntary auction" or "sale by candle", is a means to sell a fly fishing property quickly, and to the highest bidder. Here are the steps to follow if you have Colorado ranches for sale.
The reasons for using auctions to sell a property are many. First of all, by advertising it, auctions attract individuals and professionals, which multiplies the seller’s chances of finding a buyer, especially if their ranch property is rare or atypical. Since the auctions are public, the selling price, which is generally close to what the market believes, is almost never questioned by tax authorities. In addition, the purchaser does not have the right of withdrawal in case of refusal of credit, nor of the reflection period of 10 days.
Potential buyers, who have about 3 weeks before the sale to consult the specifications of the notary's office, believe that they have had enough time to reflect on their commitment. Finally, this sale has the advantage of being fast since it can take place only 2 or 3 months after the property's expertise by the notary. Selling a fishing property on a voluntary basis requires, as with any classic sale, the use of a notary. The latter will assist you and advise you before, during and after the sale. Sellers can contact any notary, your specific notary or a notary in the area where the ranch is located, for example.
Any type of real estate can be sold at auction, regardless of its location, nature or location: room, garage, shop, condominium lot, detached house, empty or rented premises, etc. In all cases, the notary verifies that the seller is entirely free to sell the property. For example, auctioning can be a solution if the seller wants the property gone fast, or it could be due to disagreements concerning the price of the property between co-owners. The notary must first ensure that the co-owners are unanimously in agreement with having an auction. Otherwise, the seller’s only option will be to go through the legal process to bring about a forced sale or sharing of this property.
Please note: Do not confuse voluntary and judicial sales. The latter are also auctions, but they are forced, following a real estate foreclosure, a disagreement between co-owners, etc. This is called a judicial adjudication. The procedure is different because it is ordered by a judge and takes place in court. For more details, contact SATP today.