Auctions: Why are there so many!!!

[TedTrent]

Auctions

Why are there so many auctions in loft communities? Are they a great idea for the Buyer or the Sellers? If they are great ideas, who stands to benefit the most?

As a downtown Los Angeles resident for 13 years, I must admit I've witnessed many great developments rise and fall. This blurb is about real estate auctions sponsored by a buildings developer.

To be brief, here is what I want you to think about. First, why did the building decided to have an auction instead of selling through a normal sales process? All the loft buildings in Downtown Los Angeles have been for sale for YEARS and haven't been even able to sell enough units to OPEN? Is this a good sign or a bad sign? When you put 100s of people in a room and have an auction, are the members in the audience more willing to pay more for less for a property? What are the dangers of this? When are auctions good ideas for a BUYER to attend? Are prices higher or lower after auctions?

When you are working with a team member from Loft Living LA, we are going to advise you on many of the critical concerns you need to think about when attending a Downtown Los Angeles real estate auction. I get sick in my stomach when I think about people purchasing lofts and condos in Downtown without a Downtown specialist. I really don't get it. Why would you go to an auction without a Downtown specialist who understands Downtown rental values, acceptable floor plans, comparison pricing, access to foreclosures and short sales, developer history, etc. If you want to attend the auction, we can go with you and still get paid by the Developer if you choose to buy. It doesn't cost you a dime. But after you learn about all of your options, it's my best guest you might turn your sites on the best deals in Downtown.

To learn many of the answers to these questions, please call 213-891-9345 and speak with a Downtown Specialist. You need to be working with a Downtown Specialist if you are planning to buy.