Charlotte Luxury Estate Auctions Gain In Popularity
CHARLOTTE, NC- The highest bidder gets a luxury estate! Auctioning million dollar homes is a growing trend in the Charlotte area and these aren't foreclosures or homes in distress.
$1.35 million, $1.4 million, and $1.6 million. The prices of some local estates sold by auction. It’s a way for homeowners to skip traditional real-estate listings.
"We began selling homes in the Charlotte area in 1999 and since then, our interest... the number of buyers that we are seeing at these properties have tripled," said Stacy Kirk Reich, co-founder and president of Grand Estates Auction Company.
The Charlotte-based company has offices and homes around the world.
NAT SOUND-"the home is 9,100 square feet. It's 6 bed, 6 baths."
Close to 300 people are bidding on properties like the 9,100 square ft. Reverdy Estate in Matthews. The home and its 8.7 acres is up for grabs on Tuesday.
"There's no minimum bid or reserve bid. The highest bidder will win the property,” sais Reich.
Reich says local buyers have waited because of market fears.
Experts consider this a downed real estate market, but the Grand Estate Auction Company is still able to market Charlotte homes to what they call the “right clients”. Those clients can write &100,000 checks just to participate on auction day.
Losers get their checks back. The $100,000 check from the highest bidder goes towards the down payment.
Reich says with so much auction success in Charlotte, there's sure to be more million dollar estates up for bid.
For more information: http://www.grandestatesauction.com/
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