What type of auctions do you offer?
We utilize the most advanced auction platforms to offer you live, real-time bidding opportunities that are convenient and best suit your needs. We conduct live auctions at the property with real time, interactive and competitive bidding through our sister company Auction Network. We also sell investor-grade properties through our Online Only platform and through WWM Exchange, our bulk real estate auction platform. Back
How do I register to bid?
To bid on site, bring a valid driver’s license and complete the brief registration form. You can also download the registration form from the property’s detail page, complete it and bring it with you on auction day. You will still need to show your valid driver’s license as proof of identification. The process only takes a few minutes. You will receive a yellow bidder card for use during the auction. To bid via Auction Network, please refer to the bidder registration instructions at the property’s detail page. Some auctions may require a bidder deposit to be made in advance of the auction. This information will be clearly spelled out when you go to register. Back
Can I inspect a property before the auction?
Yes. Most properties will have open public inspection periods and we recommend you perform any inspections or have the property appraised before auction day. The dates and times for public inspection are listed on each property’s detail page. Additionally, properties are available for public viewing through licensed real estate brokers/agents.and licensed, certified property inspectors upon registration of the viewing through our ProPortal accessible through the tab on top of the williamsauction.com home page. Back
What is a Buyer’s Premium (Buyer’s Fee in WI)?
The Buyer’s Premium (Buyer’s Fee in WI) is paid by the buyer and used to compensate the real estate broker representing the buyer and/or the broker or auctioneer representing the seller. Back
What is an Auction Service Fee?
The Auction Service Fee is paid by the buyer and used to compensate the real estate broker representing the buyer and/or Auctioneer. Back
Do I get insurable title?
Yes. Most properties are transferred by deed prepared by the seller (i.e. Special, Bargain and Sale, Quit Claim, U.S. Marshal’s, Trustee’s, etc.) with insurable title as determined by the title company indicated on the contract. A customary owner’s title insurance policy is issued for each property. Back
Can I use my own title company?
Yes. However, the terms of sale which are stipulated in the Contract will still apply. Specifically, that the insurable title as prepared and offered by the indicated title company shall be the standard agreed to and accepted by the parties for conveyance and that the buyer shall pay all costs already incurred and required by that title/closing company. Therefore, you may use your own title company to close the transaction, but you may still be responsible for some costs incurred by the original title company. Back
Is there a reserve price?
All properties are auctioned “subject to seller confirmation” (a reserve auction) unless otherwise disclosed as “absolute” or “without reserve”. Properties sold “subject to seller confirmation” or “reserve” may not have a published reserve value, and the high bid is simply subject to seller approval. Properties auctioned “absolute” or “without reserve” have no reserve value and the property will sell to the high bidder on auction day. Back
Can I use bank financing?
Yes. However, the properties are being sold without contingencies, “Cash, As–Is, Whereis” so you should be pre-qualified by a lender as to the amount you can afford to spend for a property being sold for “Cash, “As-Is, Whereis.” Back
Do I need to use a Real Estate Agent?
An auction provides a clean, time definite, exchange between the parties and traditionally allows the buyer to minimize the number of intermediaries separating him/her from the seller. Although as the auctioneer Williams & Williams represents the seller, we have the responsibility to treat all parties fairly and in accordance with real estate law. If a buyer feels more comfortable having representation at an auction, s/he is welcome to have an agent register the buyer as a client, attend the auction, and assume the role of a buyer’s agent. Back
Will I know on site if my bid was accepted?
If you are the high bidder on a property selling “absolute” or “ without reserve” that means there is no reserve value and the high bid is the sale price. If a property is not being marketed as “absolute” or “sells without reserve” the high bid is subject to seller confirmation or approval. For properties subject to seller approval, the high bid is irrevocable for a period of 14 calendar days. Back
What does "Buyer’s Choice" mean?
In this method of auction, bidders compete for "the right to choose first" from a pool of similar properties. The high bidder may choose one, some or all of the "like properties" offered. If the high bidder chooses multiple properties, then the high bid is multiplied by the number of properties the high bidder chose. If the high bidder takes less than all of the properties, then the bidding begins again and the subsequent high bidder now wins the right to choose first. Back
Is the down payment deposited?
Yes. All down payment funds are deposited in less than 24 hours of the auction if the property is selling “absolute” or “without reserve,” and within 24 hours of acceptance on all properties sold “subject to seller confirmation” (unless otherwise required by statute), so you should transfer funds into your checking account prior to the sale (if a sale is not approved, down payment is immediately returned). Back