Land Auction: Georgia Real Estate Auction 500 Acre Case Study

Land Auction: Georgia Real Estate Auction

Saturday, January 24^th

LAND AUCTION: Georgia Real Estate Auction produces top price for Quail Plantation in a Thomasville Georgia - Land Auction. Now, Real Estate Auctioneers & Brokers more confident of the Land Auction marketplace.

United Country a Certified Real Estate Auction-Marketing and Brokerage Group out of Moultrie, Ga. recently sold a tract of LAND named Tahlequah at Auction that included a Quail Plantation & recreational land tract in Thomas County, Georgia, for well above expected results and a summary of the land that sold in Georgia. The Land Auction held on site between Thomasville Monticello and the Georgia Real Estate Auction was estimated to bring four to forty five hundred dollars per acre prior to bidding. Early predictions from area Georgia Real Estate Auctioneers & Brokers were in the lower ranges of estimated value. Recent declines in the Real Estate Market contributed to this pre Land Auction event evaluation. The final gavel price in this Georgia Real Estate Auction was 6061.00 per acre including the Buyers Premium and was contracted for 3,151720.00 for the land that sold in Georgia consisting of a 520-acre Quail Plantation.

Approximately 80-85 people were in attendance with just 15 registered bidders that traveled from multiple states and representing Cities such as Alexandria, Va., Lexington, Ky., Vancouver, Washington and multiple cities throughout Florida, South Carolina and Georgia. Ernie Soule and Danny Fallin entertained the crowd with music from the oldies as a common practice before each Real Estate Auction.

Georgia Real Estate Auctions have been very popular in this region for quite some time.” Land Owners have commonly trusted Real Estate Auctioneers to sell property at Real Estate Auctions ”Says Myers Jackson Real Estate Auctioneer and Land Broker. Contracts are generally executed, with a substantial down payment at the end of the Land Auction by both Sellers and purchasers to expedite the closing process” says Jackson.

A recap of the Real Estate Auction event and the land that sold in Georgia is as follows.

In this Land Auction case the bidding stared slow with on lookers attending this Georgia Land Auction were actively seeking who would bid first. The property being offered high bidders choice finally broke silence with an opening bid of 3500.00 per acre starting the Land Auction event, then 4000 and the 4100, 4200, 4300 all the way to 4600 dollars per acre. The Auctioneers crying for the additional increase to 4700.00 however could only get another 50 dollars per acre to increase the bid to 4650 per acre. There was fierce battle for first place and down to three bidders who were cringed and frantic that no one else would bid, however another 25 dollar per acre increase from the Lexington couple and then A bidder out of Tallahassee and back and forth to 5350 per acre and The Kentucky buyers were definitely in the lead, suddenly the next bid of a 150 dollar increase from The Florida Bidder brought the high Bid to 5500.00 per acre. It appeared that the resounding bid from the right hand side of the tent was going to end up with the first choice of parcels. The Auctioneer checked to the left and back to the right, ask for bids from the standing crowd on the outside of the tent and then with a bold stance and confident voice a bid of 5510 dollars per acre that echoed through out Southern longleaf pines that hosted this Georgia Land Auction event. The Auctioneer calling to the ring assistants asking for another increase, then looking dead into the eyes of the couple from Kentucky and watching them shake their head no with dismay, looking back to the Tallahassee Businessman that was just seconds ago the high bidder, however with fading entusisiam shook his head no, asking again for any additional increase and with no response the Real Estate Auctioneer hammered the gavel and posted the bid at 5510 dollars per acre.

The high bidder at 5510 dollars per acre elected to choose all 10 tracts and the choice was posted on the board. Immediately the Real Estate Auctioneer confirmed the acceptance of the high bid with the sellers. A contracted amount of 3,151,720 was executed by both parties of Buyer and Seller. The transaction closed on February 24, 2009. The results of the sale price and other land that sold in Georgia can be viewed at the Thomas County Property Appraiser web site or the Thomas County Clerk of Court.

<!--EndFragment-->