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Credits

Sponsored by Lorman Education
Product ID: 403624EAU
 
Credit & Course Provided by:

Practical and Legal Aspects of Real Estate Auctions

OnDemand Webinar (96 minutes)

Gain an understanding of the auction process with an in depth look at the online selling process, typical contracts, terms, and understanding the operations of how and why.Many people think a real estate auction is a last resort and a way to dump severely distressed assets. However, using aggressive marketing, the psychology of greed manipulation and the right professionals, the possibilities are almost endless. Rich Kruse of Gryphon USA and Zane Fry of Cushman & Wakefield have found that a cooperative auction process can provide that competitive environment and that expedited sale timeline. This topic is intended to provide you with information on buying and selling real estate at auction, and is targeted at attorneys, bankers, realtors, corporate executives and individuals who regularly need to engage the services of a sales professional to dispose of assets and real property. We will review the cooperative auction process with an in depth look at engaging these professionals, online selling, typical contracts, terms, and understanding the operations of how and why. You will have a better understanding of the industry, be able to negotiate the engagement of professionals, and will obtain various copies of retention and sales contracts for future use.

Authors

Zane Fry, Cushman & Wakefield Richard F. Kruse, Gryphon Asset Advisors, LLC

Agenda

Overview

• Qualification of Presenters

• Agenda

• Summary Case Study of $3 Million Transaction

Asset Structure and Contract Terms

• Liquidation Terminology

• Types of Asset Sales

- Live vs. On-Line

• When to Look at Auctions/Liquidations- Seller Acceptance

• Review of Listing

Putting It All Together

• Broker Auctioneer Relationship/ Joint Venture Relationship

- Roles

- Fiduciary Duty

• Marketing and Buyer Outreach

- CA's and Buyer Qualifications

• Broker Cooperation

- Review of Sale Agreements

• Closing- Timeline and Title Review