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Contact Us

Auction Management Corporation

1827 Powers Ferry Road
Building 5
Atlanta, GA 30339

770-980-9565
info@amcbid.com

Contact the Team!
Jeb, Marsha, Amy, Bruce, Heidi, Magen, Austin, Mel, ChrisRickey


Why Auction? Am I a Good AMCbid Auction Candidate?

My Asset Rocks

Congratulations asset rocker! If you’ve got a kick-Asset that people want and are willing to pay for, there is no better way to liquidate your property than by the auction method.

Auctions for high-demand assets are like MasterCard commercials: they’re priceless.

My Asset is Distressed

Hey, we get it and we’re here to tell you that you’re not alone. It’s natural to be hesitant or concerned about what to do next; we hear it all the time:

Q:  What should I do if my house is underwater?
A:  Be honest with us. Many times we can get the lender involved as they usually do not want to have to foreclose and may agree to take less

Q:  What if there is a lien on my property?
A:  Let us know. We will tell you if it is likely to be an obstacle

Q:  What if I’m considering filing for Bankruptcy?
A:  Let us give you an honest assessment of value before taking that step. Once you have bankrupted, the rules change

Q:  What if the property is going into foreclosure?
A:  Do not wait until it is too late. We need 30 to 45 days to market a property, and we cant help you if you call 2 weeks before the foreclosure

Good news for what may have seemed like bad news…these “issues” are music to an investor’s ear!

With the economic changes in real estate over the past several years, our more astute sellers are sending their assets to auction. Likewise, investors have learned the benefits of bidding on distressed real estate.

Hence, why auctions are so popular right now. Savvy buyers rarely purchase from agents these days. Auctions have become one of the most common ways to pick up an asset and our investors are gobbling up real estate.

My Business Needs Liquidating

We call it FF&E in the auction world.  It stands for furniture, fixtures, and equipment and we’ve done everything from door manufacturing plants to commercial grade security systems to movie sets. Some of our best buyers are second-hand FF&E distributers and will generally pay a pretty penny to snatch up these goods in bulk.  

I want to clean up my portfolio

There’s nothing better than cold hard cash. For many of our sellers, they are ready to stop the bleed of property taxes and other expenses to free up cash and invest in other projects. Whether you’re tightening up your investment portfolio, raising money for other investments, or require funds for pay off creditors, the auction method is a sure-fire way to raise cash as fast as possible.

I want to raise money for my foundation/charity

Bake sales are nice and sweet, but they may not provide the big donation dollars that a successful auction could bring. We understand the value in strategic auction fundraising and can help guide you through the most effective auction methods from A to Z.

A list of questions to ask yourself before considering the auction process:

  1. What will I do with the money I free up from the proceeds of a quick auction sale? (Give the money to a charity, family members, do something for myself, or make a better investment?)
  2. Can I afford to hold on to this property and have ongoing liability, expenses, taxes, assessments etc.?
  3. How much of my time have I spent dealing with this property? Can I spend it on fun stuff? More productive pursuits?
  4. Will the property lose value if I continue to hold onto it? Am I better off selling now?
  5. Will selling the property be a good way to dissolve a partnership? A lingering asset from a previous marriage?
  6. Am I under pressure from my company to have an exit strategy for underperforming or poorly performing assets?
  7. Is there a lot of interest in this property? If so, do I dare to set a price and risk selling it for less than it may bring in a truly competitive sale?

OUR APPROACH

It is our mission to apply the auction method in a unique and effective way that helps grow new markets, rebuild communities, and raise money for great causes. By supporting our sellers, educating our bidders, and partnering with national industry experts, we strive to be the leading provider of auction resources around the nation.

 

What Sets Us Apart?

The auction industry may be small but the people in it are mighty; we’re lucky to be friends with most of them and work with partners around the country on a regular basis. This gives us a foothold in the market and the ability to offer our services on a national level. Unlike most auction companies who specialize in only one region or one type of auction, we have diversified our team and affiliates in order to offer expertise in several arenas spreading across the U.S. Not to mention, we like to have fun!

 

Bringing the Past into the Future

Our philosophy is defined by merging the timeless fundamentals of the auction industry with innovative marketing techniques and user-friendly bidding technology. At AMCbid, we have preserved the practices of the auction industry through handshakes, friendships, and the live auction “bid-call” and brought them into today’s modern world by offering sophisticated auction software that supports online and mobile bidding.

 

 

Short-Term Goals: Creating Auction Awareness

  1. To stimulate growth in the auction industry. We hope to create more awareness by providing educational resources and professional support for individuals participating in any aspect of the auction process

  2. To nurture the growth of our affiliate network. We believe that by establishing partnerships with industry experts, we can work together to build a more educated auction community of buyers and sellers

  3. To respond to the growing needs of our clients. We are committed to evolving with the market by providing user-friendly technology and informative resources to make the auction process easy and fun

 

Long-term goals: Continuing to diversify auction services:

  1. Strategic community fundraising- we hope to grow awareness for philanthropic organizations about the many benefits of using the auction method to reach fundraising goals and create lasting relationships with donors
  2. Personal property in high demand- we want to demonstrate the importance of using the auction method to liquidate desirable assets with a strategic marketing plan and definitive sale date to create demand and urgency
  3. Estate planning and liquidations- we hope to offer estate planning services that prepare individuals for the future of their assets, land, and collectibles to ease the stress of estate liquidations during times of loss
 

AMCbid REAL ESTATE AUCTION PROCESS

  1. Free Auction Consultation - We review the property and your situation to provide recommendations and a plan tailored to your needs.
  2. Signed Agreement - After fully understanding the sellers required terms and setting expectations, a proposal detailing marketing expense, timeline and closing process is agreed upon.
  3. Property Facts Gathered - We gather all available information that is used to prepare property files and marketing materials. If you have property that is already listed, we prefer to include your broker in the marketing plan.
  4. Accelerated Marketing Plan - Your asset is exposed to the market through a combination of email campaigns, social media, direct mail, signage, industry and neighborhood networking, advanced Internet marketing techniques, newspaper ads, and other means specific to your asset. When possible, we will combine your property with others to expand the marketing reach.
  5. Due Diligence - An informed buyer is a better buyer. We make is easy for bidders to obtain full product knowledge through our website, mobile app, and call requests. Preview and inspection periods enable bidders to inspect property prior to auction.
  6. Auctioneer and Broker Alliances - Listing brokers accelerate the sales of their assets through auctions, while selling brokers earn generous commissions by registering buyers. Our affiliate network keeps us informed of relevant market trends in the area that may affect the sale.
  7. Auction Day - The live and/or online auction is executed skillfully and smoothly by our professional auction team. At a live auction, the tempo is upbeat, and bidding excitement is contagious as the auctioneer chants the price upwards. For an online auction, bids can be submitted from a computer, laptop, or smartphone and is monitored by our mobile managers. Contract signing and earnest money collection are handled quickly and efficiently to reinforce the buying decision.
  8. Coordinating the Closing - On real estate transactions, our follow-up system assures that the contract speeds toward a successful closing, usually within 30 days of the auction.

MAXIMIZING FUNDRAISING EFFORTS 

Raising money for a great cause can be one of the most rewarding acts of human kindness, and it can also be one of the most exhausting! Fundraising professionals and nonprofit leaders go to great lengths to keep their organization running smoothly and we understand that profitability makes charitable acts possible.

Your choice to hire a professional fundraising auctioneer can relieve some of the stresses associated with planning every type of fundraising event from the smallest social gatherings to the largest annual galas.

 

Maximize Our Services, Hire Us Early

One common mistake that organizations tend to make is waiting to hire an auctioneer after a bulk of the planning has been completed. The most successful fundraising events are executed by incredible party planners and knowledgeable Benefit Auction Specialists who work together to maximize the potential of reaching their goals. Fortunately, AMCbid can offer both! With our expert team of consultants, fundraising auctioneers, event planners, and sponsorship brokers, we are a one stop shop for those who need to raise money in fun and exciting ways.

Our Event Planning and Benefit Auction Services range from:

  • Free Initial Consultation- understand the what, when, why, and how of your fundraising goals and the vision for your event, encouraging you to make decisions with auction psychology in mind
  • Event Consultation- advise on event timeline, run-of-show, integration of event theme, sound/video consultation, invitations, and all marketing pieces to maximize donation dollars
  • Auction Consultation- creating strategy for donation items, live vs. silent selection, preparation of “the ask letter” and auction display
  • Team Discovery- meet with committee members, employees, and board members to understand the purpose, goals, and perceived challenges of the actual event
  • Alternative Funding Options- discussing sponsorships, donors and invitees to minimize out of budget expenses and maximize fundraising efforts
  • Message Delivery and Strategy- developing and maintaining the integrity of the cause while effectively demonstrating the importance of donations in a fun and engaging way
  • Fund-A-Need (FAN) Strategy- understanding the WHY behind each tier and how to deliver the message concisely
  • Additional Revenue Builders- offering various opportunities for guests to donate in unique and meaningful ways
  • Story Integration- how to tastefully weave “the story” into every aspect of the event to deliver a strong unified message to attendees
  • Volunteer Training- spending time with event-day employees and volunteers to streamline event procedures, practice event day lingo, and effectively setup check-in and check-out stations
  • Event Day- greet, welcome, and connect with guests as they arrive to build rapport with the audience
  • Donor and guest retention- learn how to cultivate a strong network of donors and a foundation of effective communication with future and past attendees

SELLING AS A PRIVATE OWNER 

As a property owner who is looking to sell real estate you can benefit from the auction method in a number of situations. Many people believe that auctions are best suited for financially or physically distressed property that needs to sell quickly. While this is the case for some circumstances, auctions can also be a successful tool for private owners of:

  • Real estate in high demand, both commercial and residential
  • Unique or “one of a kind” property
  • Farmland, ranches, and acreage
  • Luxury homes and vacation property
  • Situations with multiple owners who wish to arrive at an equitable distribution, enabling individual heirs or members of the partnership or LLC to bid on the assets

 

Knowledge is Power: Auction Education

It is normal for someone new to the process to feel hesitant about auctioning an asset until they fully understand the value of the AMCbid method. We want you to feel confident that your best interests are being protected, and we will be the first to tell you if the auction method is not right for your situation.

We establish all Terms and Conditions of the sale prior to signing a contract and give you control of marketing budget, sale date, and closing date.There are a number of procedures we follow prior to auction day to ensure that you have competent bidders who are both financially and emotionally prepared to commit to a purchase.

Learn more about the auction lingo and process here:

 

Valuing Your Asset and Creating Urgency

Unlike a traditional real estate listing that can sit on the market for months or years at a time, the auction method creates immediate attention and urges interested parties to act fast. After completing a full analysis of property valuation, AMCbid will market the property within the budget allowance in unique and effective ways to attract willing and able buyers. Auctions don’t wait for the market, they create the market!

Once we have completed all market research on your asset, we proceed by:

  1. Creating buzz for your property by utilizing proper advertising channels
  2. Hosting tours and inspections in a social and inviting atmosphere
  3. Communicating with  prospects and demonstrating the value of the property
  4. Ensuring that all potential buyers fully understand the terms and conditions of the sale
  5. Registering bidders after they have submitted proof of funds and been approved
  6. Hosting a lively and exciting auction event that urges people to bid competitively

BUSINESS, ROLLING STOCK AND FF&E LIQUIDATIONS 

Liquidations present a unique set of obstacles that a properly executed auction can help overcome, especially for FF&E (furniture, fixtures, and equipment) situations. Our liquidation specialists help minimize loss and maximize returns for trustees, bank equipment lending departments, and businesses that require an expedited process.

Liquidation may be the best option under the following circumstances:

  • Undetermined amount of inventory
  • Unaccounted asset value
  • Tight timeline with limited resources
  • Unsure how to categorize, organize, or display items
  • Limited access to liquidation technology and software
  • Unsure how to effectively advertise and market a sale of this kind

Once the personal property auction has concluded, we often sell the real estate associated with the business, which we explain in more detail below under “Liquidating Your Commercial Real Estate”

 

Liquidation Strategy

With our expert team of appraisers and inventory managers, we can implement auction solutions that will create a smooth and seamless process to expedite a liquidation and help you sleep at night. We strongly encourage using AMCbid to sell or auction the real estate once the asset liquidation has concluded and therefore would be included in our marketing efforts.

The exact process will vary depending on your unique circumstance, however our general approach will consist of these 6 steps:

  1. Assessing inventory valuation, marketing budget and timeline for client approval
  2. Implement marketing plan, highlighting “big ticket” items
  3. Catalogue inventory sequence based on bidder psychology
  4. Provide staff for asset organization, online auction input, and security
  5. Market to potential buyers, host inventory and real estate previews
  6. Conduct a successful live and/or online auction and monitor removal of goods

 

Industrial Liquidations

AMCbid has experience with industrial, construction, heavy machinery, and other FF&E auctions and know how to target an audience that is capable of valuing, purchasing and shipping large assets. We understand that large equipment and industrial machinery needs to be handled professionally and our number one priority during preview and pickup is safety. To assure personal safety, a secure environment, and quality care for equipment, we will:

  • Hire trusted, experienced, and insured packers or riggers for dismantle
  • Provide secure warehouse space for temporary holdings, if needed
  • Help coordinate deinstallation, crating, and shipping
  • Provide equipment identification code, history and condition to the best of our knowledge

Once the equipment has been purchased and removal dates are established, we typically auction the real estate of the former business, warehouse, manufacturing plant, or industrial yard.

 

Liquidating Your Commercial Real Estate

Marketing the auction of your commercial real estate in conjunction with your business liquidation is a highly effective way to stimulate interest from potential buyers. There are a number of benefits to this strategy:

  1. Reduce marketing costs by combining efforts
  2. Increase foot traffic by appealing to varying markets and types of buyers
  3. Provide due diligence documents in one location
  4. Gather real estate auction prospects from bidders registered at liquidation sale
  5. Give buyers the opportunity to bid in both auctions

Estate Executors, Inheritors, and Private Sellers


AUCTION INVESTORS 

AMCbid caters to real estate investors on both the buying and selling side of the auction process. Savvy investors are drawn to buying and selling at auction for many different reasons on either end of the transaction.

Investors Sell at Auction to:

  • Quickly sell an asset
  • Free up capital
  • Reduce operating costs
  • Control the terms and conditions of the sale
  • Assure the maximum level of offers through bidding process
  • Ensure the buyer pays the sales commission via the buyer’s premium

Investors Buy at Auction to:

  • Get a great deal
  • Outbid competition for a luxury property
  • Create value through quick cash closing
  • Improve distressed property for resale or income producing property
  • Deal with a bank or other investor instead of sentimental home owners
  • Obtain unique property types that would otherwise be hard to find on open market

 

Investing in Relationships

AMCbid has many investors who buy bank-owned and foreclosure property at our auctions on a regular basis and we have deemed them our “Legacy Investors”.  These individuals have proven they are trustworthy and receive personal phone calls notifying them of upcoming auction deals. Not surprisingly, several of the same investors who buy at our auctions eventually become our sellers. They are interested in auctions for  one or more of the following investment strategies:

  1. Renovating and flipping property for quick capital gain
  2. Upgrading and/or leasing property for long term cash flow
  3. Regional relocation
  4. Portfolio liquidation

 

Investment Portfolio Liquidation

AMCbid has successfully liquidated portfolios for Lenders, REO or Special Asset departments, Investors, and other owners of bulk properties with the fast and efficient auction method.

We generally work with investors or organizations that have one or two properties they would like to auction, but other times we are hired to liquidate an entire portfolio. 

A few reasons people choose to liquidate:

  • Overbearing property management demand and expense
  • Bankruptcy, Foreclosure or Reorganization
  • Freeing up capital for Reinvestment
  • Unexpected illness or death

In a portfolio liquidation, the assets may include a variety of property types, residing in several regions, and in various states of repair. In a few circumstances, AMCbid has auctioned 60+ properties from a portfolio over a few days. One Lender-Owned liquidation included 45+ properties of all types spread over 17 states.

AMCbid has what it takes to be a turnkey solution for all your portfolio disposition needs:

  1. Experience in valuation, marketing and auctioning of all different property types
  2. Licensure to conduct Real Estate auctions in every state
  3. Affiliate partners in almost every state to assist in auction process
  4. Successful auction history in 40+ states

BANK OWNED ASSETS 

AMCbid works with community, regional, and national banks by implementing auction solutions that help protect financial interest in an asset. The primary benefit for a bank to employ the auction method is to liquidate holdings in a professional and timely manner that attracts willing and able buyers for the following situations:

  • Bank-owned real estate
  • Foreclosure properties
  • Contract Assets
  • Special Assets
  • Nonperforming Chattel Loans and Repossessions

 

Compliance Policies and Auction Procedures

To ensure the auction will adhere to institutional policies, we advise on and agree to terms and conditions that are compliant with company regulations. The auction manager will work with the receiver or asset manager to set realistic expectations, establish a marketing budget, and create a reasonable timeline that is mutually agreed upon by all parties involved.

Once an auction services agreement has been signed, we proceed to execute the auction process in four core phases:

  1. Immediately submitting accelerated marketing strategy, marketing materials, contract documents, budget and timeline for approval
  2. Implementing the approved marketing plan and providing reports and feedback throughout the process
  3. Educating prospects by providing comprehensive due diligence documents and engaging registered parties to bid competitively on auction day
  4. Promptly processing earnest money and signed contract to ensure a quick closing

 

Our carefully mapped strategy takes between 3 and 8 weeks depending on the property type and the level of urgency. We market the asset based on a number of factors relative to the current market trends in the area and typically close real estate sales within 30 days of the auction sale.

 

National, Regional and Local Market Presence

In contrast to many of our competitors, we don't claim to have a foothold in every market around the nation, nor do we believe that there is one best way to market an auction asset.

AMCbid has built strong relationships with auctioneers, brokers, and knowledgeable affiliates around the country who help keep us informed on current real estate trends and market-specific information and customs that add value to the local sales process.

The philosophy to partner with reputable auctioneers and industry professionals has been instrumental in growing AMCbid to the national presence it has today.

In fact, our President, Jeb Howell, was recently recognized for this unique approach to the auction industry when he was asked to speak at the annual National Auctioneers Association conference in Las Vegas. He provided an in-depth look at his proven strategy in a workshop entitled “Networking and Referrals”.


Who We Serve

Our team at AMCbid specializes in the rapid disposition of assets at true market price for individuals and organizations that understand the time value of money. The auction process can be a beneficial tool for accomplishing your goals quickly and we often find ourselves working with people in roles such as:

  • Asset Owners
  • Disposition Managers
  • Lenders with non-performing loans
  • Borrowers with lender pressure to dispose of asset
  • Court appointed receivers
  • Real Estate Investors
  • Bankruptcy Trustees or Attorneys
  • Business Owners
  • Estate Executors and Attorneys
  • Dissolving Partnerships
  • Individual Sellers
  • Fundraising Managers
  • Non-Profit Organizers

 

Why should I Auction?

Every circumstance in the auction world is unique and therefore the first step in our process involves a thorough understanding of what you would like to auction and why. Our primary goal is to implement an effective marketing strategy that stimulates bid competition amongst educated buyers within a suitable turn-around time. Our approach is best for those who need to:

  1. Quickly sell an asset
  2. Free up capital
  3. Reduce operating costs
  4. Raise maximum donation dollars
  5. Set the sale date and closing date
  6. Control the terms and conditions of the sale
  7. Assure the maximum level of bidding with potential buyers
  8. Use marketing professionals to promote your asset to a wide array of individuals

How Can AMCbid Help Me?

At AMCbid, the client’s needs come first. Our knowledge of the auction process, valuation, marketing, and networking in the industry makes us experts in our field and we will guide you every step of the way. Understanding the importance of teamwork, we have developed friendships with esteemed auction affiliates, savvy real estate brokers, and fundraising superstars around the country who help us ensure that we are maximizing the bidding potential for your asset.

These are the areas we specialize in:

Commercial and Residential Real Estate:

Personal Property:

Organizational Fundraising:

 

Whether we are selling former bank branches, liquidating an estate, breaking down manufacturing equipment, or raising money for a fantastic cause, we have found that the auction method works best when we work with the best.


Terms to Know in the Auction World

 

The most important Terms are the Terms and Conditions of the sale!

Terms and Conditions are rules one must agree to abide by in order to use our service. The Ts and Cs include general and special arrangements, provisions, requirements, rules, specifications, and standards that you contractually agree upon in order to become an approved bidder.

Important details to consider include the Proof of Funds, Earnest Money Deposit, Buyer’s Premium, Required Closing Date, Broker Commission, and the obligation to execute the Purchase and Sale Agreement (PSA) provided and wire transfer all payments on auction day. (terms to anchors)

What are Due Diligence Documents?

As a potential buyer, it is necessary to assess the risks of your investment and review all available information. Every transaction is different and there is no secret formula. However, it is important to do your Due Diligence and review all related documentation.

You will be able to find and download all available Due Diligence materials on the Documents tab, behind the Details of the auction webpage. These will generally include, but are not limited to, a County Assessor's Property Record and Tax Plat Map, Purchase and Sale Agreement (PSA) with Legal Description of Property (Exhibit A), and Broker Registration Form. If available, information on recent property tax payments, Quit Claim Deed, Declaration of Covenants and Restrictions, current Leases, and Appraisal documents will be provided for your review.

What is a Buyer’s Premium?

Every auction we conduct has an added buyer’s premium. The buyer’s premium amount will vary depending on the terms and conditions of the sale. It equates to a percentage of the winning bid and will be added to the final purchase price. For example, if the high bid on a property is $100,000 and the buyer’s premium is 10%, that makes the final purchase price $110,000. You must factor-in the buyer’s premium when you set your high bid amount, and be prepared to deposit your earnest money within 5 business hours if you are the highest bidder. See example below

What is Earnest Money?

In addition to a signed contract, an earnest money deposit is an essential element of real estate transactions. It assures the seller that you are serious about the purchase, and protects you, as the buyer, by securing your interest in the property. The earnest money deposit is generally between 10-20% of the total purchase price, which is the winning bid PLUS the buyer’s premium. Your earnest money can be deposited into our escrow account by delivery of a check or by bank wire, and we will provide you with all necessary information to make the transaction as smooth and efficient as possible. See example below:

Purchase Example:

Winning Bid: 147,500.00
10% Buyer’s Premium +$14,750.00
Total Purchase Price: $162,250.00
20% Earnest Money Deposit  (- $32,450.00)
Remainder Due (30 Days) $129,800.00

 

What does “As-Is Where-Is” mean?

You’ve probably noticed that an essential element of all auctions is the term “as-is, where-is”. This means that you are purchasing the asset (real estate or personal property) in it’s “as-is” condition with no requirement upon the seller to repair, improve, or otherwise expend money to alter the asset in any way. This means you must do your homework prior to bidding! For example, many lenders will only make loans on properties that meet certain habitability or condition requirements. If you are buying a house in “as-is” condition, it may or may not qualify for conventional financing. You need to be sure that you have available funds to close the transaction regardless of whether it meets conventional underwriting requirements.

Cash and Carry

Most business liquidations, personal property auctions, and estate sales will list “Pickup” dates and express a “Cash and Carry” policy in the Terms and Conditions. While we don’t require cash, payment is due at time of purchase. Generally, at these types of auctions, you will receive an invoice via email and may pay by cash or credit card on site, or by Paypal using your credit card or Paypal account. Payment is required prior to, or at pickup. No delivery service is offered, unless otherwise expressly stated. All “Carry” accommodations and considerations must be made by the purchaser, including all handling, moving, and packing actions, materials and supplies.

Closing a Real Estate Transaction

A typical real estate auction closing deadline is 30 days after the sale. Read the Terms and Conditions and sales contract carefully to see where the closing must occur and how the closing costs are split between buyer and seller. The contract may specify a particular closing attorney or title company to close the transaction. Typically, the buyer pays most or all of the fees charged by the closing agent. Taxes and assessments are typically prorated and if you obtain financing to close the transaction, you should expect to pay all costs incurred for that financing. It is important to note that auction sales are never subject to financing, so you should have your financing lined up prior to bidding, as your earnest money may be forfeited if you cannot close due to insufficient funds.

The closing can occur at the closing agents office, or through email and overnight mail. For example the closing agent may email you the documents to sign, get notarized, and send back to the closing attorney. The balance of the money due can typically be sent to the closing agent’s escrow account via wire transfer or cashiers check.

Closing is always contingent upon the seller’s ability to deliver insurable title to the purchaser. In some states, the title policy is available prior to the auction for examination prior to bidding. In other states, the title is typically not ordered until after the contract has been signed and is delivered to the buyer to examine prior to closing. The contract will contain language regarding title examination procedure so that you can make certain you’re getting insurable title.


GET REGISTERED

If you are interested in buying at auction but aren’t sure where to start, you have come to the right place. At AMCbid, we empower our buyers to make educated decisions by breaking down the process in 4 steps:

  1. Do your homework
  2. Register to bid
  3. Get Approved
  4. Bid, Win, & Close

 

Auction Preparation and Registration Process

We understand that real estate transactions of any kind can be overwhelming and perhaps intimidating for a first time purchaser. Got questions? We’ve got answers:

What kind of homework do I need to do?

The truth is we do most of it for you! We go to great lengths to provide you with all of the information you need to make a decision that’s best for you. Check the auction listing to find all of the following:

It is important that you review these materials and understand the rules for buying at auction before you bid. We do the best we can to provide you with readily available information, but we encourage you to find any additional resources you may need to make a good decision to bid. Don’t forget about the Buyer’s Premium and Earnest Money Deposit. Get the facts, ask questions -- we're here to help!

 

How do I register for an auction?

Getting registered is easy. We only need a few pieces of information to get started so we can send you approval requirements for the specific auction that interests you. Here are the basic 3 steps:

  1. Go to the listing page of the auction and look for a button on the left that says “Sign-In”
  2. If you don’t have an account with us yet, follow the prompts to create an account and  agree to the “Terms of Use” for our bidding platform (not to be confused with Terms and Conditions)
  3. Once you have created an account, select the auction you are interested in and click “register to bid” fill out the required information and click “submit”. Your registration will remain pending until you have completed our approval process (if necessary).

 

What is the approval process?

We don’t always require you to be approved to bid, however it is a standard practice for most of our real estate auctions. Before being approved, one of our sale managers will contact you via phone or email to affirm that you agree to the Terms and Conditions of the sale and have submitted Proof of Funds if required. Proof of Funds requirements can be met by:

  • Submitting a bank Letter of Credit
  • Sending us a recent bank statement in your name (for your comfort, we suggest you blackout the account number)

Once you’re approved, we will walk you through auction day process for bidding live, online, or from your mobile device.

 

How do I bid at an auction?

If you attend a live auction, we can get you registered for the auction on-site as long as you provide your Proof of Funds (if required). If you are bidding from your computer or mobile device, simply follow the prompts on the mobile screen and place your bid according to the price the auctioneer is asking. If you cannot attend the auction in person or don’t have access to a computer at time of auction, you can place a maximum bid through the online platform and allow the system to bid on your behalf at the lowest bid increment. See video below for more instruction on our online bidding platform or let us know if you need help.

More Training Videos Here

Bidding is Binding

Once you’ve registered and been approved for an auction, you will have the right to bid as you wish and each bid you place is a binding contract. If you are the winning bidder, we expect you to sign the contract and deposit your Earnest Money within 5 business hours (M-F 8am-5pm ET)

 

Here are 4 points to remember before you place your first bid:

  1. Know the terms and conditions of the sale, do your own research, and set a limit that feels comfortable to you financially (and emotionally!)
  2. Remember to factor-in the Buyer’s Premium when placing your bid
  3. Don’t forget about the Earnest Money Deposit needed to secure your purchase
  4. Auctions can be very exciting! Try not to get caught up in the bidding process if you aren’t prepared to commit

 
 
 

 


this shit is private, yo! 


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We know how quickly things change, and we want you to be apart of those changes. Here you will find the latest industry news in the auction world, from case studies, to interviews with industry leaders, and perspective pieces from auction professionals. We will do our best to keep you educated and informed of the latest trends and relevant market news to keep you bidding with confidence and selling with support. We are eager to hear from you and welcome your input; read, learn, and enjoy!


How Do I Get Registered to Bid?

 

 

We want everyone to feel welcome at our auctions. 

 

To ensure that all bids are placed by bidders with the wherewithal to perform, all of our prospective bidders have to comply with registration requirements in order to be enabled to bid.

 

Not only do we want you to feel good about the bids you make, but we want to feel good about them too.  We know how exciting auctions can be, and we don’t want anyone to get carried away without proper funding behind them.

 

 

In order to register for one of our auctions, you must be approved first.

 

 

It’s fairly simple, submit one of the following documents and we’ll approve you to register for our next auction: 

  • Bank letter of credit 
  • Bank letter proof of funds
  • Bank statement proof of funds
  • Bid deposit (required by certain sellers)

 

Once you’re approved to bid,  set reminders for the auctions you’d like to bid on and bid at your own free will. 


Why Should I Buy at Auction?

 

 

It's satisfying to win.

 

Fortunately, you don't have to train like a track star before the race of an auction, but you may still get the feeling that you just crossed a finish line.

 

Auctions are a unique way to acquire assets and have been used as a method of buying goods dating back to 500 B.C. 

 

They may not be suitable for every purchase, but they generally offer the opportunity for property investment, asset procurement, and charity fundraising.

 

 

 

 

Auctions are a great opportunity to reel in the big fish you've been waiting for. 

 

Sometimes you get lucky and find an asset or item that you wouldn't normally find on the market. 

 

Auctions give you the freedom to price out other bidders for something rare or highly desirable. 

 

You will usuall get a great bargain, just ask our regular buyers!

 

Our closing process for real estate generally takes less than 30 days and we provide you with all the information you’ll need to take possession as soon as possible. Personal property and equipment must be paid for before removal.

 

Auctions provide the most transparent proof of what an asset is worth to someone, or to a group of someone’s, that are willing to fish them out. 
 


What Should I Know Before I Bid?

 

 

Analysis paralysis is the enemy of an unsure auction buyer. Don’t let a good buy get away from you as a result of being ill prepared. 

 

Before you register to bid at an auction, do your homework and make sure you’re bidding with confidence like little Jimmy here.

 

It’s up to you to gather all the information you need to make an educated decision on what you want. 

 

 

 

We do our best to provide you with all the specifics for every sale we do, but we recommend that you: 

  • Make sure you understand the terms and conditions of each sale 
  • Go visit the property/business/asset carefully
  • Review all documentation associated with the item
  • If you are not comfortable with contracts, have a lawyer review it beforehand
  • Set an approximate max bid for yourself based on your market knowledge
  • Make sure you have appropriate funding and get approved to bid

 

 

Educate, Don’t Hesitate! 

 

There are no refunds, exchanges, or second chances at auctions. 

 

Prepare yourself for wins or losses and you won't have to hang your head in shame like Melinda Melancholy. 

 

Once the gavel drops you may have lost your opportunity to get what you want at a price you can afford. 


How Does an Auction Work?

 

Auctions can be intimidating if you’ve never experienced the excitement of a live or online bidding war. 

 

Most people picture an exuberant crowd waving paddles in the air wildly...okay, maybe not quite like the photo shown here, but the truth is auctions can be a lot of fun.  

 

Until recently, the only way to be the winning bidder was to register and attend the auction in person.

 
 

 

 


The market has changed over recent years and so has our buying process. 


 

These days, the experience can be just as exhilarating from “the comfort of your own phone” by simply bidding from your mobile device or computer. 

 
 
Luckily, today we have laptops, smart phones, and WiFi to broadcast our bids, unlike the old days where you had to send your remote bids through a carrier pigeon.
 
 
 
This gives you the freedom to bid wherever you’d like and whenever you’d like, whether you bid from our mobile app, online, call-in to talk with one of our bid assistants, or attend the auction live and bid onsite. 

 

 

Bidding at a live or online auction can be done by just about anyone as long as you’re approved and registered to bid. With a little bit of homework and preparation, you can start buying at auction with confidence and assurance. 

So how does it all work?  It’s pretty simple and can be done in 3 easy steps

  1. Do Your Homework 

  2. Register to Bid

  3. Bid, Win, and Close  


Buying at Auction 

 

For those of you who are interested in buying at auction but aren’t sure where to start, you have come to the right place. With over 100 years of combined experience, our philosophy at AMC stems from the simple concept of good education.  

 

We understand that real estate investments of any kind can be overwhelming and even intimidating at times. Don't worry, it doesn't take a wizard or mathematician to check the facts before you bid. 

 

Our team goes to great lengths to provide the due diligence that our buyers deserve, and we urge you to secure both the financial and emotional security you need to make wise investments.

 

 

 

 “An Educated Bidder is a Better Bidder”

 

The approach is simple: we empower our buyers to make educated decisions by providing all of the facts at our disposal- both positive and negative- on each asset.

 

We ease you into the process by providing due diligence documents, full terms and conditions, open house inspections, and any relevant information to help you make an educated decision.

 

We do our best to provide access to our auctions through a variety of portals that enables you to bid whenever and wherever you are. 


How Do I Start the Real Estate Auction Process?

 

A successful auction can involve over 100 separate steps from beginning to end and because every case is unique, we customize our proposals based on the sellers needs.

 

 

We will submit all marketing materials and representations for your approval. We will use your contract, or submit ours for approval. You will receive regular marketing reports, project status, and feedback from prospects. 

 

 

We do the work, you maintain control and make the decisions.

 

 

We like to cater to the sellers needs, but we don't make promises that we can't deliver on.

 

 

We implement our marketing plan the moment we have a signed contract so the seller can sit back, relax, and enjoy the show. 

 

 

This carefully mapped strategy takes between 3 and 8 weeks depending upon the property type and the level of urgency.

 

 

 

 

 

 

Here is an overview of our process: 

Free Auction Consultation

We will review your property and your situation and provide recommendations and a plan tailored to your needs. 

Signed Agreement

We can begin implementation of the accelerated marketing plan immediately upon receiving your written authorization.

Property Facts Gathered

We gather all available information which we will use to prepare property files and marketing materials. If you have real property which is already listed, you do not need to terminate the agreement, as we prefer to include your broker in the marketing plan.

Accelerated Marketing Plan

Your property is exposed to the market through a combination of direct mail, newspaper ads, signage, outbound telemarketing, industry and neighborhood networking, advanced Internet marketing techniques, and other means. When possible, we will combine your property with others to expand the marketing reach.

Information Fulfillment

An informed buyer is a better buyer. We make is easy for bidders to obtain full product knowledge. Ad and signage call-ins receive brochures promptly via mail, fax, e-mail, or world-wide-web. Property information is packaged for bidder review. Preview periods enable bidders to inspect property prior to auction.

Real Estate Broker Alliances

Listing brokers accelerate the sales of their assets through auctions, while selling brokers earn generous commissions by registering buyers.

Auction Event

The auction event is handled smoothly and professionally by our auction day team. The tempo is upbeat, and bidding excitement is contagious as the auctioneer chants the price upwards. Contract signing and earnest money collection are handled quickly and efficiently to reinforce the buying decision.

Coordinating the Closing

On real estate transactions, our follow-up system assures that the contract speeds toward a successful closing, usually within 30 days of the auction.


Why Do People Sell at Auction?

 

There are 2 primary reasons that people choose to sell at auction: 

  1. The seller has an asset or item in high demand 
  2. The seller needs to liquidate assets quickly to free up capital 

 

Auctions are a unique and interesting way to liquidate assets by empowering buyers to fight peacefully for what they want.    

 

 

Sometimes assets can be burdens. If you're tired of hauling the dead weight, an auction may be a good fit for you. 

 

The benefits include:

  • Intensive Marketing Strategy

  • Choice of Sale Date

  • Control the Terms

  • Creates Urgency

  • Greatly Shortens the Disposition Timeline

  • Substantial Non-Refundable Earnest Money (Increases Certainty of Closing)

  • Sells "As-Is" with No Contingencies (Increases Certainty of Closing)

  • Assures Arms-Length Sale with Competitive Bidding

 

Whether you have a property in high demand or simply need to free up capital, auctioning your asset could be the best way to maximize value, get a return on your investment, or at least take a load off...

 

 

 

A list of questions to ask yourself before considering the auction process: 

  1. What will I do with the money I free up from the proceeds of a quick auction sale? (Give the money to a charity, family members, do something for myself, or make a better investment?)
  2. Can I afford to hold on to this property and have ongoing liability, expenses, taxes, assessments etc.?
  3. How much of my time have I spent dealing with this property? Can I spend it on fun stuff? More productive pursuits?
  4. Will the property lose value if I continue to hold onto it? Am I better off selling now?
  5. Will selling the property be a good way to dissolve a partnership? A lingering asset from a previous marriage? 
  6. Am I under pressure from my company to have an exit strategy for underperforming or poorly performing assets?
  7. Is there a lot of interest in this property? If so, do I dare to set a price and risk selling it for less than it may bring in a truly competitive sale?

What Should I Know Before I Sell at Auction?

 

Once we understand the unique attributes of your asset, we can optimize the auction method that best suits your needs in order to achieve the highest return

We specialize in a variety of auction styles, including: 

  • Commercial & Residential Real Estate
  • Financial Instruments
  • Portfolio & Business Liquidations
  • Personal Property
  • Collectibles & Antiques
  • Charity Fundraising
  • Industrial & Factory Equipment

 

Sorry parents, unfortunately we don't specialize in auctioning off naughty children, but auctions do offer other ways to free up time, liability, and capital.

 

 




 

Before deciding to sell anything, it is always wise to know what makes your asset unique or desirable.

 

If we both know what you have to offer, we have a much better likelihood of success. We evaluate every asset thoroughly before determining if it's a good candidate for the auction process.

 

We're not as desperate as Gertrude and Maude here, we will not recommend that you accept any ole' offer on the table and we'll be the first to tell you if the auction process isn't a good fit for you.  

 

We advise all of our sellers to review a list of questions to ask themselves before they send their property to auction.
 

 

 

 

Meet Your Match:

 

Are you ready to sell your asset?  Do you want to:

  • Free up capital?

  • Reduce operating costs?

  • Set the sale date and closing date?

  • Control the terms and conditions of the sale?

  • Assure the maximum level of bidding for my asset?

  • Use marketing professionals to promote my asset to a wide array of buyers? 

 

 

 

Am I a Good AMC Auction Candidate?

My Asset Rocks

Congratulations asset rocker! If you’ve got a kick-Asset that people want and are willing to pay for, there is no better way to liquidate your property than by the auction method. 

Auctions for high-demand assets are like MasterCard commercials: they’re priceless. 

My Asset is Distressed

Hey, we get it and we’re here to tell you that you’re not alone. It’s natural to be hesitant or concerned about what to do next; we hear it all the time: 

Q:  What should I do if my house is underwater?

       A:  Be honest with us. Many times we can get the lender involved as they usually do not want to have to foreclose and may agree to take less 

Q:  What if there is a lien on my property? 

       A:  Let us know. We will tell you if it is likely to be an obstacle 

Q:  What if I’m considering filing for Bankruptcy? 

       A:  Let us give you an honest assessment of value before taking that step. Once you have bankrupted, the rules change 

Q:  What if the property is going into foreclosure? 

       A:  Do not wait until it is too late. We need 30 to 45 days to market a property, and we cant help you if you call 2 weeks before the foreclosure

Good news for what may have seemed like bad news…these “issues” are music to an investor’s ear! 

With the economic changes in real estate over the past several years, our more astute sellers are sending their assets to auction. Likewise, investors have learned the benefits of bidding on distressed real estate.

Hence, why auctions are so popular right now. Savvy buyers rarely purchase from agents these days. Auctions have become one of the most common ways to pick up an asset and our investors are gobbling up real estate.

My Business Needs Liquidating 

We call it FF&E in the auction world.  It stands for furniture, fixtures, and equipment and we’ve done everything from door manufacturing plants to commercial grade security systems to movie sets. Some of our best buyers are second-hand FF&E distributers and will generally pay a pretty penny to snatch up these goods in bulk.  

I want to clean up my portfolio

There’s nothing better than cold hard cash. For many of our sellers, they are ready to stop the bleed of property taxes and other expenses to free up cash and invest in other projects. Whether you’re tightening up your investment portfolio, raising money for other investments, or require funds for pay off creditors, the auction method is a sure-fire way to raise cash as fast as possible. 

I want to raise money for my foundation/charity

Bake sales are nice and sweet, but they may not provide the big donation dollars that a successful auction could bring. We understand the value in strategic auction fundraising and can help guide you through the most effective auction methods from A to Z. 


How Does an Auction Work? 

 

 

Every auction is unique. The first step in our process involves a throrough understanding of what you would like to auction and why.

 

We've heard it all, the weird, bad, beautiful, and ugly and we don't discriminate. Auctions aren't best for every situation, but we are eager to see if we can help and we'll be the first to tell you if we can't.  

 

Once we understand your situation, we can select the key ingredients for your marketing strategy in order to achieve the most profitable results.  

 

 

 

 

Once we have a signed agreement, we implement the marketing strategy immediately. 

 

We use an accelerated marketing plan to get the word out quickly and efficiently. In essence, we attempt to "let the world know" as much as we can about the details of your asset so buyers can make educated and committed decisions. 

 

 

 

 

 

 

When auction day arrives, we finalize the registration process and ensure that all of our bidders have been approved.

 

A typical auction can last anywhere from 5 minutes to a half an hour, depending on how many interested parties are bidding online, from our mobile app, or live onsite. 

 

We typically close real estate sales within 30 days of the auction sale. Equipment and personal property must be paid in full before removal.


It is our mission to apply the auction method in a unique and effective way that helps grow new markets, rebuild communities, and raise money for great causes. By supporting our sellers, educating our bidders, and partnering with national industry experts, we strive to be the leading provider of auction resources around the nation.



What Set’s Us Apart?

 

The auction industry may be small but the people in it are mighty; we’re lucky to be friends with most of them and work with partners around the country on a regular basis. This gives us a foothold in the market and the ability to offer our services on a national level. Unlike most auction companies who specialize in only one region or one type of auction, we have diversified our team and affiliates in order to offer expertise in several arenas spreading across the U.S. Not to mention, we like to have fun!

 

Bringing the Past into the Future

 

Our philosophy is defined by merging the timeless fundamentals of the auction industry with innovative marketing techniques and user-friendly bidding technology. At AMCbid, we have preserved the practices of the auction industry through handshakes, friendships, and the live auction “bid-call” and brought them into today’s modern world by offering sophisticated auction software that supports online and mobile bidding. (link to download app)

 

Short-Term Goals: Creating Auction Awareness
                                      

To stimulate growth in the auction industry. We hope to create more awareness by providing educational resources and professional support for individuals participating in any aspect of the auction process

To nurture the growth of our affiliate network. We believe that by establishing partnerships with industry experts, we can work together to build a more educated auction community of buyers and sellers

To respond to the growing needs of our clients. We are committed to evolving with the market by providing user-friendly technology and informative resources to make the auction process easy and fun


Mission and Goals

 


 

We believe that the auction method is a unique and effective way to grow new markets, re-build communities, and raise money for great causes. By supporting our sellers, educating our bidders, and partnering with national industry experts, we strive to be the leading provider of auction resources around the nation. 

 

 

 

 

 

We’re excited to announce that we are expanding the company and look forward to taking on new projects as we move forward!

 

 

Our Short Term Goals:                                          

  1. To stimulate growth in the auction industry. We hope to create more awareness by providing educational resources and professional support for individuals participating in any aspect of the auction process

  2. To nurture the growth of our affiliate network. We believe that by establishing partnerships with industry experts, we can work together to build a more educated auction community of buyers and sellers 

  3. To respond to the growing needs of our clients. We are committed to evolving with the market by providing user-friendly technology and informative resources to make the auction process easy and fun

 

 

Our long-term goals are to diversify our auction services in 3 main directions: 

 

  1. Strategic community fundraising- we hope to grow awareness for philanthropic organizations about the many benefits of using the auction method to reach fundraising goals and create lasting relationships with donors
  2. Personal property in high demand- we want to demonstrate the importance of using the auction method to liquidate desirable assets with a strategic marketing plan and definitive sale date to create demand and urgency
  3. Estate planning and liquidations- we hope to offer estate planning services that prepare individuals for the future of their assets, land, and collectibles to ease the stress of estate liquidations during times of loss

Membership Organizations

National Auctioneers Association (NAA)

Founded in 1949, the National Auctioneers Association (NAA) is the world’s largest professional association dedicated to professional auctioneers. The NAA was built by auctioneers, for auctioneers. Headquartered in Overland Park, Kan., the NAA represents the interests of thousands of auctioneers in the U.S., Canada and across the world.

 

 

 

 

 


Georgia Auctioneers Association

The Georgia Auctioneers Association is a strong trade association of professionals who have organized to promote and advance the auction profession.

 

 


National Association of Bankruptcy Trustees

The National Association of Bankruptcy Trustees (“NABT”) is a nonprofit association formed in 1982 to address the needs of chapter 7 bankruptcy trustees and to promote the effectiveness of the bankruptcy system as a whole.






 

 

 


American Bankruptcy Institute

The American Bankruptcy Institute is the largest multi-disciplinary, non-partisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues.

Risk Management Association

 RMA is a member-driven professional association whose sole purpose is to advance sound risk principles in the financial services industry.

 


 

Turnaround Management Association

The Turnaround Management Association is the only international non-profit association dedicated to corporate renewal and turnaround management.

 


 

Professional Designations

Certified Auctioneer Institute

Established in 1975, the Certified Auctioneer Institute is the most revered professional designation an Auctioneer can acquire. Commonly referred to as CAI, the program focuses on developing the skills required to operate a successful auction firm and business.

 


Accredited Auctioneer Real Estate

The Accredited Auctioneer Real Estate (AARE) professional designation was created to provide Auctioneers with custom education and advanced training in the selling of real estate at auction.

Our People

For over 20 years, AMC has invested time and resources into hand-selecting the most knowledgeable affiliates and reputable auctioneers from varying markets around the country. We believe that strong communities cultivate impactful marketing efforts and that this is what makes our auction team unique. 


Selling at Auction

Auctions can be a valuable tool for an asset owner or disposition manager in many situations.

 

When we get an assignment from a client, we make sure that we have properly targeted the relevant buying market, and created the incentive for them to attend and bid competitively, and that the price paid reflects the market at that time.

 

For over 20 years, Auction Management Corporation has invested resources into the development of meaningful relationships with clients and understands the importance of teamwork, community awareness, and the input of trusted affiliates in order to maximize success.

 

In the photo shown here, a house is being moved across a railroad track with the help of an entire community. We may not require the same level of man-effort today, but our team philosophy remains the same; stick together and achieve more.

 

We ensure every asset is being promoted and advertised through a customized accelerated marketing program that fits the sellers needs. Our carefully mapped strategy takes anywhere between 3-8 weeks depending on the property type and level of urgency. 

 

"It takes a village to raise a child...(or to move a house)"

 

We understand the value in building strong relationships with respected auctioneers and knowledgeable affiliates around the country.

 

In contrast to many of our competitors, we don't claim to have a foothold in every market around the nation, nor do we believe that there is one best way to auction an asset. The people in our circle are more than just business associates, we are also proud to call them our friends.

 

Whether you have a property in high demand or simply need a quick sale, our years of experience combined with the teamwork of our affiliate network enables us to set realistic expectations for our sellers and buyers while preserving the integrity of our historical success.


The Company 

    

 At AMC, we understand the value of team work and support. 

 

We believe that a solid foundation allows us to grow stronger by working together and specializing in what we're good at. 

 

Whether we are selling former bank branches, liquidating a home owners estate, breaking down manufacturing equipment, or raising money for a fantastic cause, we have found that the auction method works best when we work with the best. 


Can we help you find something?


Online Auction Terms and Conditions

Registration:
In order to obtain authorization to bid online, you must register beforehand in accordance with the required fields on the Bidder Registration form. The registration form will be reviewed by an Auction Management Corporation representative and an email will be sent once you have been approved to bid.

Purchase and Sale Contract:
Each property is offered under the specific terms provided in the Auction Purchase and Sale Agreement (PSA). The PSA is available at www.auctionEbid.com for each specific property. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and review the Purchase and Sale Agreement, Do Not Bid!

Auction End Times:
All Auction Management Corporation (AMC) Online Only Real Estate Auctions are timed events. Auctions with multiple properties have staggered end times with 10 minutes between each ending. 

EXAMPLE: an auction scheduled to end at 3:00 PM will close the first property at 3:00 PM., the second at 3:10 PM, etc. AMC Online Only Real Estate Auctions also have an auto extend feature. Any bid placed within 10 minutes of the auction ending will automatically extend the auction for 10 minutes from the time the bid is placed. Example, if an auction scheduled to end at 3:00 PM receives a bid at 2:59 PM, the close time of the auction automatically extends to 3:09 PM. The auto-extend feature remains active until no further bids are received within the 10 minute time frame.

From time to time, we will have an event with multiple assets where we give the option of bidding on multiple assets, such that a single buyer can buy many or all of the assets in that auction, as long as their bid exceeds the total of all other bids on the assets they wish to purchase. In this case, bidding on all assets in the auction is kept open until a set period after the last bid is placed on any asset in that auction, usually 5 minutes.

Personal Property Terms:
When selling non-real estate assets, the terms are due immediately after being declared the winning bidder, in the form of cash, certified funds, or wire transfer.

Real Estate Terms:
At the close of the auction, successful bidders will be emailed a PSA to be executed and returned to Auction Management Corporation. Successful bidders will submit the required earnest money deposit in the form of a cashier's check or wire transfer to Auction Management Corporation or other designated broker or escrow agent as identified for the specific property. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees. 

Contract documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to Auction Management Corporation within 24 hours of the end of the auction. 

Successful bidders not executing and returning their contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. 

Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, AMC will reject the registration, and bidding rights will be terminated.

Buyer's Premium:
A buyer's premium will be added to the bid price to determine the final contract price. The amount of the buyer's premium will be listed for each auction. It typically ranges from 5% to 10%.

Buyer's Premium Example (Using a 10% Buyers Premium):
Bid Price: $100,000
Plus 10% Buyer's Premium: $10,000
Total Contract Price: $110,000

Real Estate Closings:
Time being of the essence, all sales shall be closed within the indicated timeframes (usually 30 days, but sometimes less). The seller will pay for preparation of the deed of conveyance, and all ad valorem taxes up to the date of closing. HOA fees and condominium assessments, if any will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with real estate sales.

Property Inspection:
For most assets, the inspection date is posted on that listing Please contact the representative listed for each asset if you have questions about inspection dates and times or to arrange a private showing. 

Broker Participation:
On designated real estate assets, a co-op commission is available to properly registered brokers. The amount of the commission, if any, is posted on the listing for that asset. A broker participation from with complete instructions is available at www.auctionEbid.com

Agency Disclosure:
In all transactions, the auctioneer is acting as agent for the seller, not as buyer's agent.

Disclaimer:
All information contained herein is believed to be correct to the best of the Auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. Each bidder must conduct and rely solely upon their own investigation and inspection. All assets are sold "AS IS" with any and all faults. Please review all information supplied and seek appropriate assistance prior to bidding.

Real Estate - Lead Based Paint: 
Under Title X, the purchaser of a single family residence built before 1978 has a maximum of 10 days to inspect the property for the presence of lead-based paint. All winning bidders must sign a waiver of the 10 day post sale inspection period.

Real Estate Notes: 
Financing is not a contingency in any auction. Do not bid unless you are capable of closing for cash within the specified time period. Keys may or may not be available. It is Purchaser's responsibility to re-key property after closing. Certain Sellers may wish to effectuate 1031 tax exchanges. Purchasers agree to cooperate and execute necessary documents to enable Sellers to complete the transactions. All property is sold subject to easements and covenants of record. Real Estate to be conveyed by Limited Warranty Deed. Auctioneer is acting as agent of the Seller, not as buyer's agent.


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Sample Link

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Other Elements (italic, bold, superscript, subscript, font color, and font highlight respectively)

The quick brown fox(1) jumps(2) over the lazy dog.


Welcome to AMCbid

At Auction Management Corporation, we understand the value of team work and support. We believe that a solid foundation allows us to grow stronger by working together and specializing in what we're good at. 

Whether we are selling former bank branches, liquidating a home owners estate, breaking down manufacturing equipment, or raising money for a deserving cause, we have found that the auction method works best when we work with the best. 

 

Current Upcoming Auctions: 


Assets in GA, FL, and TN

  •   Monday, September 12, 2016 @ 11:00am (Start)
  •   Wednesday, September 14, 2016 @ 11:00am (End)
  •   Add to Calendar

Online Only Lender Liquidation & Court Ordered Receivership Auction Investment Opportunity: Single Family Residential & Developed Lots


Online Only Absolute Auction of All Remaining Assets of Former Woodworking Shop

Bank Ordered Absolute No Reserve Auction
Bidding Starts to Close: 
Thursday, August 25 at 11:00 AM
 
Kappa Sliding Table Saw, Open End Paint Booth, Oneida Air Exhaust System, Laguna Boring Mill, Laguna Edgeboarder, Grizzly Planer and more.


Online Only Absolute Auction of All Remaining Assets of Former Woodworking Shop

Bank Ordered Absolute No Reserve Auction
Bidding Starts to Close: 
Thursday, August 25 at 11:00 AM
 
Kappa Sliding Table Saw, Open End Paint Booth, Oneida Air Exhaust System, Laguna Boring Mill, Laguna Edgeboarder, Grizzly Planer and more.


Aug 25

Online Only Absolute Auction of All Remaining Assets of Former Woodworking Shop

  •   Thursday, August 18, 2016 @ 11:00am (Start)
  •   Thursday, August 25, 2016 @ 11:00am (End)
  •   Add to Calendar

Preview: Wednesday, August 24 from 10:00 AM - 1:00 PM Bidding Starts to Close: Thursday, August 25 at 11:00 AM Pickup: Friday, August 26 from 9:00 AM - 5:00 PM NO EXCEPTIONS, SO PLEASE PLAN & BID ACCORDINGLY! Kappa Sliding Table Saw, Open End Paint Booth, Oneida Air Exhaust System, Laguna Boring Mill, Laguna Edgeboarder, Grizzly Planer and more.


Online Only Auction of Double Zero Napoletana Restaurant FF&E

Double Zero Napoletana Is Moving!

All Remaining Assets, Signature Furnishings, Kitchen Equipment & Much More From Double Zero Napoletana - Selling Online Only with No Reserves!

Bidding Starts to Close:  August 11, 2016 at 6:00 PM

Pickup: August 12 & 13 - NO EXCEPTIONS, SO PLEASE PLAN & BID ACCORDINGLY


Online Only Auction of Double Zero Napoletana Restaurant FF&E

Double Zero Napoletana Is Moving!

All Remaining Assets, Signature Furnishings, Kitchen Equipment & Much More From Double Zero Napoletana - Selling Online Only with No Reserves!

Bidding Starts to Close:  August 11, 2016 at 6:00 PM

Pickup: August 12 & 13 - NO EXCEPTIONS, SO PLEASE PLAN & BID ACCORDINGLY


Test Auction for AMC

  Auction Location

This is the simple description.


Entire Liquidation Auction of Hampstead Lighting Inventory + FF&E

SECOND CHANCE AUCTION- DON'T MISS THIS OPPORTUNITY TO BID ON MORE ITEMS IN THIS 1 DAY AUCTION!
GO TO http://www.auctionebid.biz/cgi-bin/mndetails.cgi?howell5
Thousands of Pieces of Designer Lighting to Choose From!
After over 30 years serving as one of the world’s premier decorative lighting providers, Hampstead Lighting is closing it’s doors.
 
Specially chosen designer lighting from countries around the world including Spain, Italy, France, Germany--and more!
Vistosi, SCE, Solzi Luce, Milan, DI Art,  Luchitalia, Sil Lux, Art Luce, Grossmann, Ricca by Hampstead, and many more.
Listed are fixtures for residential, commercial and  the hospitality industry, modern and classical styles, chandeliers, chandelier parts and Swarovski crystals.
Also included are parchment shades and parts for all manner of lighting projects.
Individual items and bulk lots available, over 500 lots!
All Selling Online Only to the Highest Bidders!


Entire Liquidation Auction of Hampstead Lighting Inventory + FF&E

SECOND CHANCE AUCTION- DON'T MISS THIS OPPORTUNITY TO BID ON MORE ITEMS IN THIS 1 DAY AUCTION!
GO TO http://www.auctionebid.biz/cgi-bin/mndetails.cgi?howell5
Thousands of Pieces of Designer Lighting to Choose From!
After over 30 years serving as one of the world’s premier decorative lighting providers, Hampstead Lighting is closing it’s doors.
 
Specially chosen designer lighting from countries around the world including Spain, Italy, France, Germany--and more!
Vistosi, SCE, Solzi Luce, Milan, DI Art,  Luchitalia, Sil Lux, Art Luce, Grossmann, Ricca by Hampstead, and many more.
Listed are fixtures for residential, commercial and  the hospitality industry, modern and classical styles, chandeliers, chandelier parts and Swarovski crystals.
Also included are parchment shades and parts for all manner of lighting projects.
Individual items and bulk lots available, over 500 lots!
All Selling Online Only to the Highest Bidders!


Online Only Foreclosure Auction of 1,180±SF Condo in Hallandale Beach, FL (Broward County)

Secured Creditor Will Not Bid
Online Only Bid Deadline: Wednesday, July 27th at 11:00 AM ET


Online Only Foreclosure Auction of 1,180±SF Condo in Hallandale Beach, FL (Broward County)

Secured Creditor Will Not Bid
Online Only Bid Deadline: Wednesday, July 27th at 11:00 AM ET


Jul 27

Online Only Foreclosure Auction of 1,180±SF Condo in Hallandale Beach, FL (Broward County)

  •   Monday, July 11, 2016 @ 11:00am (Start)
  •   Wednesday, July 27, 2016 @ 11:00am (End)
  •   Add to Calendar

Secured Creditor Will Not Bid Online Only Bid Deadline: Wednesday, July 27th at 11:00 AM ET


Pre-Sold!
Jul 20

5± Acre Equestrian Site With Barn in Fallon, NV (Churchill County)

Auction Pending

5± Acre Equestrian Site With Barn
1769 Sheckler Cut-Off, Fallon (Churchill County), NV 89406
Online Only Auction
Bid Deadline: Thursday, July 21st, 2016 at 11:00 AM PT


Pre-Sold!
Jul 20

5± Acre Equestrian Site With Barn in Fallon, NV (Churchill County)

Auction Pending

5± Acre Equestrian Site With Barn
1769 Sheckler Cut-Off, Fallon (Churchill County), NV 89406
Online Only Auction
Bid Deadline: Thursday, July 21st, 2016 at 11:00 AM PT


SOLD for $169,112!!
Jul 9

57+/- Acres just off Fairview Rd. in Fountain Inn, SC

Saturday, July 9th @ 11:00AM-Onsite

56.94+ Acres offered in 2 Parcels just off Fairview Rd. across from the Fairview Equestrian Center. Ideally suited for Residential, Farm/Ranch or Recreational use.

Selling for the Thaddeus B. Reeves Trust under Will!