Looking to Buy?

As a buyer, you determine the purchase price, and you know that the seller is fully committed to the sale.

At Morris Realty & Auction we are here for you! You determine the purchase price and we handle the rest. In multi-property auction, you can even view several properties at the same time. As a buyer, you know that you’re competing fairly and on the same terms as all other buyers.

Remember:

  • Smart investments are made when properties are purchased at fair market value through competitive bidding.
  • Auctions eliminate long negotiation periods and reduce time required to purchase a property.
  • Purchase and closing dates are known in advance.
  • Buyers receive comprehensive information on the property via a due diligence packet.
  • The buyer knows the seller is committed to sell
  • In multi-property auctions the buyer sees many offerings in the same place at the same time
  • Buyers determine the purchase price through competitive bidding
  • Auctions reduce time to purchase property
  • Buyers know they are competing fairly and on the same terms as all other buyers

How Do You Bid at an Auction?

  • Do your homework.
    • Attend the Open House when they are scheduled.
    • Research what comparable properties are selling for by looking at past sales on websites such as Zillow.com or Trulia.com
    • Prepare a list of repairs that are needed so that you may factor that cost in your bid.
  • Get your financing lined up.
    • Get pre-approved for a mortgage or other financing to be able to pay for the property.  Even though you have 30 days to close, the sales contract does not allow any contingencies especially for financing.
    • Make sure your money will be available on closing day.
  • Attend the auction
    • You will need your driver’s license or other form of government issued identification.
    • Fill out a one page registration form.
    • Raise your hand to bid.  The auctioneer will call for bids and will keep on until no one advances the bid.
  • Sign the Sales Contract if you are the high bidder.
    • You will sign the Sales Contract for the amount you bid PLUS 10% Buyer’s Premium.
    • You will pay a Non-Refundable Deposit that will applied towards the purchase price.

We specialize in a variety of Auctions

  • Residential Real Estate

  • Commercial Real Estate

  • Charity Auctions

  • Agricultural Auctions

  • Investment Properties

  • Industrial Real Estate

  • Estate Auctions

  • Recreational & Timber Auctions

Memberships

NAA Auctioneer
Arkansas Auctioneers Association
Tennessee Auctioneers Association
Mississippi Auctioneers Association
Memphis Area Association of Realtors

Contact Us Today!

Want to have an auction? Need to consign items in our next auction? Interested in some of our Property For Sale? Please feel free to contact us to discuss your specific needs.