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The material goods are marked for sale Friday and Saturday, June 8-9, as part of a string of absolute auctions to convert assets to cash and repay lenders and other creditors more than $4.5 million.
This is why larger farms are being sold at absolute auctions and cut into acreage tracts.
Then contact Realtors and absolute auction companies for listings of small farms.
No sale." Unlike absolute auctions where everything goes at the top bid, the owners at the Trenton sale have the right to reject any and all offers.
Alliance had already held two absolute auctions with Daye, confirming the appeal to a seller of this kind of sale where the property is sold to the highest bidder, regardless of the amount of the bid.
Alliance found that absolute auctions brought out the most enthusiastic and unreserved bidders, producing the best overall dollar results, as properties were sold with no further negotiations to the highest bidder.
The advertisement heralding an absolute auction had been circulating for weeks.
The property that was "boldly" placed on the absolute auction block was an uninhabitable house appraised at $12,000, if the mortgage company completed repairs estimated at $7,000.
Admittedly, it is an agonizing decision for a lender to actually take the absolute auction route.
Farms are being subdivided into tracts on a large scale in Tennessee, and the majority of this land is sold at absolute auctions. Recently I attended a 500 acre sub-divided farm absolute auction and the land sold for $1,700 to $2,500 an acre.
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