Public perception of auctions is changing and becoming the first choice for people who want to sell and buy
real and personal property.
Source: NAA Auctioneer
Believe In Auctions
P.O. Box 477
Merton, WI 53056
262.538.1600
Toll-Free: 866.470.2358
Faq's
(double click video for full screen)
Heidi Miller, Tim Miller, Ken Thiel and Carol Miller explain the Auction Method of Marketing and Selling Real Estate.
How long will it take to sell my property?
It typically takes 30-45 days from signing the contract until the auction date.
How do I bid on a property?
All bidders must register with Believe In Auctions on the day of the auction with a valid
drivers license. The winning bidder must pay an earnest deposit (cash, cashiers check, or personal check) on the day
of the auction.
Can I set a reserve price for my auction?
Yes. You can either auction your property as an Absolute Auction or as a Reserve Price Auction. An Absolute Auction
does not have a minimum set price, which guarantees the property will be sold that day. A Reserve Price Auction allows
the seller to set a minimum price that they are willing to accept. If the price is not met, the seller does not have to
sell the property.
Is there a buyer's fee?
The buyer's fee determined on an auction by auction basis. Please see the specific auction terms for the actual buyer's
fee.
Is there a seller's fee?
The seller's fee is negotiated on a auction by auction basis. Please contact us for more information.
How much does it cost to auction my property?
It depends. You are responsible for the upfront advertising costs. These costs are typically 2% of your Reserve Price.
Please contact us to discuss your specific costs to market your upcoming auction.
Are there closing costs?
Yes. The seller pays all closing costs which generally total at least $1500 including title exam, title policy, closing
fee, filing costs, and any other fees noted for the sale.
Will I receive a good title?
Yes. The properties we sell are transferred by Deed prepared by the Seller with Insurable Title as determined by the
Title/Closing company. The Title/Closing company also prepares and issues a customary Owner's Title Insurance Policy.
Can I bid for someone else (i.e. friend or family member)?
No. Whoever is the high bidder must execute the Contract in their own name unless they have written proof of being an
Attorney of Fact.
Can I use my own title company?
Yes. You may use your own title company. If you do not have one, we can refer you to one of our reputable title
companies.
Can I use bank financing?
Yes. You must be "pre-qualified" by a lender as to the amount you can afford to spend for the property being auctioned.
I am a real estate agent, can I earn a fee?
Possibly. Any licensed professional who represents the winning bidder may be eligible for a finder's fee. The finder's
fee is determined by the seller. Please ask us if a finder's fee exists for a specific auction.
Is the down payment deposited?
The winning bidder's down payment is deposited into Believe In Auctions, LLC's premium trust account.
As the winning bidder, can I work on the property before closing?
Buyers are not allowed to do any work on the property until after the closing.
Do I get the keys?
No, access or keys are only provided after the closing. The closing date is typically 30 days or less from the auction
date. If a professional needs access prior to closing, they should contact Believe In Auctions to arrange access.
Will I be responsible for back taxes and/or liens owned by the seller?
In most cases, no. Any back taxes or liens will be cleared by the seller prior to closing, or the buyer will receive a
refund of his/her deposit, unless otherwise indicated in the description of the property.
Will I know if a property has met its reserve price?
After a property reaches its reserve price, the auctioneer will announce that the reserve price has been met and the
property will be sold that day.
