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“Auction Price = Market Value?” 2hr CE Seminar
Tom Abbott, Senior Vice President, CB Richard Ellis
Dan Ivanoff, Managing Investment Partner, Schnitzer West
Jeff Powell, Owner, J.L. Powell Company, Auctioneers
Elaine Wilcox, Vice President, Special Credit Administration, Banner Bank
With questions of liquidity swirling around the market, more owners and agents are exploring auctions as a way to market properties. Our panel members have participated and are experienced in various aspects of the auction process and will address a variety of issues regarding the viability, pricing and functioning of real estate auctions. The seminar will conclude with an audience question and answer session.
An overview of various types of real estate auctions and their suitability to different situations.
- Open outcry auction on the courthouse steps for foreclosure properties
- Modified bid auction for investment grade properties
- Full preview auctions for condos or new homes
- On-line auction for land parcels
Issues
- Are real estate auctions a viable way to quickly sell property?
- Does an auction imply a liquidation at a price less than the market value?
- What conditions must be present in order to achieve market value?
- What kinds of properties are best suited for an auction sale?
- Do REO properties sold at auction result in low prices?
- How are real estate auctions run?
Education Credit
This program was developed and is administered by the Seattle Chapter. Attendees are eligible to receive 2 hours of continuing education from the Appraisal Institute and Washington State.
Lunch Entrée
Herb roasted turkey breast with natural gravy, mashed potatoes and seasonal vegetables.
If you require a chef’s choice vegetarian option, please contact the chapter office after completing your online registration, aisea@qwestoffice.net.
Prepaid Members - February 23, 2010 is the last day to purchase prepaid meals!
$270.00 – Prepaid Meals 2010 (King County Residents)
$190.00 – Prepaid Meals 2010 (Non-King County Residents)
Early registration discount when registering by February 18, 2010
$0.00 – Prepaid Meals Members*
$55.00 – Appraisal Institute Members
$75.00 – Non-Members
Registration after February 18, 2010
$0.00 – Prepaid Meals Members*
$65.00 – Appraisal Institute Member
$85.00 – Non-Member
* Prepaid Members must register prior to the meeting by submitting a printed form to the chapter office. Online registration is NOT available for Prepaid Members. 2010 Prepaid Meals are not transferable. |
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