Real Estate Auction Services
New England’s Trusted Auction & Real Estate Professionals
We are pleased to introduce Thomaston Place Auction Galleries’ Real Estate Auction Services. This new division is focused on assisting clients with the sale of real estate at auction. We handle special and unique properties, with the added benefit of speed and simplicity of auction transactions.
Thomaston Place Auction Galleries is a bonded auction company licensed in the State of Maine and known throughout the world as a trusted provider of professional auction and appraisal services. Our high standards and discretion have earned us the trust of buyers and sellers worldwide in handling cherished possessions, including antiques, fine art, vintage vehicles, important historical or unique objects, and real estate.
Our real estate partner, Newcastle Square Realty Associates in Damariscotta, is a leading provider of buyer and seller services, with a staff of over ten full-time, professional brokers. They specialize in providing a unique menu of services to help buyers and sellers achieve their goals quickly and with appropriate guidance and support.
The combined expertise gained through this partnership has created a new, unique option for selling premium Maine real estate. This new approach incorporates three important client benefits:
- Integrated guidance of professionals from two venues: real estate and auction
- Access to a full array of real estate marketing and visibility tools
- A pre-determined timeline and property sale date
WHY CONSIDER SELLING YOUR PROPERTY AT AUCTION
- Upfront Preparation: Your property deserves a sales approach that highlights its special benefits and unique characteristics. All important details and research are completed and integrated into sales materials before the auction is promoted. These materials anticipate and answer prospective buyer questions.
- Competitive Bidding: The auction approach consists of real time competitive bidding by multiple interested parties to establish a market value for your property. The sense of urgency created in auction situations can often enhance the final price achieved.
Pre-Determined Timing: With the auction approach, your property will be marketed and sold on a pre-determined timeline that includes set dates for showings, the auction, and the closing. This timeline is generally much shorter than that of a conventional real estate sale.
Sale Without Contingencies: Upfront preparation includes conducting all necessary inspections and due diligence, and auction bidders are required to have financing arranged in advance of the sale. Therefore, the auction buyer’s final bid is without contingencies that could cancel or cause a re-negotiation of the sale.
Seller Control: You, as seller, can set a reserve price at reasonable market value. We make every attempt to meet or exceed your expectations. However, if the bidding falls short of the reserve, you will have final say to accept or reject what is on the table.
FIVE STEPS TO A SUCCESSFUL PROPERTY SALE BY AUCTION
1. First Meeting: We will first meet with you to gather important details:
- Review the current status of the real estate market your local area
- Ascertain your particular situation and expectations
- Determine key attributes and benefits of your property
2. Proposal: You will receive a step-by-step proposal which will identify how we intend to promote and sell your property, which includes:
- Property analysis: This is a complete assessment of all of the attributes that make your property unique, highlighting the items that are not taken into consideration in a general comparable analysis process (i.e. quality of construction, waterfront location, historic, etc.).
- Budget, including projected costs of necessary inspections/tests and marketing expenses
- Marketing strategies and program, including publicity and media plans, internet visibility, direct marketing activities, printed materials, and signage
- Timeline, from auction preparation to closing
3. Auction Preparation: Upon receipt of a signed contract, Thomaston Place Auction Galleries and Newcastle Square Realty will execute each line item identified in the proposal, develop property information materials to ensure that all potential bidders’ questions are answered before they ask, develop plans for showing your property, execute the marketing plan, and make preparations for sale day.
4. Auction Day: On auction day, bids will be accepted from properly registered bidders who are present or participating by absentee, telephone, or online internet bidding platforms.
To further open the pool of bidders for your property, buyer broker compensation is available to real estate agents who are representing potential buyers for your property.
Upon conclusion of the auction, the successful bidder will enter into a purchase and sale agreement for your property.
5. The Closing: The closing will be scheduled within 30 days of the auction date.
FOCUSED ON YOUR SUCCESS
What sets Thomaston Place Auction Galleries and Newcastle Square Realty apart is that we balance world class marketing with caring, personalized attention for each client by:
Providing the best quality service possible
Sharing our knowledge and expertise, because informed customers buy and sell with confidence
Creating a positive and enriching experience by handling every property with care and sensitivity
Working as a partner with sellers to generate the best possible sales outcome
Incorporating the best features of the auction approach with proven real estate industry strategies and tools
John D. Bottero, AARE, ME Auc Lic. # AUC 1237
Thomaston Place Auction Galleries, 207-354-8141
Newcastle Square Realty