Selling real estate at auction can be an attractive method of sale among trustees and executors. Court appointed trustees have successfully used the auction process for many years. The principles and heirs whose interest they represent have benefitted from the results. The auction process uses a highly visible advertising and promotional campaign combined with the excitement of competitive bidding to achieve the highest possible sales price with skill, speed and accuracy . An auction represents the purest form of supply and demand, as it exhibits just how much the public is willing to pay.

This process not only produces the highest results, but it has also been upheld by the courts as the process that most fairly determines a particular property's true market value. In other words, the trustees and executors who use this transparent process can be confident that they have met their fiduciary responsibility of getting the best sales prices for their principles' properties.

There are many reasons for trustees and executors to consider an auction, bur perhaps the strongest reason is when the estate requires a conspicuous sale. This situation is best illustrated where an estate might have multiple beneficiaries or disagreeing heirs. Equal opportunity must be given to all interested parties enabling them to aggressively pursue purchases. We believe that it is essential to demonstrate to the marketplace, that many parties would be interested in acquiring a particular asset, assets or an entire estate.

In short, we find that our program of high profile brokerage services coupled with our wide exposure through the Fuchs Real Estate Auction process, brings more serious prospects and focuses more attention on valuable assets than can be accomplished through traditional negotiated means. We have developed a database from our residential, commercial and unique property offerings, that allows us to access thousands of serious prospects.

For you, as a trustee or executor, involved with real estate, the auction method provides fiduciary protection and at the same time, will maximize the value of your principles' properties. For a confidential consultation, call Fuchs today at (212) 213-5755.