Sealed Bid Sales
No other company conducts more Sealed Bid Sales than NRC. We have successfully bid out restaurants, convenience stores, retail centers, master planned golf courses, multi-family apartment complexes and fractured condo projects; residential and commercial lots, land and subdivisions; commercial and industrial buildings and special-use properties such as vacant churches and schools.
- A sense of urgency created by a Sealed Bid Sale deadline draws out more buyers than any other selling method, increasing competition and maximizing results.
- Time and cost savings from start to finish, because properties are sold more quickly than through conventional sales methods which take many months to complete and close. In an accelerated sale, advertising periods range from four to six weeks, with the overall project, from start to bid date, typically taking 12 to 16 weeks.
- All bids are received simultaneously, allowing the seller to accurately gauge market depth and better assess true property value. Bids are made on pre-set purchase agreement forms, and bidders are required to remit earnest money by cashiers check or wire transfer with their bids.
- With all bids on the table at the same time, the seller is in an excellent position to evaluate what the market is willing to offer for the property, with no contingencies and a fast close.
- Bids are confidential and are not public knowledge, thereby strengthening the seller’s negotiating position with the bidders, protecting disparities between high and next high bids. Properties are often offered with minimum bid prices or the undisclosed seller’s right to accept or reject the high bid. In addition, certain properties fare best when offered on a Sold Absolute basis where the property is sold to the highest bidder. Once NRC has reviewed the properties, we will recommend the most appropriate pricing strategy, and the one most likely to attain the highest bid price.