Prudential Woodmont Realty Auctions

Real Estate auctions are one of the fastest-growing trends in real estate and provide a powerful and proven selling approach. The auction option can be the perfect choice for settling an estate or divorce, dividing a real estate partnership, or simply selling your property.

As an auction seller, you choose the time and date of the auction sale, as well as the terms under which your property will be advertised and sold. When the auction occurs, your property is sold as-is. There are no contingencies that can delay or prevent closing as sometimes happens with a conventional listing and sale. Best of all, the process can be very quick. In some cases your property can be marketed, sold, and closed in four weeks or less.

Tommy Anderson, Auctioneer & Broker

Tommy is a third-generation real estate broker and auctioneer. As well as being mentored by his father, Nashville's well-known and highly-respected Clive Anderson, Tommy is a graduate of America's finest auction school, the Mendenhall School of Auctioneering. Couple this training with his 20+ years of auction sales experience, and you have the utmost assurance that you're working with an industry leader.

Email Tommy or contact him at 615.661.7800

There are 2 Types of Auctions

Absolute Auction
In an absolute auction (also known as auction without reserve), the property put up for sale is sold to the highest bidder. After the auctioneer calls for bids, the seller may not withdraw the property unless ZERO bids are made within a reasonable time. The seller may not bid on the property, either for himself or through an agent. At closing, the seller delivers marketable title to the property.

Auction or Auction Sale
In an auction or auction sale (also known as auction with reserve), the seller or his agent reserves the right to establish a minimum bid; to accept or reject any and all bids; and to withdraw the property at any time prior to completion of the sale by the auctioneer.

The Typical Auction Process

Step One / Initial Visit: The auctioneer will come to your property to meet you, explain the steps involved, choose an auction date, and gather information and pictures of your property.
Step Two / Marketing Campaign: The auction staff will create advertisements, brochures and signage which they will use to promote your auction. The typical auction marketing campaign lasts about two weeks and uses a variety of proven media channels to reach as many potential buyers as possible.
Step Three / Auction Day: Auction staff will set up onsite facilities for the auction sale and oversee the inspection period, during which time potential bidders can examine the property. After completion of the auction, we will complete the sale paperwork and collect the successful bidder¹s predetermined down payment, which is held in escrow until closing. We then ensure that all remaining steps occur throughout the remaining closing period (usually no more than 2 to 3 weeks).
Step Four / Closing: Marketable Title is transferred and sale proceeds are distributed accordingly.