Road Trippin’

Road Trippin’

Cash Realty & Auctions definitely lives by the motto ‘Has gavel, will travel.”  Last week we went to Lafayette Indiana to conduct an auction, and we just came back from an auction in Claremont, New Hampshire. 

Our team loves to travel! It gives us the opportunity to get out of the office and to meet some of our interesting auction customers.  It’s a good thing we love it because traveling is a necessity of the auction trade – it’s a lot easier for us to travel to a 600 lot auction rather than transporting those 600 items back to Buffalo!

Auction license requirements vary from state to state.  Each state has different educational requirements, bonding, and fee structures in order to obtain and maintain the license.  Currently, we are licensed in 12 different states – as our company expands we will apply for even more!  Are you looking to have an auction? Give us a call! Chances are that if we are not licensed in your state, we can fulfill the requirements to become one in about a month or two!

We consider ourselves very fortunate to have as many traveling experiences and state auctioneer licenses that we do!  Cheers to another year of being auctioneer road warriors!

 




HUD Home Mysteries Solved!

The Mystery of HUD Homes

Did you know that Cash Realty & Auctions has had a contract with the government to sell HUD homes for almost 20 years?  HUD  homes are a result of a foreclosure action of a FHA-insured mortgage – basically this means that it’s your chance to get a great deal!

BUYING A HUD HOME:

  • Our real estate agent, Kevin Kelly, can sell homes in the following Counties: Erie, Niagara, Orleans, Genesee, Wyoming, Cattaraugus, Chautauqua and Allegany.  Although HUD’s are Kevin’s specialty, any licensed real estate agent can represent you.
  • Almost anyone can buy a HUD home – as long as you have the cash or you can qualify for a loan (HUD homes have special restrictions).   We don’t offer financing, but talk to your local bank – they should be able to help you!
  • Sometimes HUD homes are listed as owner-occupant only (meaning that in order to bid on the home, you have to live there as your primary residence).  Owner occupancy is encouraged, but if no bids are accepted during that time period, the availability does open up to investors too!
  • A great resource is the HUD HOME STORE (http://www.hudhomestore.com/Home/Index.aspx).  On this website you can search for homes all over the United States!  You can also learn about special HUD programs like the good neighbor next door program (certain houses are 50% off – an opportunity only for police officers, firefighters, EMTS and teachers) and other bidding tips and advice.
  • If you have any other questions just call Kevin Kelly’s cell phone at 716-912-4483 – he’s been selling HUD homes for almost half of his life – he’s a busy guy but he’s always happy to help!



5 Tips for Attending Your First Auction

FIVE TIPS FOR ATTENDING YOUR FIRST AUCTION

We know, the auction world can appear to be scary – let us hold your hand and give you a few tips before you come to one of ours!

Tip 1: Come Early! One of the best pieces of advice I can give to a customer is to show up early!  We usually have a preview time 90 minutes prior to each auction.  This is the time that you can do your research on the items you plan on bidding on– you can touch, feel, inspect, measure etc.    Use this time to get familiar with not only the item, but the layout of the building and also our auction staff….as long as we’re not too busy we’re a really friendly group of guys and gals!

Tip 2: Remember, we’re not WalMart!  Each auction house has a different set of payment rules, at Cash Realty & Auctions, we expect payment within 30 minutes of the last bid being struck down (the last item in the auction).  We are not a big box store with 24 hour service – if you bid on something, please be prepared to pay in a timely manner.  Also, there are no returns, you are responsible to pay for what you bid on.

Tip 3: As Is, Where Is. Everything is sold exactly how you see it.  We don’t spend a lot of time with our auction items (cars are often repossessed and towed in, while personal property might have only been touched once during the lotting process).  Buyers beware, but also remember you can always bring a friend!  All of our auctions are open to the public so if you have a friend that is a mechanic, or knows more than you about a certain auction item, bring them into the auction with you and have them take a look before you bid – better safe than sorry!

Tip 4: Get as close to the auctioneer as possible! Remember being in high school and trying to sit in the VERY back of the classroom? Role reversal!  Try to get as close to the auctioneer  as possible during the bidding process.   Eye contact and visibility is important  – it will ensure that the auctioneer doesn’t miss your bid or signal.   In auctions, you can’t go back in time –  a missed bid costs the auction company money, but more importantly, it might cost you the specific item that you came for!

Tip 5: The internet is your friend!  Our website, www.cashauction.com is updated almost hourly!  As soon as we get a vehicle in, we put up a picture….as soon as the catalog is done, it’s posted! We have staff Monday thru Friday from 8:30am – 5:00pm constantly doing updates!  In addition to our website, sign up for our e-mail blast! We notify our e-mail list subscribers about auctions 10 days in advance so they never miss an auction in your interest area!   We are jumping on the Facebook/Twitter/Instagram marketing train too – follow us for auction updates

 




Common Auction Questions

Common Questions

Do you have to have a dealers license to attend our auctions? No, our auctions are open to the public, we encourage EVERYONE who is interested to attend!  It is free to register so you have nothing to lose!

What should I bring to the auction? To register for a personal property auction, you will need to show us your driver’s license (this proves you are over the age of 18 and also, we scan the back of it to enter you into our computer system quicker).

If you are bidding on a real estate auction, you should bring the deposit required (Usually $5,000 or $10,000 – check our website at www.cashauction.com for each individual property requirement).  For real estate, you are required to bring the balance of deposit up to 10% within 5 business days.  Ex:  You bought a property for $150,000 and the deposit that day was $10,000.  You will need to bring an additional certified check in the amount of $5,000 to our office within 5 business days.  The remainder of the money is due at closing.

What payment forms do you accept: For personal property auctions, we accept cash or checks from local banks (if it’s not from a local bank please bring a bank letter of guarantee).  We are also able to accept credit cards but please note we use Square to swipe the card and pass along their fee.

For Real Estate auctions, we accept cash or a certified check.  To make things easier, we recommend you making the certified check out to yourself (if you win the bid, you can sign it over to the auctioneer, and if you happen not to be lucky that day, you can go and re-deposit it into your bank).

Is there an opening bid? No, all of our auctions are kicked off by the public – let the auctioneer know where you would like to start!

What is the buyer’s premium? It is a 10% fee that is added to your high bid amount, this is how we get paid.

Do I have to pay back taxes on real estate? No, Everything that we sell is free and clear at closing – you are not responsible for back taxes, the seller is!

If you have any other questions please give us a call, 716-885-2200 or 1-800-424-2274.  We are open Monday thru Friday from 8:30am – 5:00pm (closed on bank holidays).

Hope to see you at an auction soon!!!!




Follow Cash Auctions!

Want to know about new happenings in the Cash Auction office? Follow us!

Facebook: Cash Realty & Auctions

Twitter: CashAuction

We also love to hear from our bidders, so feel free to reach out – and don’t forget to use #cashauctions!




Our NEW website!

We have officially crossed into the wordpress world! Hooray! Please check out OUR page and let us know what you think.

Happy Bidding!!




Hello world!

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!




Upcoming Auctions