Has Anyone Done A 5 Day Sale?

I did one on one of my old rentals, and was lucky to find a buyer and get rid of it.

But has anyone experienced anything negative with doing a 5 day sale?



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Comments(4)

  • anolimitsky8th September, 2004

    Yes I have. Only negative I experience was Just the fact I had not had time to decide where to spend the money. smile

  • jeff120029th September, 2004

    sales occur within 5 days quite often when investors are involved. Are you referring to a particular "5 day method" like open house/silent bid/auction? Or something else?

  • virtual12th September, 2004

    5 DAY SALE (auction)
    -List house for way under market value in paper for 5 days (wens-sun) as auction to be sold on sunday.
    -the first 3 days, just take phone calls and tell people they can view the house on sat and sun
    -after they view the house on sat or sun they can place a bid.
    -at the end of the day sun call back the 5 higjest bidders and see if they want to out bid they highest price.

    I wanted $130-$140 for my house, and I put it in the paper for $85, I got $132 for it.

    I had it listed through the realestate for 3 months and had 8-10 people come through.

    With the 5 day sale, I had 60ish phone calls and 30-35 people come through the house and had 10-15 seperate bids on the house and sold it.

  • rajwarrior12th September, 2004

    I tried it once and it flopped big time. I got a grand total of one phone call on the property by friday. Still curious as to what went wrong.

    I priced the house $50K lower than FMV, so I don't think that it was the starting price. In my opinion, I think that it was because the FMV was not mentioned in the ad, so the readers didn't know that the price was actually low for the property.

    Roger

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