~Frequently Asked Questions~
What is Dan Peters Auction?
- We are a fully Licensed & Qualified Auction & Appraisal Company that will do what it takes to make your auction a success.
What types of Auctions do we conduct?
- We conduct a variety of Auctions including, but not limited to the following:
- Real Estate- Complete Estates- Liquidations
- Consignment - Antiques- Bankruptcy
- Farm Machinery - Livestock- Commercial
- Vehicles - Charity - Benefit
- Specialty items & just about everything under the sun!
Where is our office located and how can we be contacted?
Our Home Office is Located at 182 Glenview Rd. Smiths Falls, Ont. K7A 4S4
Our Office is located at 3768 Hwy 43 - Perth Hwy.
Our Office Phone Number is (613) 283-6464
Our Home Office Number is (613) 284-8281 (9 AM - 10 PM only Please)
Who are the Owners & Operators of "Dan Peters Auction"
- Dan Peters & Amanda Todd are the Owners & operators of Dan Peters Auction & Appraisal Company. They are always willing to lend a helping hand & look forward to meeting you.
FOR MORE INFORMATION ON DAN, AMANDA &OUR BUSINESSES READ ABOUT US PAGE
INFORMATION ABOUT OUR AUCTIONS
What will I need to do to attend and/or buy from Dan Peters Auction?
- Come out to our auction (There is no cost whatsoever to attend or sign in to an Auction). You will need to see the Cashier to get a bidding card with your own unique bidding number before you start bidding.
Will I need Identification?
- You generally do not need Identification to get a bidding card but if you choose to pay by way of cheque then you will need to provide Identification when you pay for your purchases.
Do I Pay immediately following a purchase?
-If you are not going to be purchasing any other items and are ready to leave then YES you would then proceed to our cashier and cash out. If you are at the auction to purchase more items then continue using your bidding card and pay for your purchases when you are ready to leave.
What methods of payment are accepted at our auctions?
- We Accept Debit, Visa, Mastercard, American Express and Cash is always Welcome
If an item I have purchased at the auction is broken, can I return it?
- You may return an item that has a defect within 4 other items selling by auction if the item you have was not originally stated to be damaged or chipped.
SELLING REAL ESTATE BY AUCTION
What are the costs to sell a property by auction?
- We charge 3% commission as well as advertising costs. (We will give you a price quote on advertising at your free consultation appointment)
Why sell Real Estate by Auction?
-Selling a property by auction is fast, exciting and brings a wide range of buyers to one place at one time to achieve the maximum response for the seller. A Real Estate auction from the start of advertising to the sale date is usually a 4-6 week process (can also be in less or more time depending on the property - auctioneer will tell you what amount of time will be needed). Properties that are sold by auction are sold as is with no conditions (we encourage buyers to have a home inspection done prior to the auction date at their own expense if they so wish) and with a 30 day close. When selling your property by auction you will know what date your property sells.We host an open house which takes away from many unwanted appointments (although private viewing can be arranged through the auctioneer.) Maximum response from potential buyers will be achieved as buyers know that sellers that use the auction method are motivated & serious. When a property is listed through traditional Real Estate methods and sells almost immediately the sellers are often left wondering if they truly achieved the maximum price for their property. When a property is listed for a long period it can be thought of as stale and the public may wonder if there is something wrong with the property. When selling by auction the sale date is clearly listed and the buyers know that time is of the essence and they must act if they wish to purchase the property.
Are properties that are auctioned estates or bankruptcy sales?
- Although these properties can be sold by auction that is not necessarily the case. Smart sellers know that a property that sells by auction produces results quickly & effectively so therefore they are saving the long term carrying costs.
What is a buyers Premium?
-A buyers premium is a percentage that is charged on the selling price of an item. For example if you were to purchase a property where a buyers premium applied and the sale price was $100,000. (One hundred thousand) and the buyers premium was 10% then you would actually pay the original $100,000 (One hundred thousand ) plus the extra
$10,000 (ten thousand dollars in buyers premium) plus you would also pay the gst on the buyers premium. So in the end the property that you purchased for $100,000 (One hundred thousand dollars) will actually end up costing you $110,500.00 (One hundred ten thousand and five hundred dollars) That's actually $10,500 (ten thousand five hundred dollars above the purchase price).
Does Dan Peters Auction charge a Buyers Premium?
-No. When you buy a property from a Dan Peters Auction you will pay exactly what you bid.
What is the advantage to the Seller with No Buyers Premium?
- We believe in a clear cut method when selling Real Estate by Auction. The potential buyers that attend our auctions know and appreciate that there are no extra costs to calculate above their bidding price and that gives them peace of mind. When selling a property with a buyers premium it can get confusing for the buyer to have to calculate the extra costs. The buyer may stop bidding as they may be unsure of the final price with the extra costs and that Is not what we want for the buyer and/or seller. At our auctions we want to achieve maximum results for the seller and clear sales format for the buyer.
Is there financing available?
- There may be financing available through traditional as well as non traditional methods. (Ask what financing options we have available to you)
We welcome you to call, email or pop in at our daily sales center if you have any further questions. We look forward to discussing how we can make your auction a success!!!
Dan & Amanda - Dan Peters Auction
