A. Smith Auction & Realty helps prospective buyers walk step by step through the Real Estate Auction process. When a buyer visits our website, that person will find detailed information concerning our listed properties. In addition, a buyer will also find a“Property Information Packet” (PIP).

The information packets may be downloaded for your convenience and will also be available onsite. Your packet will contain property information on the Real Estate, Terms & Conditions of a Real Estate Auction, a Real Estate seller's disclosure, Real Estate agency agreement, and buyer/seller contracts. The PIP’s are for your review prior to the Real Estate Auction.

As Accredited Real Estate Auctioneers and abiding by the National Auctioneer’s Code of Ethics, we will inform you as to the type of Real Estate Auction being held. Is it a Reserve, Absolute Real Estate, or Published Minimum Opening Bid Auction and what does each mean?

Reserve Auction: The seller has last right of acceptance or refusal if the bid is unreasonably low.

Absolute Auction: The Real Estate will sell regardless of price. An absolute Auction

brings in a greater number of bidders as they know the property will definitely sell..

Published Minimum Opening Bid Auction: The Real Estate has a minimum opening bid price and will sell to the high bidder.

A. Smith Auction & Realty specializes in Real Estate Auctions, therefore, the most current technology is used and continually updated to help potential buyers become more knowledgeable of each listed Real Estate property.

A. Smith Auction & Realty's Real Estate consultants are just a phone call away. We look forward to helping answer your questions concerning the entire Real Estate bidding process.

Upon your arrival at the Real Estate Auction Event, a courteous staff member will be onsite to direct you to an Auction Real Estate Specialist who will go over any last minute questions. You then may register for the Real Estate Auction. If you do not already have a PIP, you will be given one during the preview time for you review. Typically, you will need your driver’s license, a cashiers check or good check made out to Chicago Title Company for the amount specified with each property being sold, and a signed Real Estate Terms and Conditions. You will then be given your official “bidding number”.

Throughout the Real Estate Auction Event, our Real Estate consultants will be on hand to assist you throughout the bidding.

While the bidding is taking place, remember that our Real Estate Auctions contain a 10% Buyers Premium. A Buyer’s Premium is a fee that is added to the high bid for the gross selling price. Example: If the successful high bid is$ 100,000….. 10% or 10,000. will be added to the high bid price for the total, gross selling price of $ 110,000.

If you are the successful bidder, both buyer and seller will sign contingency free contracts. The successful buyer needs to know they can close in 30 days.

Prospective Real Estate buyers are always encouraged to bring any type of professional inspector they may wish to help evaluate a property prior to the bidding process

Buyers interested in a particular property also may wish to make an offer prior to the Real Estate Auction. The same registration process applies to offers/bids coming in prior to the Real Estate Auction Day Event.

Good Luck!