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Fort Smith, Arkansas - Auction Houses search results Premier Listings

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Popular House Auction Terms

In 2010, 2.87 million homes were repossessed and auctioned due to defaults on mortgage payments. Fortunately, this trend has made it more affordable for new homeowners to acquire property through auctions. Similiar to real estate auctions are estate sales, in which a deceased person's possessions are sold in one auction or piecemeal. Here is some of the common terminology used in the practice of auctioning real estate and estate sales.

  • Absentee Bid – If you’re dying for a rare antique you found on an online auction but can’t make the showing, consider placing an absentee bid. This bid can be submitted orally or in writing in lieu of your presence
  • Accredited Auctioneer, Real Estate – The Auction Marketing Institute designates this professional certification to auctioneers who possess the proper education credentials and a track record of good practices and ethics.
  • Appraisal – When a home is appraised, its property value is assessed by a third-party company. This information is essential to placing a bid.
  • Bank Letter of Credit – When a bidder is not paying with currency, a certified letter from the bank may be obtained to verify the person’s eligibility for credit.
  • Bid History – A historical account of all the bids made at an auction. By looking at the bid history, you can find out whether it’s worth it for you to place a bid yourself.
  • Estate Sale – An estate sale will involve an auction selling all of a deceased person’s property, including the person’s land, house, fine art, jewelry and other items of value.
  • Tax Sale – A tax sale differs from a foreclosure. A house is foreclosed as a consequence of mortgage default. A tax sale is conducted by the government when property taxes are not paid.
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    National Auctioneers Association
    Overland Park, KS 66214
    The National Auctioneers Association represents the interests of the premiere auction houses and auctioneers across the country. Providing networking and business resources for your auction house.
     
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    Auctions by Don Guthery
    Springdale, AR 72762
    23 years experience in NW Arkansas with a 6000 sq ft auction facility. Specializing in antiques, estates, equipment and business liquidations.
    (479) 750-9990
    Wells Commercial Auctions
    27428 E 71st St S, Broken Arrow, OK 74014
    Since 1973, our professional auction house has specialized in full service business and property liquidations, and also offer fair appraisals of businesses and equipment. Call us to request a quote.
    (918) 357-1003
    Arkansas Realty Auction
    4319 S 35th Dr, Fort Smith, AR 72903
    (479) 646-8348
    D Ea Auto Auctions
    4923 Old Greenwood St, Fort Smith, AR 72903
    (479) 883-6778
    Dunn's Auction & Appraisal Service
    8008 Adam Dr, Fort Smith, AR 72903
    (479) 782-4497
    Red Star Machinery Sales & Auction Co Inc
    9611 Bear Hollow Rd, Fort Smith, AR 72916
    (479) 996-0118
    Cg Turner Realty & Auctioneers LLC
    1416 Fayetteville Rd, Van Buren, AR 72956
    (479) 474-3238
    Faucher Auction & Realty
    5300 Mcclure Rd, Van Buren, AR 72956
    (479) 474-7535
    United Country USA Realty
    5917 Alma Hwy, Van Buren, AR 72956
    (479) 474-9100
    The Auction Block
    4806 Alma Hwy, Van Buren, AR 72956
    (479) 262-2335
    Barker's Fine Antiques
    620 Main St, Van Buren, AR 72956
    (479) 410-4341
    Faucher Auction & Realty
    7521 Alma Hwy, Alma, AR 72921
    (479) 632-0980
    C.G. Turner Realty and Auctioneers LLC
    816 Highway 71 N, Alma, AR 72921
    (479) 632-2906
    Mooneyham Auctions
    525 E Denver St, Greenwood, AR 72936
    (479) 996-2926
    Looper Jimmy L Auctioneer
    4430 Nickletown Rd, Huntington, AR 72940
    (479) 996-4401


    Auction houses provide venues for people to offer various items of property for sale in a specific way. People can bid on property presented in auctions at more informal locations, or even online through websites such as eBay. Auction houses, on the other hand, can provide a greater assurance of professional standards. For one, auctioneers may appraise the value of works of art prior to people arriving to bid on these. Auction houses thus aim at facilitating the sales process. These establishments can be operated either by government or private, profit-driven entities. The former option can come into play when property owners have violated laws or regulations. The government might thus put up the cars which previously belonged to criminal offenders for sale. Without reducing the prices for which property is fully worth, furniture auctions and other transactions of this kind could provide benefits to less wealthy individuals. The more common and widespread venue of private auction houses can allow for visitors to bid for rare items of property. They could show, for instance, rare art, jewelry, or coins. Real estate, such as buildings or parcels of land, might also be presented to potential purchasers in this manner. When homes are foreclosed upon, auctioneers could place such items of property on the market. The inventory of varied items presented at auction could also assist people in adding historic or antique pieces to their collections. Auction houses generally represent likely locations for finding antiques and the like. While auctioneers can act dishonestly by rigging bids, all who do so will typically suffer legal ramifications, like fines, and a diminished professional reputation. In any case, auction houses should do all they can to preserve the compact of trust between themselves and their customers.
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