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Auction Process

Why Sell Your Real Estate at Auction?

If you want to sell your property in a timely manner, easily and with no contingencies at the highest possible price, then the auction method of marketing is a smart decision… not a last resort.

In today’s fast-paced environment auctions offer many advantages to the seller. Auctions quickly and effectively establish true market value for the property. For more than 55 years, Sanford Alderfer Real Estate has assisted sellers every step of the way to make sure they get the best results with their desired terms and conditions.

Auction Advantages

Immediate Results:

By using the auction method of marketing, our client is able to sell and close on their assets in approximately 45 days, rather than relying upon the ambiguity of the traditional real estate market. An auction allows the seller to establish the timetable. Knowing a specific, definite closing date allows the seller to take advantage of opportunities for reinvestment and relocation immediately.

Eliminate Holding Costs:

An auction reduces the holding costs of the property, including interest, taxes and maintenance. Due to the shortened marketing period, usually 45 days of the auction, these costs terminate quickly. Traditional sales methods leave the seller responsible for these costs for an indefinite period.

Control Terms:

The terms and conditions of the sale are established and controlled by the seller. Each sale is tailored to suit the individual seller’s needs and is carefully evaluated to determine the most appropriate and cost effective method of offering the property to obtain the most money for the seller. Sanford Alderfer Real Estate explores additional alternatives and creative ways to market your real estate. We explore subdivision possibilities, muti-par combinations and top bidder take choice and owner financing.

Creates Urgency:

The auction method forces buyers into action. Traditional sales methods do not create the urgency necessary to close the sale quickly. Auction demands decisiveness and takes advantage of the synergy created when a group of buyers are bidding competitively against one another – each bid reaffirms the value of the property.

Targeted Marketing:

As opposed to traditional marketing, in which the buyer receives offers sporadically over an extended period of time, an auction establishes a specific date by which all offers are received. With this target date in mind, an aggressive advertising campaign is designed. This campaign is created to emphasize the amenities of your property and is media-specific with advertising placement in the most effective media. The goal of our advertising campaign is to ensure that all potential buyers are targeted and aware of the sale.

Brochures:

A proven advertising method to both catch the eye visually while conveying the most important details, dates, location and times of an event.

Social Media:

In this day of technology social media has become a method where we can create an even more specific target market and can reach out to those people in a timely manner. Our website along with our affiliate websites and industry links allow us to expose your property to literally people around the world. Our corporate website allows us to watch and communicate with all that download your specific Property Information Packet. 

Our Listings

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Sanford Alderfer Real Estate also known as Tranzon Alderfer is part of Tranzon, LLC a nationwide organization that realizes market value for real estate and business assets at auction in a defined time period, putting the seller in control of the process. For the typical real estate auction, the marketing process can be as brief as six weeks from signing the agreement until the auction.

Auctions are quick and have a set sale date, allowing sellers to effectively plan for their property sale, rather than engaging in an open-ended process through a conventional listing that could stretch on indefinitely.

Taking an innovative, customized approach, Tranzon Alderfer creates a marketing program to expose your property to as many qualified buyers as possible in a pre-determined period of time.

Auctions are characterized by competitive bidding as opposed to negotiated bidding. Bidders compete for your property, thereby maximizing the chance that the highest potential value for your property is realized.

In a seller’s market, there is no better way to determine how much a buyer is willing to pay for a property than to place them in a competitive bidding environment. In a buyer’s market, there is no better way to ensure that a property achieves its maximum potential market value than to place the property in a competitive bidding environment.

In an auction process, the seller sets the terms, not the purchaser. The agreement of sales are “as-is, where-is” contracts.  

Sanford Alderfer Real Estate, our conventional real estate brokerage, offers you solutions for buying and selling residential, commercial and investment properties. With more than 50 years of experience in sales and marketing, we are uniquely qualified to deliver optimum results. Through our professionalism and commitment to service, we are dedicated to assist our clients through their maze of property in transition.

Alderfer Auction, a widely respected leader in the auction industry since 1959, has built a reputation for ethically and creatively helping people navigate the maze of personal property in transition. Whether building or selling a collection of personal property or when downsizing a home or business, Alderfer Auction will find solutions that work for you. Combining the skill of experts in antiques, fine art and collectibles with over a half century of experience in promoting our auctions and client’s merchandise, Alderfer Auction not only knows the marketplace and the current value of the items they sell, they know how to reach buyers regionally and internationally to create awareness and, ultimately, successful sales.

Refer to this handy list to get you through the selling process.

1. Calculate your selling expenses.

  • List the repairs and projects you’ll have to do to get your home in selling condition and estimate the costs of hiring supplies and contractors.
  • To get top dollar, consider remodeling projects and green upgrades that increase your home value.
  • Expect to pay about 7-10% of the home’s sale price in closing costs, including real estate agent commissions, transfer taxes and prorated property taxes.
  • Factor in these costs:
    • Professional home inspection
    • Capital gains tax
    • Mortgage payoff penalties
    • Staging and marketing expenses
    • Moving expenses
    • Costs related to getting a mortgage for new home

2. Plan your selling strategy.

  • Determine how fast you need to sell your house and how much money you want to get from the sale.
  • Contact your Sandord Alderfer Real Estate agent to list your home on the multiple listing service (MLS).
  • Consider an auction for a quick sale in a slow market.
  • Determine your home’s strengths and unique features and promote them in all advertising.

3. Prepare and state the home.

  • Have a yard sale. Sell, donate or trash everything you don’t need.
  • Make necessary repairs.
  • Make improvements to increase your curb appeal, i.e. the home’s external attractiveness when viewed from the street.
  • Hire a professional home stager or research staging tips.
  • Declutter, depersonalize and decorate every room and outdoor areas so buyers can imagine themselves living in the home.
  • Paint interior rooms neutral colors.
  • Replace outdated lighting fixtures and window treatments.
  • Keep the home in show-ready condition at all times.

4. Review purchase offers.

  • For each offer, review the proposed offer price, pre-approval letter, contingencies, earnest money amount, proposed closing date and offer expiry date.
  • Make counteroffers and negotiate.
  • Approach each offer as an opportunity to negotiate.
  • If you won’t budge on price, offer financial incentives that don’t require cash out of your pocket, such as paying for part or all of the buyer’s closing costs, repairs found during the property inspections or points.
  • Offer to include furniture, appliances, window treatments or lighting fixtures.

5. Preparing for closing.

  • Create a formal plan for handling home repairs, including when they should be made and who pays for them.
  • Clean and prepare the home for the appraisal and home inspections.
  • Choose a title company who will order a title search, request payoff information for your mortgage and other liens on the home, prepare and record documents, hold and disburse funds and prepare closing statements.
  • Prepare for the final walk-through inspection.

6. Closing.

  • Sign the closing documents and move out of your home.
  • Keep copies of your documents for reporting the sale on federal and state tax forms.

Refer to this handy list to get you through the home buying process

1. Figure out how much house you can afford.

  • Calculate your monthly income and debt.
  • Check your credit report and FICO score.
  • Use a mortgage calculator to estimate your monthly payments.
  • Figure out your down payment.

2. Get pre-approved for a mortgage.

  • Choose a type of mortgage.
  • Search for lenders and mortgage brokers.
  • Shop for the best interest rates and programs.

3. Determine what you want and need in a home.

  • Location (downtown, urban, suburban, rural).
  • Type (single family, townhouse, condo, loft).
  • Determine your price range.

4. Research your target neighborhoods.

  • Search information on schools, taxes, etc.
  • Determine your work commute.
  • Scout local amenities, such as parks, shops and restaurants.

5. Work with your Sanford Alderfer Real Estate agent to search for available homes.

  • Browse listings online.
  • Ask your agent to set up tours of homes that fit your criteria.
  • Check local newspapers.

6. Research each home you want to buy.

  • Ask your agent for comps to estimate the property’s fair market value.
  • Ask the seller’s reason for selling.
  • Review all property disclosures.
  • Find out about liens, easements or other restrictions.

7. Make an offer and negotiate.

  • Determine the purchase price.
  • Include contingencies, such as financial or inspection.
  • Spell out any special requests and repairs you want included in the sale.
  • Determine an earnest money amount.Define a move-in date.
  • Once both parties agree to the terms, sign the Agreement of Sale.

8. Finalize the deal.

  • Get the house appraised.
  • Get a professional home inspection.
  • Consider getting specific inspections for structural engineering, roof and termites.
  • Use the appraisal and inspection reports to re-negotiate if necessary.
  • Choose a home company.
  • Complete the loan process with the lender.
  • Set aside cash for the closing costs and down payment.

9. Close the purchase.

  • Review the settlement document at least 2 days before closing to see how funds will be collected and distributed.
  • Do a walk-through inspection prior to closing.
  • Get a cashier’s check for the amount you need to bring to closing, including the down payment and closing costs.

We invite you to visit the Auction Center to experience the excitement of a live auction! Conveniently located just minutes from the Pennsylvania Turnpike in Hatfield, Pennsylvania, our spacious and secure 8,500 s.f. facility draws bidders from throughout the region each week. From the moment you arrive you will be warmly greeted by our friendly staff as you register to bid at the auction. On your way to the gallery, enjoy breakfast, lunch or a delicious dessert in “The Bidder’s Choice Café.” As you discover the many items on display that have been collected and taken care of over the years, you will see our facility has plenty of room to hold multiple auctions simultaneously. From fine art, antiques and firearms, to coins, stamps, jewelry, dolls and other collections, you never know what you will find at the Alderfer Auction Center!

Mission and Vision

Mission

Our mission is to ethically and creatively guide people through the maze of property in transition.

Vision Statement

Our vision is to be the preeminent provider of sales and auction marketing services of real estate and commercial asset management to our clients who are in transition.

Values

To acknowledge God in all our ways and reverently look to Him for guidance.
To always treat each other and customers with the respect and service with which we each want to be treated.
To be a group of people who commit a portion of our time, money and talents to the community and charitable causes.
To employ qualified people, offer fair compensation, and provide an environment conducive for personal growth.
To provide a pleasant, safe and secure place to do business for both our customers and employees.
To offer superior expertise and professional service to our customers so that we may be known to be both fair and honest in all our dealings.

The Sanford Alderfer Companies began in 1959 when Sanford A. Alderfer attended the Reisch American School of Auctioneering. Sanford realized his dream of becoming an auctioneer when he conducted his first real estate auction on February 8, 1960. Sanford established Sanford A. Alderfer Inc. predicated on the idea that well run, ethical auctions would improve the quality of life in his community. Joined by his brother, Harold Alderfer, in 1962, the pair quickly earned a reputation for honesty and integrity as Sanford Alderfer Real Estate became sought after by families wanting to sell homes, farms and by businesses seeking to relocate or liquidate assets.

In 1972, Sanford’s son, Sanford (Sandy) L. Alderfer, and son-in-law, Vernon Martin, joined the family business. Sandy and Vernon were instrumental in establishing the Alderfer Auction Center in 1988, an innovative, modern auction facility located in Hatfield, Pennsylvania, where they continued to grow the company. Over a half century later, the Sanford Alderfer Real Estate is still owned by the Alderfer family and business continues to be conducted by the Golden Rule.

 

Employment

For employment opportunities, please email your resume to the Operations Coordinator at saralyn@alderferrealestate.com and we will contact you regarding any immediate openings.

Employment Opportunities:

Sanford Alderfer Real Etate is looking to expand its sales staff. If you have a passion to be in a service oriented business and want to provide solutions to clients with real estate needs, please email your resume.

Buy or Sell

Sanford Alderfer Real Estate has been helping people buy and sell residential, commercial and investment real estate since 1959. Our experience and proven record of creatively and successfully selling all types of real estate make us uniquely qualified to deliver optimum results. Our team of agents strive to provide the best possible service with value, honesty and caring. The company goal is to serve their customers and clients by meeting their needs and goals with personal attention. Contact us today!

Commercial Asset Management

Sanford Alderfer Real Estate, Realtors and Auctioneers provide auction solutions for complete business asset liquidations for small and large businesses. Whether it’s one piece of equipment or a turnkey operation along with the sale of the real estate our services and expertise of auction marketing can provide:

  • Strategic, Customized Marketing Programs
  • Fast Turnaround Time
  • Low Impact to Current Operations
  • High Results for our Sellers
  • Uninterrupted Business Operations
  • Online Only, Live and Webcast Auctions
  • Appraisals of Business Assets and Equipment (Appraisers with Master Personal Property Appraiser/MPPA designations and Uniform Standards of Professional Appraisal Practice/USPAP compliant)

Assets including Inventory Reductions, Fleet Reductions, Liquidations, Overstocks, Vehicles, Trailers, Maintenance Equipment, Restaurant Equipment, Farm Equipment, Tools, Golf Course Turf Equipment, Manufacturing Equipment, Recreational Vehicles.

Call our office at 215-723-1171 or email saralyn@alderferrealestate.com to schedule a free confidential consultation.

Frequently Asked Questions

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Services

Sanford Alderfer Inc. Realtors & Auctions, a second generation family business, dedicated to ethically and creatively helping people buy and sell real estate through the auction method of marketing or conventionally.

In addition to selling real estate, Sanford Alderfer Inc. provides auction solutions for complete business asset liquidations and for small and large commercial/business liquidations.

We specialize in finding solutions that simplify your life.

Terminology

AGENCY
The legal relationship between a Seller and a Broker/Agent wherein the Broker/Agent has been engaged to sell a property OR the relationship between a Buyer and a Broker/Agent where the Broker/Agent has been engaged by the Buyer to act in their sole interest in purchasing a property.

AMORTIZATION
The portion of the mortgage payment which directly reduces the balance of the loan.

APPRAISAL
The estimation of a home’s market value by a licensed appraiser based on comparable recent sales of homes in the neighborhood. A loan underwriter compares this appraisal price to the agreed-upon purchase price to ensure that the value of the home is equal to or greater than the purchase price. Loan financing may fail if the home appraises at a price less than what the buyer and seller agreed upon. If this happens, the buyer may want to re-negotiate with the sellers to determine a lower purchase price.

ASSESSED VALUE
A county tax assessor’s value placed on the property, which is one of the factors in arriving at your annual real estate tax bill (the other factor is the millage rate).

CLOSING COSTS
Various expenses paid by the Buyer and/or Seller which directly pertain to the purchase or sale of real estate (i.e. commissions, title insurance, appraisals, inspections, etc.).

CONVENTIONAL MORTGAGE
A mortgage that has a fixed interest rate over the life of the loan.

EARNEST MONEY
A deposit made by the Buyer on a particular property and held by an Escrow Agent.

FHA MORTGAGE
A mortgage insured by the Federal Housing Administration.

LIEN
A legal claim against the property.

LISTING CONTRACT
A legal agreement between a Seller and Broker authorizing the Broker to market the property at a predetermined price for a specific period of time.

MARKET VALUE
The highest price that a ready, willing and able Buyer will pay for a property and the lowest price that a Seller will accept – with neither party being under duress to buy or to sell.

MORTGAGE PAYMENT
A periodic payment made by the borrower to the lender that normally includes interest for the period and a predetermined amount of amortization of the loan.

PITI
The basic components of a mortgage payment (principle, interest, taxes and insurance).

POINTS
A percentage of the loan amount paid by the Buyer to the lender.

PRIVATE MORTGAGE INSURANCE (PMI)
For conventional loans with less than 20% down – this charge purchases insurance from a private company that will protect the lender in the event of default.

REAL ESTATE SETTLEMENT ACT (RESPA)
A Federal law that requires lenders to provide borrowers with a written estimate of closing costs.

TITLE INSURANCE
Protection for lenders and Buyers against financial loss resulting from legal defects in the title of the property.

TITLE SEARCH
Research of the title records to ascertain any defects, encumbrances and ownership history of the property.

VA MORTGAGE
A mortgage for eligible veterans that is guaranteed by the Veterans Administration.

Selection Process

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Learn

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Meet Our Team

About Us

Sanford Alderfer Inc., Realtors and Auctioneers, offers you solutions for buying and selling residential, commercial and investment properties. In addition to selling real estate, we provide auction solutions for complete business asset liquidations for small and large businesses. With more than 50 years of experience in sales and marketing, we are uniquely qualified to deliver optimum results. Through our professionalism and commitment to service, we are dedicated to assist our clients through their maze of property in transition.

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Alderfer Real Estate & Auctioneers

2780 Shelly Road
Harleysville, PA 19438  

Phone: (215) 723-1171  
Fax: (215) 799-0766  

 


Get in touch

Do you have property you'd like to sell? A question about one of our auctions? We'd be happy to hear from you. Just fill out the form, and we'll get back with you as soon as we can. 

If you'd rather not use a form, you can email us directly here: saralyn@alderferrealestate.com