Due to the condition of the property, the liens and the additional land, we ran an online auction process to allow end users and SFR investors to compete with developers. This process was used to maximize market competition to push pricing.
Multiple group showings of the duplex were conducted to fully disclose the condition of the units, as well as promote discussion between the potential buyers. Interaction between buyers generated excitement for the event, as well as pricing discussions which were relayed back to the seller.
All event participants were locally based in the Miami area, and the top bidder was a developer.