Highest Bidder Sale for Highest Downpayment

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  • I’m about to do my first Highest [Down Payment] Bidder Sale for my newly renovated, free & clear $600,000 property. It is on 3 acres in a nice area in north Atlanta, GA. I’m planning on doing a contract for deed. Here are my questions:

    1] What do you recommend for the 4’ x 6’ Yard Sign:

    We’re Selling Our Home
    Owner Financing
    This Sunday Night
    Highest Down Payment Bidder Will Win*
    *Disclaimer: subject to seller’s approval.


    *Disclaimer: subject to seller’s approval.

    Large Sign Questions:

    1] Should I include the price & starting bid of $10,000 on the big sign?
    2] Should I include & make more dominant “owner financing”? It seems owner financing would draw more interest than anything else.
    3] Which of the sign words would be best for this priced house? Any better recommendations?
    4] I’m using a google voice number which will have all the details on the property since I don’t have time to do a web site. I do have a facebook page and a Zillow ad on this property with pictures and details. Would you recommend putting one or both on the large sign and the smaller signs? I’m assuming no, since I wouldn’t be able to use them again, correct?

    Other questions:

    5] Do you ever put the address on your signs pointing to the house especially since the house is located on a long main road?

    6] Should I include the price & starting bid on the other advertisements i.e. flyers, smaller signs, online, etc?

    7] To vet my buyers to gauge the timing and their ability to get a loan in the near future, I will have my mortgage broker pre-qualify them. At what point in the process do you recommend that they call him? We want it to be a short term loan 24-36 months, although I love the $30,000 interest payments each year!

    8] Any preferences between 12p-4p vs 10a-2p for the open house? We typically do 10-2 here in GA for the SLOW MLS open houses with little traffic in the am.

    9] Do you recommend that I put any figures on the bidding sheet or elsewhere showing what their payment would be @ 10%, 15%, etc. down? I know the approximate PIMI for each.

    10] Since this is an expensive property, should I require $5,000 increments in bidding since I’d like at least 10% which is $60,000?

    I’ll be combing through the coaching calls and community forum but I want to get my signs ordered ASAP. Any recommendations are greatly appreciated!

    Thank you!

    How are you making out Jim??? It’s a beautiful house and you seem to be on track. Let me know the date?? Patti

    Patti, We will have our first Open House Inspection on Feb 29th! All signs are ready, we’ll be starting our marketing this weekend. I’m working on the transcript for the greeting and the Facebook page! Thanks for all your help! I’ll keep you posted. No one seems to think that it will work for a $600,000 property but we’re going to prove them wrong:0 The Highest Down Payment Bidder for an owner-financed property does seem to be unique but we’ll see!

    The following link on Zillow includes all the details on the house, highest bidder sale for down on owner finance property, a bidding process doc link, google earth link, virtual 3D tour link, open house dates. All without a webpage. I’ve already gotten a text, 276 views, and 15 saves just today.


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