Welcome to Lighthouse Auction Services
Lighthouse Auction Services specializes in residential real estate
marketing and disposition strategies.
A driving force behind us is our affiliation with our state and national associations. We aggressively market our properties through these associations and also throughout the auction community, locally, nationally and internationally.
Our team is made up of four (4) of the areas top selling real estate agents. In our best year, we sold over 400 homes the conventional way. Auctioning, the new “method of marketing”, is sweeping the country and with our experience in real estate, it’s a perfect fit!
As auctioneers we create a level of excitement for the buyers, which creates new opportunities for the sellers. Our first class service, stellar reviews and referrals mean optimum results for our buyers and sellers.
We know how to evaluate a property to determine if the property is suitable for the auction block. Our professional standards and level of service to both buyers and sellers is clearly displayed at our auctions, thus people want to come to our auctions.
Meet Our Team:
Heidi Hines Broker, Realtor, CDPE, CLHMS, CRS, GRI, Auctioneer #8771
Heidi is an innovative, energetic overachiever who utilizes her creativity with every customer as she finds ways to make each home sale a success story.
- Real Estate Leader for over 10 years
- TeamHeidi® Charlotte's #1 Selling RE/MAX Team since 2002
- TeamHeidi® ranks 76th among US RE/MAX teams and the only Carolina team to make the top 100!
- Recipient of the RE/MAX Diamond Club Award, the highest level of production in the RE/MAX Network
- Licensed in both North and South Carolina
- North Carolina Auctioneer # 8771
- Fun, Honest, Hardworking and Reliable
Tim Brown Broker, Realtor, ABR, CDPE, CRS, NC (#8560) & TN(#19203) Auctioneer
Tim is dedicated to servicing clients with a personalized & well-organized plan to make transactions effortless.
- Seasoned agent for over 9 years
- Specializing in Charlotte Metro Resale and New Home Markets
- Knowledgeable of the REO (foreclosure) and Short Sale process
- Averages over 75 transactions per year
- Affiliated with Lighthouse Auction Services
- NC and TN Licensed Auctioneer
- Graduate of Star Power University - Buyer’s Specialization, Listing Specialization
- Full Time Assistant – Heather Church
- Licensed in both North and South Carolina
John Green Realtor, ABR, Broker, NC Auctioneer #
John's ability to focus on his clients' needs and listen to what they want. He will thoroughly explain each step of the process to his clients so they feel comfortable from beginning to end.
- Accredited Buyers Representative
- 6 years of real estate experience
- Licensed in NC & SC
- Auctioneer
- Charlotte resident for over 18 years
Auction FAQs
Q. How do I buy at a real estate auction?
A. Before purchasing at the auction, there are two things you should do:
- View and inspect the property.
- Have your financing lined up.
With most auctions, there will be several preview/inspection dates before the auction. These times are setup to allow you to see the property and make any type of inspections you’d like. Properties are almost always sold as-is and with no warranties. Viewing and inspecting the property before you bid is a great way of ensuring you are totally comfortable with your bid.
If you are not purchasing with cash, you will need to have a lender of your choice pre-approve you for a loan. Most real estate auctions do not allow for any loan contingencies. This means that if your bid is accepted at the auction and you cannot get a loan for the property, your deposit may not be refunded.
Q. Do I have to do anything to place a bid?
A. Before the real estate auction or on the day of the auction, you must register in order to bid. To register, a certified check for the amount required for the particular auction will be required. The check should be made out to the closing attorney for this auction.
At the registration, the auction staff will need to make a copy of your driver’s license or state/federal issued picture id. You will be given a bidder card with a unique number that identifies you.
Q. What actually happens at a real estate auction?
A. Most of our auctions are conducted through the open bidding forum method. The auctioneer will ask for bids. Registered bidders will simply hold up their bidder card and will be acknowledged by the auctioneer or the auction staff. Auction staff will be roaming the auction grounds during the auction. If you’d like to place a bid or have any type of question, they would be more than happy to assist you.
Our auctions are recorded. This is to provide an accurate record of the auction. Please don’t be alarmed when you see the camera.
Q. Do I have to put down any additional money before closing?
A. This will depend on the terms of the particular auction. If you are required to do this, it will be disclosed to you before the auction.
Q. I’m the highest bidder, now what happens?
A. You will complete and sign the real estate purchase contract with the auction staff. If you registered at the day of the auction, your certified check will be given to the closing attorney the first business day after the auction. The attorney will setup a closing date that is acceptable for you and the seller. The auction staff will help you with every detail.
Q. How soon do I have to close?
A. Usually within 30 to 45 days after the auction.
Q. What is a Buyer’s Premium?
A. It is the buyer’s share of the expenses to conduct the auction and is an amount added to the highest bidder’s bid to determine the contract price of the property. If a buyer’s premium is used at a particular auction, it will be listed in the terms of the auction.
Q. If I don’t understand the auction paperwork, who do I talk to?
A. Buyers must be educated and informed regarding the auction process. Make sure all your questions and concerns are answered before you bid. Please ask and we’ll discuss the entire auction process and answer any questions. Our contract is available for your review. Just give us a call, or feel free to have your attorney review the contract prior to the sale.
Q. If I change my mind after the auction and decide not to buy the property, what happens to my deposit?
A. If for some reason you do not close, your deposit may not be refunded. That’s why it is important to do any inspections and have financing in place before the auction.
Q. Why sell a property at an auction?
A. Sellers are making a decision to get their property sold in 1 day. The seller is eliminating the costs of continuing to own the property and they are also eliminating the haggling over price and inspections.
By offering a property at auction, sellers are announcing that they are motivated to sell. They are not simply putting a sign in the yard to see what happens.
Q. What does “absolute” and “reserve” mean?
A. “Absolute” means that the property will be sold at the auction to the highest bidder. “Reserve” means that the highest bid is subject to the approval of a minimum bid to complete the sale.
Q. What if I’m working with a Realtor®? Can they help me at the auction?
A. Yes. We are glad that you have chosen to have a Realtor® help you with your real estate needs. Please have your agent register that they are representing you before the auction.
Q. Can I have inspections on the property?
A. All buyers are strongly encouraged to have any inspections they desire on any property they might purchase. All of our properties are offered as-is at auction. The seller and the auction company do not make any warranties about the fitness or condition of the property or the property’s suitability of a particular usage.
Q. When can I see or inspect the property?
A. All of our auctions will have preview/inspection dates published before the auction date. If none of these times are convenient, please contact our office for an appointment. Properties are usually open for viewing and inspection at least one hour before the start of each auction.
Q. What happens if for some reason the seller cannot settle on the property?
A. Our terms for each auction state that the seller must be able to deliver free and clear title to you as the buyer. This means that the seller must be able to sell to you without any issues on ownership, judgments or liens. If this rare problem happens, the seller should refund 100% of your deposit.
Q. Who pays for the closing costs?
A. As listed in our real estate purchase contracts, the buyer is responsible for closing costs. If you are obtaining financing, your lender should supply you with a Good Faith Estimate (GFE). The GFE will list out all of the estimated costs for your loan and for closing. If you are paying cash, the closing attorney will be glad to review these costs with you.
Q. Can a property sell before auction?
A. Yes. A seller may choose to accept an offer before the auction. Of course, the auction would be cancelled.
Q. What if the property does not sell on the auction date?
A. Sometimes, a buyer that really may want to purchase the property may be overwhelmed on the day of the auction and not make a bid. Often this buyer will purchase the property the day after the auction.
The seller may decide to market the home for sale through other methods or chose to sell the home at a latter date.
Q. How can I be sure that I am paying a fair price for the property?
A. The value of anything is what someone is willing to pay for it. A seller has the right to ask any amount for a property, but is it really worth it? The auction method of marketing and selling a property is a great way to uncover a property’s value. The auction provides an excellent source of competitive bidding amongst interested buyers.
Q. What expenses am I responsible for if I want Lighthouse Auction Services to sell my house or land?
A. As the seller, you will be responsible for a marketing fee and a commission to Lighthouse. You will also be responsible for attorney fees for preparing the deed and closing out any existing liens on the property. Since all properties are different, please contact our company to prepare a customized proposal for the auction of your property.
Sellers
Why Auction?
Auctioning is the new method of marketing that is sweeping the country versus selling homes the conventional way, which most people are accustomed to. Sellers are choosing to auction their homes because they will not have to deal with buyers coming through the house at all hours to look while they sit in a parking lot or drag their family to one more movie.
Contract negotiations are a thing of the past. The price is determined at the auction by the buyers; the terms are disclosed prior to the auction. Once the auctioneer says “SOLD”, the house is sold!
The Advantages of Selling at Auction
- Sell your home for the highest price: A house is worth what a buyer is willing to pay for it. Buyers bid against each other and it can become very competitive, resulting in the best price for the house.
- You know the day and time the home will be sold
- There will not be any going back and forth with negotiations. The terms are disclosed prior to the auction in the buyer's package
- There are no financing or inspection contingencies
- Auctions are a costs effective way to sell your home versus the conventional way of having your home on the market and incurring of all the monthly carrying costs (mortgage payment, taxes, insurance, utilities, etc.).
How We Work
Not every home is right for the auction block. The initial step is to see your home, prepare a market analysis and to determine what the market value is. We will prepare a proposal designed exclusively for your property. We will display the marketing plan and timeline to prepare for a successful auction.
Our main agenda is to market your home aggressively and to capture a buying audience. We make all disclosures available prior to the auction so that a buyer has the opportunity to conduct the due diligence processes prior to the auction date, inspections, financing arrangements, etc... We want the buyer to know everything about the house to ensure confidence in them to participate in the auction.
The amount of earnest money is something that we will discuss with you. Once the amount is set, buyers will know that they must have that money with them in order to bid and that the earnest money is non-refundable.
Included in the buyer's package is copy of the Real Property Auction Purchase and Sale Contract. This gives the buyer the opportunity to review it. This is for disclosure and efficiency. Once the auction is complete, the winning bidder will complete the contract.
Once the home is sold you can expect to close within 30 days.
Ahh, how refreshing! Gone are the days of months on the market!
Seller Highlights Recap...
- Know the day and time your house will sell
- Know that your home will sell for the market's highest price
- Know that the terms and conditions are predetermined by you, the seller
- Know that there are no contingencies
- Know that if the buyer should back out of the contract, there is no haggling over the earnest money, it is clearly nonrefundable
Buyers
You should be prepared when coming to an auction. You should do your due diligence prior to the auction. At Lighthouse Auction Services we will provide you with a buyers package, we offer multiple inspection periods on our properties and we also offer private appointment times. If you have interest in the property, this is your opportunity to bring your home inspector, appraiser, family, Realtor®, etc…anyone who may help you in your decision making process as to what to offer and what to be willing to pay for the home.
If you are the winning bidder at the auction, you will complete the Offer To Purchase and Contract then and there.
The auction process is simple…the highest bidder gets the property.
The Benefits of Buying at Auction
- Steadfast Sellers:
We auction homes for sellers who really want to sell their homes; not for sellers who want to just test the market. - Buyer’s Package:
We only expect you to bid after having done your due diligence (inspections, financing, etc). Therefore your decision on whether to bid and buy is an educated and informed decision. - You Will Not Pay Too Much at an Auction:
At an auction you decide what the property is worth and know what other buyers are willing to pay. A piece of property is only worth what a buyer is willing to pay. Therefore the winning bidder pays fair market value. - When the Auctioneer Says “SOLD”:
Once the Auctioneer says sold, you see for yourself exactly what the property was sold for and that everyone was treated fairly. Unlike purchasing real estate the conventional way, when there are multiple offers, the buyer who didn’t get the home usually feels like the were not treated right. - No Back and Forth Counter Offering:
As soon as the auction is over, you will complete the Offer To Purchase and Contract. No waiting on the seller to sleep on it. This is great if you have time constraints.