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Estate Auction

The Tranzon companies can help trustees and beneficiaries develop reasonable expectations about the value of an estate, and pinpoint the best strategies and prospective buyers for an estate auction. A trustee or executor usually manages the sale of estates, and often must be accountable to dozens of beneficiaries who have conflicting interests and wishes about the property. Tranzon helps sellers find the right group of prospective buyers even when there are complex issues that must be settled before the sale.

Case Study:

Tranzon Fox conducted an estate auction for the trust department of a major regional bank. The property was in trust for nearly 20 years, consisting of 35 individual tracts of land, residential and commercial real estate all of which had been poorly maintained. There was even an island that was a popular site for duck hunters. Marketing consisted of newspaper ads, highly visible signage and a direct mail brochure sent to a carefully researched list of potential buyers.

The campaign brought 200 inquiries and 82 registered bidders, including 14 who were registered by brokers. Auctions were scheduled over two days, and moved from site to site, which allowed buyers access to the properties in most cases. The event drew the attention of newspapers and TV, which provided coverage before, during and after the auction. Buyers bid on all 35 properties, with prices totaling more than $900,000, and all but two contracts were consummated.