Favorable Outcome: State of Texas Auctions-Real Estate Sales Records

A successful State of Texas Auction in November 2010 conducted by Brent R. Graves, Broker/Auctioneer United Country Real Estate offices in Texas, resulted in favorable outcomes for all parties involved in the Texas land auction.  Relying on the real estate sales records for background, Graves succeeded in convincing the sellers that a multi-parcel land auction with be the best tool for selling this large number of parcels.  He also gathered an excellent group of buyers for the auction.

Seventy-one tracts, mostly residential lots, needed to be sold at the State of Texas Auction.  The sellers hoped to gain $1 million from the auction and would have been "ecstatic" with $1.5 million.  Graves and his Texas auction company searched the real estate sales records and proposed to conduct a multi-parcel auction.  Attorneys for the seller were skeptical.  After a long discussion, however, they decided to move forward with a multi-parcel auction.  Alternatives were a single call per lot or choice auction.

On the day of the auction in Lubbock, bidders received terms and conditions and instructions.  After almost four hours, Graves's team settled on 30 combinations for a total sales price of $1.81 million.  Needless to say, the sellers were very happy with the marketing by United Country - Alliance Auction & Realty as well as the multi-parcel process utilized to obtain such successful results.

The "Hub City" of Lubbock is a city located in the northwestern part of the region historically known as Llano Estacado.  Lubbock is the county seat of Lubbock County, which was founded in 1876.  It is named after Thomas Saltus Lubbock, former Texas Ranger and brother of Francis R. Lubbock, governor of Texas during the Civil War.  The town of Lubbock was founded in 1890 and incorporated in 1909.

The population today is 230,000 and Lubbock, home of Texas Tech University, is the education, healthcare, and economic hub of the counties in the South Plains region.  Using water from the Ogallala Aquifer, Lubbock is the largest contiguous cotton-growing region in the world.  CNN Money noticed the strong business atmosphere and central location.  The Magazine selected Lubbock as 12th Best Place to Start a Small Business.

Contact Brent R. Graves, Broker/Auctioneer, United Country - Alliance Auction & Realty at (806) 553-1960.

United Country leads the nation in real estate auctions, which are increasingly popular since the introduction of online capabilities.  For more information about land auctions and Certified Auctioneers, contact United Country Certified Real Estate at 229-776-0065 or call toll free at 800-711-9175.