How to sell a house in Five Days ?

[HippoDog]

Hello,  I just finished reading the book HOW TO SELL A HOUSE IN FIVE DAYS which is on the book list on this site.

Anyone here familiar with using this method to sell a house in Texas?  It involves conducting a round robin auction where the house is sold to the highest bidder.

My main question is whether this selling method is legal in Texas?


Thanks,

Sean

[srbaum17]

HippoDog,
I cannot offer you legal advice, because I am not a lawyer.  I have tried it twice and it worked both times.  I know somebody else that recently sold a house with it as well.  Good luck.

Steve

[HippoDog]

Thanks Steve,

I think I'm gonna give it a go the weekend after July 4th.  I'll let you know how it turns out.

[tedjr]

I would love to know how it works out too. I have seen a few ads here in Austin and did not go to the sale. I have a $200,000 property in Oak Hill that has not sold and would like to try this approach. Will you contact me tell me the jist of the process.

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile

[srbaum17]

Ted,
it's basically an auction process.  I strongly suggest you read the book by Bill Effros.  He has some tips about how to structure the ads, make signs and so forth to boost attendance.  Attendance is the key.  We had over 60 groups of people come through the house in 2 days.  (compared to about 12 showings in 6 months prior to the sale). In the end only 3 people were serious bidders, but that's all we needed.

Good Luck,
Steve

[TOIYEUDOI]

Ted,

you can buy that book " HOW TO SELL YOUR HOME IN 5 DAYS" at AMAZON very cheap it about $10.00 few days ago Amazon have free shipping promotion too.

good luck :eyes

[deepvoice75]

If you don't get the price you need, can you back out?

Harith

[tedjr]

Well actually a year and 5 days. I set the goal to sell the house after holding a year. Signed contract 5 days after setting that goal. Luck or positive thinking or Karma but the deal is done. I want to read this book too if i can get a copy at a yard sale.



 

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile

[kpaddler]

I have also used this method to sell houses. Even if the house did not sell, we shook out so much activity that we would end up doing something creative like a lease/option with some of the houses. You are not locked in to selling if you don't get your price. We used Bill Effros Book but "tweaked" some of the ideas in it. One was that we also ran the ad the Sunday before the round robin and then from Wed-Sunday the week of the round robin. We also increased the number of signs we put out and we put the info pack into a take one tube on the property the whole week before the auction. These methods worked really well. Kathy