The Three A’s of Estate Planning and Settlement
Attorney - Accountant - Auctioneer
Planning or settling an estate is an involved and serious process. Put Father Time® Auctions to work with your attorney and accountant to best market your assets for the maximum return. Below are a few of the most frequently asked questions. If your question is not answered, contact Father Time® Auctions at 314-962-4200 for the solution to your situation.
Why do I need an Attorney?
A professional estate attorney will explain the legal procedures involved in settling an estate. Their guidance and work is indispensable to the timely filing of court documents, calculating the inheritance tax and proper settlement of the estate.
Why do I need an Accountant?
If a professional accountant was used by the decedent, the accountant can provide you with past records, tax returns and information on the assets in the estate, including the financial status of any investments. They can coordinate and condense all of the financial information for you.
Why do I need an Auctioneer?
Today’s families are often separated by hundreds to thousands of miles and are unable to personally handle the work required to settle an estate. The task can be overwhelming. A professional auction staff is trained in the management, preparation and marketing of estate assets to achieve the highest return possible. Auctioneers work to fulfill the wishes of the will, the executor or administrator and your attorney in an efficient and timely manner. Only through the auction process can you sell the real estate, vehicles, household, antiques, collectibles, furniture, appliances, tools, equipment and every other estate asset in one day for top dollar.
Why should I use Father Time® Auctions?
Father Time® Auctions is staffed with real estate and estate specialists and have earned the Certified Estate Specialist and Accredited Auctioneers of Real Estate designation from the National Auctioneers Association as well as the Certified Relocation and Transitions Specialist designation CRTS. Father Time® Auctions is a licensed Real Estate Company with MLS membership to market your real estate and to legally share commissions with participating brokers. Staffed with credentialed Brokers, Agents, Auctioneers, Marketing and Sales people. Father Time® Auctions has 4 full time Certified Personal Property Appraisers on staff should appraisals be needed for any estate matters or charitable contributions. Learn more about Why to Hire Father Time® Estate Auctioneers
Why should I list the property with Father Time® Auctions and Real Estate?
Father Time® Auctions is licensed as a Real Estate Company with Multiple Listing Service membership and staffed with brokers and agents. Our primary sales strategy is selling real estate through accelerated marketing techniques at auction to get the property sold fast and at its highest market value. Our strategies are designed to be AGENT FRIENDLY and inclusive to compensate Brokers and their Agents for participating with buyers in the sale and earn commissions. Selling at Auction makes sense:
* Selling as is where is with no fix up expense or repair contingencies
* All cash no contingency contract with 30-day closing
* Guaranteed sale of their property in about 30-days
* The auction will deliver 100% of the present cash market value for that property in about 30-days, all cash, no contingency, 30-day or less closing.
* No seller commission!
How many times have you seen a property sit on the market for months and even years? During that time the expenses of taxes, insurance, utilities, mortgage payments, maintenance and, sad to say, vandalism can result in 10 to 25 percent of the value spent in overhead per year. This results in the family and heirs receiving less money. We realize time is money and a property is only fresh to the market once. The auction advantage capitalizes on that premise to stimulate demand and competition for your property. Father Time® Auctions will achieve the greatest return for your property in the shortest time frame possible. Auctions produce results quickly.
Our formula is unique and it works. Call our managing Broker Rick Bauer to learn more at 314-962-4200
Can the family or heirs buy at auction?
Yes. A public auction is the fairest of all methods for selling real estate and personal property. The auction allows all interested parties including family and heirs to bid and participate. Family relationships are preserved since no one is upset because they did not have the opportunity to buy a particular item or keepsake. Everyone has the same opportunity to buy at auction and the family or heirs receive the money.
How will the assets be advertised?
The auction process will focus attention on the real estate and personal property through a highly aggressive advertising campaign primarily internet marketing with search engine optimization focused including e-mail blasts to agents and investors, various auction websites and the Father Time® Auction website. Real Estate Auction are also offered through online bidding.
How long will it take to auction the real estate and personal property?
The normal time frame for real estate and personal property sold at auction is 4-6 weeks from the signing of an auction agreement. You set the date, time, place and terms to suit your needs and goals. The condensed marketing time reduces or eliminates the holding costs involved with other forms of marketing, which erode the value of the estate. By auction, the seller quickly converts hard assets into cash for distribution to family, heirs and creditors.
Do I have to sell regardless of the price bid at the auction?
No! You can auction the real estate and personal property at absolute auction or with reserve. Absolute means the property will sell to the highest bid regardless of price. With reserve means the seller has the right to accept or reject any and all bids not reaching their pre-established minimum. Any reserve should be set at the lowest possible price at which the item will sell. A typical reserve item in the auction would be the real estate, a vehicle or other item of significant value.
When are the auction proceeds turned over to the estate?
We can turn the net proceeds from the personal property over to you the day of the auction or we can place them in our escrow account for payment in approximately 15 business days. We provide you with a settlement statement listing all expenses (advertising, labor, commission, etc.), copies of bills, computerized list of registered bidders and a listing of each item sold with the corresponding sales price. Real estate deposits are placed in our escrow account until closing when the real estate commission is deducted and the balance of the proceeds are paid to the closing attorney or seller. Closing on residential property typically takes from 30 to 45 days after the auction.
What will Father Time® Auctions provide?
Complete auction services. Father Time® Auctions will provide all auction paperwork including registration, bid cards, receipts, and real estate sales agreements. Our friendly professional staff and set up crew will coordinate everything needed to ensure a successful auction including marketing the auction, auction set up, arranging items, tagging, cataloging, monitoring removal, settlement statement and, when necessary, tents, portable restrooms, trash removal, etc.
Can I give part or all of my estate to a charity?
Yes! We can conduct a public auction in your honor stating the name of the charitable organization receiving the proceeds. By having Father Time® Auctions conduct the auction, you are leaving a substantial contribution to the organization of your choice without increasing their workload.
Broker, Realtor and Salesperson participation is encouraged
Learn more:
Call for a free assessment 314-962-4200 or write FatherTime® at sold@fathertime.com
Home Office:
Rick Bauer, Auctioneer, AARE, CES, Realtor, GRI, CDPE, CRTS, CAGA
Paul Roesch, Auctioneer, AARE, CES, Broker,CDPE. CAGA 618-407-8479 cell
Father Time® Auctions
2850 Lawndell Drive
St. Louis, MO 63144
314-962-4200 office
314-614-3841 mobile
314-962-2573 fax
rbauer@fathertime.com
www.fathertime.com
Why do I need an Attorney?
A professional estate attorney will explain the legal procedures involved in settling an estate. Their guidance and work is indispensable to the timely filing of court documents, calculating the inheritance tax and proper settlement of the estate.
Why do I need an Accountant?
If a professional accountant was used by the decedent, the accountant can provide you with past records, tax returns and information on the assets in the estate, including the financial status of any investments. They can coordinate and condense all of the financial information for you.
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Why do I need an Auctioneer?
Today’s families are often separated by hundreds to thousands of miles and are unable to personally handle the work required to settle an estate. The task can be overwhelming. A professional auction staff is trained in the management, preparation and marketing of estate assets to achieve the highest return possible. Auctioneers work to fulfill the wishes of the will, the executor or administrator and your attorney in an efficient and timely manner. Only through the auction process can you sell the real estate, vehicles, household, antiques, collectibles, furniture, appliances, tools, equipment and every other estate asset in one day for top dollar.
Why should I use Father Time® Auctions?
Father Time® Auctions is staffed with real estate and estate specialists and have earned the Certified Estate Specialist and Accredited Auctioneers of Real Estate designation from the National Auctioneers Association as well as the Certified Relocation and Transitions Specialist designation CRTS. Father Time® Auctions is a licensed Real Estate Company with MLS membership to market your real estate and to legally share commissions with participating brokers. Staffed with credentialed Brokers, Agents, Auctioneers, Marketing and Sales people. Father Time® Auctions has 4 full time Certified Personal Property Appraisers on staff should appraisals be needed for any estate matters or charitable contributions. Learn more about Why to Hire Father Time® Estate Auctioneers
Why should I list the property with Father Time® Auctions and Real Estate?
Father Time® Auctions is licensed as a Real Estate Company with Multiple Listing Service membership and staffed with brokers and agents. Our primary sales strategy is selling real estate through accelerated marketing techniques at auction to get the property sold fast and at its highest market value. Our strategies are designed to be AGENT FRIENDLY and inclusive to compensate Brokers and their Agents for participating with buyers in the sale and earn commissions. Selling at Auction makes sense:
* Selling as is where is with no fix up expense or repair contingencies
* All cash no contingency contract with 30-day closing
* Guaranteed sale of their property in about 30-days
* The auction will deliver 100% of the present cash market value for that property in about 30-days, all cash, no contingency, 30-day or less closing.
* No seller commission!
How many times have you seen a property sit on the market for months and even years? During that time the expenses of taxes, insurance, utilities, mortgage payments, maintenance and, sad to say, vandalism can result in 10 to 25 percent of the value spent in overhead per year. This results in the family and heirs receiving less money. We realize time is money and a property is only fresh to the market once. The auction advantage capitalizes on that premise to stimulate demand and competition for your property. Father Time® Auctions will achieve the greatest return for your property in the shortest time frame possible. Auctions produce results quickly.
Our formula is unique and it works. Call our managing Broker Rick Bauer to learn more at 314-962-4200
Can the family or heirs buy at auction?
Yes. A public auction is the fairest of all methods for selling real estate and personal property. The auction allows all interested parties including family and heirs to bid and participate. Family relationships are preserved since no one is upset because they did not have the opportunity to buy a particular item or keepsake. Everyone has the same opportunity to buy at auction and the family or heirs receive the money.
How will the assets be advertised?
The auction process will focus attention on the real estate and personal property through a highly aggressive advertising campaign primarily internet marketing with search engine optimization focused including e-mail blasts to agents and investors, various auction websites and the Father Time® Auction website. Real Estate Auction are also offered through online bidding.
How long will it take to auction the real estate and personal property?
The normal time frame for real estate and personal property sold at auction is 4-6 weeks from the signing of an auction agreement. You set the date, time, place and terms to suit your needs and goals. The condensed marketing time reduces or eliminates the holding costs involved with other forms of marketing, which erode the value of the estate. By auction, the seller quickly converts hard assets into cash for distribution to family, heirs and creditors.
Do I have to sell regardless of the price bid at the auction?
No! You can auction the real estate and personal property at absolute auction or with reserve. Absolute means the property will sell to the highest bid regardless of price. With reserve means the seller has the right to accept or reject any and all bids not reaching their pre-established minimum. Any reserve should be set at the lowest possible price at which the item will sell. A typical reserve item in the auction would be the real estate, a vehicle or other item of significant value.
When are the auction proceeds turned over to the estate?
We can turn the net proceeds from the personal property over to you the day of the auction or we can place them in our escrow account for payment in approximately 15 business days. We provide you with a settlement statement listing all expenses (advertising, labor, commission, etc.), copies of bills, computerized list of registered bidders and a listing of each item sold with the corresponding sales price. Real estate deposits are placed in our escrow account until closing when the real estate commission is deducted and the balance of the proceeds are paid to the closing attorney or seller. Closing on residential property typically takes from 30 to 45 days after the auction.
What will Father Time® Auctions provide?
Complete auction services. Father Time® Auctions will provide all auction paperwork including registration, bid cards, receipts, and real estate sales agreements. Our friendly professional staff and set up crew will coordinate everything needed to ensure a successful auction including marketing the auction, auction set up, arranging items, tagging, cataloging, monitoring removal, settlement statement and, when necessary, tents, portable restrooms, trash removal, etc.
Can I give part or all of my estate to a charity?
Yes! We can conduct a public auction in your honor stating the name of the charitable organization receiving the proceeds. By having Father Time® Auctions conduct the auction, you are leaving a substantial contribution to the organization of your choice without increasing their workload.
Only by auction can you sell the real estate, vehicles, household, antiques, collectibles, furniture, appliances, tools, equipment and every other estate asset in one day for top dollar!
Broker, Realtor and Salesperson participation is encouraged
Learn more:
Call for a free assessment 314-962-4200 or write FatherTime® at sold@fathertime.com
Home Office:
Rick Bauer, Auctioneer, AARE, CES, Realtor, GRI, CDPE, CRTS, CAGA
Paul Roesch, Auctioneer, AARE, CES, Broker,CDPE. CAGA 618-407-8479 cell
Father Time® Auctions
2850 Lawndell Drive
St. Louis, MO 63144
314-962-4200 office
314-614-3841 mobile
314-962-2573 fax
rbauer@fathertime.com
www.fathertime.com
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