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Practical and Legal Aspects of Real Estate Auctions

Gain an understanding of the auction process with an in depth look at the online selling process, typical contracts, terms, and understanding the operations of how and why.

Many people think a real estate auction is a last resort and a way to dump severely distressed assets. However, using aggressive marketing, the psychology of greed manipulation and the right professionals, the possibilities are almost endless. Rich Kruse of Gryphon USA and Zane Fry of Cushman & Wakefield have found that a cooperative auction process can provide that competitive environment and that expedited sale timeline. This topic is intended to provide you with information on buying and selling real estate at auction, and is targeted at attorneys, bankers, realtors, corporate executives and individuals who regularly need to engage the services of a sales professional to dispose of assets and real property. We will review the cooperative auction process with an in depth look at engaging these professionals, online selling, typical contracts, terms, and understanding the operations of how and why. You will have a better understanding of the industry, be able to negotiate the engagement of professionals, and will obtain various copies of retention and sales contracts for future use.

Runtime: 96 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Qualification of Presenters
  • Agenda
  • Summary Case Study of $3 Million Transaction

Asset Structure and Contract Terms

  • Liquidation Terminology
  • Types of Asset Sales
    • Live vs. OnLine
  • When to Look at Auctions/Liquidations- Seller Acceptance
  • Review of Listing

Putting It All Together

  • Broker Auctioneer Relationship/ Joint Venture Relationship
    • Roles
    • Fiduciary Duty
  • Marketing and Buyer Outreach
    • CA's and Buyer Qualifications
  • Broker Cooperation
    • Review of Sale Agreements
  • Closing- Timeline and Title Review
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 24, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Zane Fry

Zane Fry

Cushman & Wakefield

  • Director at Cushman & Wakefield
  • Specializing in capital markets
  • Practices the sale of income producing real estate in Columbus, Ohio
  • Member of the Midwest’s largest Capital Markets Team by sales volume
  • B.S. degree in business administration, with a focus in real estate and urban development, Fisher School of Business, The Ohio State University
  • Can be contacted at [email protected] or 614-827-1723
Richard F. Kruse

Richard F. Kruse

Gryphon USA, Ltd.

  • Managing partner at Gryphon USA
  • Specializing in expedited sales in court supervised transactions
  • Completed transactions in United States, Canada, and Mexico
  • Offers approximately 1,000 properties a year via auction
  • Can be contacted at [email protected] or 614-774-4118
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 403624
Published 2019
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