What is a Multi-Parcel Sale?
In this kind of a sale, a single large property, such as a farm or subdivision, is divided into a variety of tracts, parcels and lots. This gives buyers the opportunity to purchase one of the units, all of them or various combinations of them. Properties that include both real estate and personal property such as estate or business properties are also examples of what can be sold at an auction. To demonstrate buying options, in a restaurant sale, for instance, the property can be divided into different items, such as the building, the equipment, the furnishings and the franchise license, all of which can be bid on separately or in any number of combinations.
Multi-parcel auctions are also rapidly gaining favor with buyers and sellers over conventional marketing. As with smaller properties at auction, these kinds of environments generate a lot of excitement and attract more interested parties. That is why auctions often sell a property for considerably more than what it would get in a conventional sale. Multi-parcel auctions are now the method of choice for determining the highest selling price for real estate because: