Madison's Auctions and Appraisals Co. Ltd.
At Madison’s Auctions and Appraisals Co. Ltd., we understand the importance of liquidating your assets in a timely and professional manner. When we go to auction, we invest our time and resources into generating willing and able buyers that are qualified to bid on your assets. We specialize in auctioning assets at fair market value by those who understand the time value of money. In addition to being one of Belize’s premier auction companies, we are knowledgeable and trusted liquidators. In today’s economic environment, auctions are the best way to buy and sell assets. Browse our site, take a look at our upcoming auctions, and find out why an auction may make sense for you.
The firm has earned a reputation for integrity and results with many satisfied Clients. We strive to provide our Clients with the best value added service and the highest level of honesty, veracity and expertise in the auction industry.
Real Estate AuctionsBecause we are Reliable.
We realize that real estate auctions demand a highly specialized and complete marketing program unique to the type of property being auctioned. At Madison’s Auctions, we utilize a variety of methods including direct mail, newspapers, internet and email notifications, and other applicable media. We then determine which avenues are appropriate for each specific property, and proceed by creating and placing strong and effective advertising to attract local, regional, and international buyers.
Appraisal ServicesBecause we are trusted.
We are property appraisers who offer verbal and written formal appraisal documents. We also specialize in the liquidation of properties ranging from personal, to small business through to large corporations.
We draft written appraisal reports acceptable for insurance purposes against loss due to fire, loss, or theft. All reports are based on replacement value and can include photographs for additional documentation.
Investment Recovery ServicesBecause we are advanced.
Our fully trained, professional staff will handle all details prior, during, and after the auction sale. We provide advertising on local, regional, and national levels as necessary. We provide fast, prompt payment and settlement on all accounts.
Frequently Asked Questions
We have answered a wide range of Questions for your ConvenienceQ. Can I inspect a property before the auction?
Yes. Most properties will have open public inspection periods and we recommend you perform any inspections or have the property appraised before auction day. The dates and times for public inspection are listed on each property's detail page. Additionally, properties are available for public viewing through licensed real estate brokers/agents and licensed, certified property inspectors upon registration of the viewing.
Q. Is there a reserve price?
All properties are auctioned subject to seller confirmation (a reserve auction) unless otherwise disclosed as absolute or without reserve. Properties sold subject to seller confirmation or reserve may not have a published reserve value, and the high bid is simply subject to seller approval. Properties auctioned absolute or without reserve have no reserve value and the property will sell to the high bidder on auction day.
Q. Can I use bank financing?
Yes. However, the properties are being sold without contingencies, "Cash, As Is, Where Is" so you should be pre-qualified by a lender as to the amount you can afford to spend for a property being sold for "Cash, As Is, Where Is."
Q. Can I use my own title company?
Yes. However, the terms of sale which are stipulated in the contract will still apply. Specifically, that the insurable title as prepared and offered by the indicated title company shall be the standard agreed to and accepted by the parties for conveyance and that the buyer shall pay all costs already incurred and required by that title/closing company. Therefore, you may use your own title company to close the transaction, but you may still be responsible for some costs incurred by the original title company.
Q. Do I need to use a real estate agent?
An auction provides a clean, time definite, exchange between the parties and traditionally allows the buyer to minimize the number of intermediaries separating him/her from the seller. Although as the auctioneer Madison's Auction & Appraisal Co. Ltd. represents the seller, we have the responsibility to treat all parties fairly and in accordance with real estate law. If a buyer feels more comfortable having representation at an auction, s/he is welcome to have an agent register the buyer as a client, attend the auction, and assume the role of a buyer's agent.
Q. Do you have to register for an auction?
all potential buyers are required to register as bidders before an auction begins and obtain a bidder number. The agent will need your name, address and proof of ID before your registration can be accepted.
Q. What is an Absentee Bid
A procedure which allows a bidder to participate in the bidding process without being physically present. A bidder who cannot attend submits an offer prior to the auction. All arrangements to payment have been made in advance.
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