How Does Cain Auction Group conduct an auction?
The prospective seller will first need to sign up. After that, we will create a detailed auction description and the seller will sign the terms and conditions. Then, we will begin marketing efforts for the auction.
How Does Cain Auction Group promote an auction?
We will begin aggressive marketing strategies to get the word out. This could include marking signs, online and social media promotions, advertisements in the local newspaper, radio and television spots.
What is the difference in an absolute auction and a reserve auction?
Absolute auction refers to an auction that will sell to the highest bidder, regardless of price. With a reserve auction, there is a minimum price set and the bid must meet that minimum price for the property or item to sell.
What if I can’t attend the auction but I’m interested in buying?
Cain Auction Group will need to qualify you as an absentee bidder. Once that process is completed, you will then be able to begin your absentee bidding. Call us today at 270-559-9513 to find out how you can become an absentee bidder!
I don’t want to wait until the auction date. Can I purchase before the auction?
We do not allow purchases before auctions.
How soon will the closing date be after the auction is complete?
The closing date will be within 45 days after the auction is over.
Who is responsible for closing costs?
Buyers are responsible for all closing costs.
What is the buyer’s premium?
The buyer’s premium can vary depending on the auction. In most auctions, the buyer’s premium is 10 percent of the final price.
How can I pay if I win an auction?
You can pay with cash or check. Cain Auction Group does not accept credit or debit cards.
If I’m looking to buy, what information will be available to me before the auction?
Onsite pictures and property descriptions will be available on the Auction page of the Cain Auction Group website. Everyone is also welcome to call Jerry Cain at 270-559-9513 to discuss any upcoming auctions.
Who manages titles and when is the title transferred?
Deeds and titles are transferred the day of the closing. However, this will vary depending on whether an attorney is assisting you with the process.
Can I finance my purchase?
You are welcomed to work with your financial institution of choice to maintain your own financing.
Can anyone attend an auction with Cain Auction Group?
Of course, everyone is welcomed at a Cain Auction Group auction.
Is my deposit refundable if I change my mind?
No, you cannot receive a refund if you change your mind about a purchase.
Is the amount I bid the total price I will pay?
It depends on the individual auction. If a buyer’s premium is applicable, you will be responsible for that cost as well.
Can I use a broker?
If you are qualified through a broker, you can utilize that person during your auction process. But, if you do plan to bring your own broker, you must let us know 48 hours in advance.