Answers To Your Questions
Check the list below for some of the most frequently asked questions. Got a query that’s not on the list?
What does your company do?
Real estate, auctions and appraisal services: We are licensed Brokers, Auctioneers & Appraisers in the states of Indiana and Kentucky. We are also proud members of the Southern Indiana and Greater Louisville Association of Realtors, The Indiana Auctioneer’s Association and The Kentucky Auctioneer’s Association. We can sell residential or commercial real estate at auction anywhere in the states of Indiana and Kentucky. The service area for our traditional residential and commercial real estate sales covers the Louisville metro and Southern Indiana communities.
How much do you charge for your services?
Real Estate: You only pay us a commission if you are the seller in a transaction. We collect a percentage commission based upon the sales price of your home. Our commissions are competitive, and services provided are complete and turn key. As a buyer in a real estate transaction, you do not pay our commission.
Real Estate Auctions: The buyer pays our commission in a real estate auction transaction. Our commission is based on a percentage of the sale. Typically, it is a 10% buyer’s premium. We also provide services in prepping, securing properties and clean out of waste. Those services are invoiced on a case by case basis.
Personal Property Auctions: We give estimates/proposals on a case by case basis for personal property auctions. Cost is determined by the amount of personal property you need to liquidate, time-frame and if the auction can be conducted on-site or if it needs to moved back to our warehouse.
Appraisal Services: Cost is determined on what you have that is requiring an appraisal. Whether it is real estate, vehicles or personal property, the cost for our appraisal services is determined on a case by case basis.
Do you have a local office?
We are located at 410 Wall Street, Jeffersonville, Indiana. We have a comfortable, warm and inviting office where we meet with clients on a regular basis. Plus, our location is in a great location – only 2 blocks from the Big 4 Walking Bridge.
Why choose Lincoln Crum Realty & Auctions?
Experience. We have lots of it. Our owner and Chief Auctioneer, Lincoln Crum, has been conducting auctions and selling real estate since the late 1980’s. Our company has sold it all, from houses, farms, cars, estates and business liquidations. Lincoln is a second-generation Auctioneer and Realtor who was trained by his father. He uses some of the same training principles when guiding his team at Lincoln Crum Realty & Auctions; principles that have been utilized for thousands of transactions.
Why choose an Auction to sell my house?
The auction method of marketing works extremely well when you are a motivated seller and the property needs to be sold swiftly. Some advantages can also be found by utilizing a quick closing time, no inspection contingencies and most of the time a cash fueled closing. Combining a “no contingency” offer and all the other expedient terms of an auction we have created countless satisfied customers over the years.
When is the best time to sell my house or have an auction?
Historically the best time to sell is in the fall or spring but we are busy 12 months out of the year. The market slows down during the holidays, but we advise our clients that this may be the perfect time to sell as fewer properties are on the market at that time. When it comes to an auction, we do them every single week of the year, the urgency with an auction far outweighs the other logistics such as holidays.
What are the best websites for me to search for my next home?
www.Realtor.com is the best site to utilize your home search. Of course, you can also check out the popular sites such as Trulia and Zillow but keep in mind their information is not always up to date and current. When working with buyers we also set up a custom search with our local Louisville & Southern Indiana MLS providers to make sure any new properties coming to market that match our buyer client’s stipulations will populate automatically to their email.
Should I get a pre-approval letter before I start looking?
Yes, always make sure you know where you stand when it comes to securing financing. We work with all the reputable lenders in town to make sure our clients receive the best service possible when it comes to a mortgage. The mortgage process is ever changing so make sure you stay up to date with a solid loan officer. Also, going into an offer situation you, as the buyer, will have more negotiating power if the seller knows that your financing is in place.
How important is a home inspection?
One of the most important elements of buying a home is the inspection. We always recommend you secure a licensed home inspector to check out any property you are purchasing. The strength of every transaction relies upon a good home inspection. There are also other inspections that sometimes are required such as termite and pest, radon, structural, surveys…but don’t worry, we are here to help facilitate and move you through the process.
Do you have a local office?
We are located at 410 Wall Street, Jeffersonville, Indiana. We have a very comfortable, warm and inviting office where we meet with clients on a regular basis. Plus, our location is pretty cool and only 2 blocks from the new Big 4 Walking Bridge.
Do you have an auction facility, or can I have the auction at my property?
We can do an auction on-site or at our office. A lot of that depends on the amount of personal property to be sold and timing. Sometimes it makes sense to conduct the auction at your house or place of business. We have several options and will work with you to come up with the best plan of action.
Do you ship?
Yes, we typically use USPS and the most economical method. You can request for your shipment to have insurance. We charge for materials such as boxes, packing materials, etc. and add 25% of the shipping cost as our handling fee.
I can't make it on the scheduled pickup day.
This is usually not a problem if you let us know in advance of the scheduled pick up day. However, some auction pick-up dates are nonnegotiable, and the buyer will be required to pick up their items on the day and time stated in our auction terms and conditions.
Can I pay with cash?
We prefer to be paid by the card that is on file. Under certain situations we can accept cash or check.
What is the Buyer's Premium?
The Buyer’s Premium is what the auction company uses to offset expenses such as marketing, cataloging and other labor costs.
How does the max bid work?
The max bid is designed to allow the bidder to place the maximum they are willing to spend. The bid does not automatically increase to that maximum bid. The bids will proceed in the pre-determined increments until you max bid is reached.
Why does it add time when I bid with less than 2 minutes remaining on the clock?
Our auction software is different than the “eBay” style of online auction. If a bid is placed within the last 2 minutes of the bidding, additional time is added to the lot. In other words, sniping is not a part of our bidding.
If my credit card is declined, what do I need to do?
If you receive an email saying your credit card was declined, please contact us the next business day so we can make other arrangements to collect payment.
Do you have someone that can help load heavy items?
Yes, typically we have several people to help with loading.
Can I send someone else to pick up my items?
Yes, we work on the honor system. If the designated person can bring your invoice, that will make the pick-up process smoother.
Do you have Saturday or after-hours pickup?
Our business hours are Monday through Friday from 10am to 5pm. We do not do weekend pick-ups. After-hours pick-ups can sometimes be arranged.
What if my item is broken/not working?
We try to insure this is not a problem by testing items and also by careful packaging but mistakes do happen.
Can you bring my items back to the office if I can't make an offsite pickup?
This usually depends on the size of the item. Small, easy to transport items are usually not a problem.
How often do you have auctions?
It is normal for us to have several auctions closing at different times every Sunday evening, with pick-up the next day.
Do you do any live auctions?
No. After many years in the live-cry auction business, we are strictly online only.
How can I hire you to do an auction for me?
Why didn't I win when I had the same high bid amount as the winning bid?
Most likely as a result of a tie bid. If two bidders have the same bid, the tie goes to whoever had their bid in first.