Exclusive Sea Island Waterfront Estate Offered at Absolute Auction

Oct. 13, 2011 - PRLog -- Charlotte, N.C. (October 5, 2011) -- Grand Estates Auction Company is offering a private marshfront estate on Sea Island for absolute auction on Nov. 1, 2011 at 3:00 p.m.   As an absolute auction, there will be no minimum bid nor reserve placed on this Sea Island vacation home featuring five bedrooms, seven full baths and two powder rooms.  

The gated Sea Island community has something for everyone:  world-class golf courses, Sea Island Stables, Yacht Club, Beach Club, The Cloister Spa, tennis, shooting range, five-star dining and so much more.  A nearby private airstrip offers easy access.  

The grand home is a vacation in itself whether trying to get away from it all or entertaining a large group.  Some of the many amenities include gourmet chef’s kitchen with double Sub Zero, warming drawers, granite countertops, limestone flooring, breakfast area, butler’s pantry and a keeping room with fireplace. The master suite features his and hers spa bathrooms, a morning kitchen, wet bar and a private balcony.  The house also boasts a library, silver room with safe, dock with ocean access, entertainment patio and pool, outdoor kitchen and fireplace, guest apartment with private entrance, greenhouses, formal rose garden and an outdoor misting system for pest control.

Although it may seem a risky proposition with no minimum price guaranteed, absolute auctions are becoming a preferred option for selling luxury real estate due to the expediency and transparency of the process.  Rather than spending months or years with a traditional listing playing the offer-counteroffer game where sellers are never certain if the next offer will be closer to the listing price, an absolute auction brings a pool of qualified, interested parties into a competitive auction where the home is sold to the highest bidder on that day.  Sellers can be confident that they will receive the best price the market can bear without contingencies or lengthy negotiations.  The true market value prevails.

As a buyer, there are benefits as well.  A comprehensive due-diligence packet is provided, and ample time is allotted for tours and inspections prior to the auction.  Bidding is in an open arena where there is no competitive advantage granted to anyone and the highest bid prevails.  Most importantly, the buyer knows the seller is committed to sell the property and timelines for the purchase and closing are established.

According to the National Auctioneers Association, sales of residential real estate at auction grew by more than 47% from 2003 to 2008.  In 2010, Grand Estates Auction Company saw a 26% increase in sales volume compared to 2009, at a time when national real estate sales were down 27.9%.  These are not properties of owners in distress, rather Grand Estates’ clients often own multiple properties and are looking for a lifestyle change or a means of repositioning themselves in the luxury market.

Viewing of the Sea Island home begins Thursday evening Oct. 27th with a reception at 6:30 p.m. and continues through auction day.  A $100,000 certified check or personal check along with a bank letter of guarantee will be required to register to bid on the property.   Provisions for remote bidding can be arranged.

Grand Estates Auction Company is the leader in the niche market of auctioning luxury real estate, specializing in properties ranging from $1.5 million to $10 million.  Established in 1999, the family-owned company was the first of its kind.  The company is based in Charlotte, N.C. with offices in Atlanta,  Dallas, Vail, Co., La Jolla, Ca., and Naples, Fla.  For more information visit http://www.GrandEstatesAuction.com.