News: Front Section
Posted: February 10, 2017
JJManning Auctioneers earns top spot as GOLD Auctioneer from B&T
Yarmouthport, MA JJManning Auctioneers earned the top spot as the GOLD Auctioneer in the annual Banker & Tradesman’s readership poll for 2016. In their profession, there is no greater demonstration of trust than that of a consignor to absolute auction where their real estate will be sold to the highest bidder, regardless of price. For those willing to place their confidence in their sales history and to take a well informed leap of faith that their properly marketed absolute auction property will attract the largest number of bidders and generate the highest possible price, the rewards are proven. Through the years, their firm has employed this method of sale for a wide variety of property types leading to many satisfied clients including consignors of several properties sold at absolute auction in the second half of 2016.
Two separate clients sold their Cape Cod properties in E. Sandwich and W. Dennis, Mass. to generate cash assets to help fund their retirement years, attracting 18 and 22 bidders respectively to each auction sale where their properties were sold as is, with no contingencies with each buyer required to make a substantial certified deposit on auction day that was increased to a full 10% of the purchase price within 3 days, with the balance at closing within 45 days.
In December, their firm successfully sold an E. Longmeadow, Mass. industrial biotech building at absolute auction for a Chapter 7 Trustee for the US Bankruptcy Ctheirt for the District of NJ, forcing potential buyers to action under terms and in a time frame to suitable to the Ctheirt.
In October, the company sold the historic “Lighthouse Inn” property at absolute auction for the city of New London, Conn. prompting the city’s Economic Development coordinator to thank us for a “great job” and “successful auction” of this unique tax taking property that had sat vacant for 8 years and held by the city for over 3 years following default by a prior buyer. Sale of the property will potentially return $67,000 annually to the city’s tax rolls and a beloved National Historic Property Register landmark to future use.
Since 1976, JJManning Auctioneers of Boston & Yarmouth Port has successfully sold over 16,000 commercial, industrial, and residential real estate properties.
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