Beloit, WI – A quiet country setting came alive with excited bidders at a recent house auction to settle an estate.

            With the estate’s attorney, Dave Collins,  looking on, United Country Beloit Auction and Realty, did its job in an efficient 10 minutes that surpassed expectations.

The Auction got underway promptly at 1 p.m. with the Auctioneer’s announcements.

            The single family house at 4039 E. Colley Rd., in a rural setting just outside the city of Beloit, sits on one acre of land. The auction attracted a crowd that included many first-time auction-goers.

            “In this market selling your home at auction creates excitement and is  effective” said President Richard Ranft. 

The starting bid was $75,000 which was the estate’s lowest acceptable offer.  But bidding jumped quickly higher from there.

When the smoke cleared a short time later, Ranft and his team had achieved a winning offer of $138,600.00.  The price included a 10% buyer’s fee, well explained to potential bidders during the two previous open houses, and in the Auctioneer’s terms and conditions before the start of the sale.

            With his team of Vice President Bill Perkins, Associate Broker George Goecks, and REALTOR Tonya Frye alongside,  Ranft accepted bids from several parties in the crowd.  Perkins, Goecks and Frye caught bids, took notes, and spoke with bidders to make sure everyone knew what was happening at all times.

            Registered bidders numbered 13.  A crowd of several dozen looked on. As is usual at Real Estate auctions, as the bid price increased, the bidding field quickly narrowed to three, then two competitors.

            The third-place bidding team was a local couple who own a large home not far from the auction location.  They were looking for a smaller, more convenient place.

            Second in line was the Lavelle family of Beloit.  As Sue Lavelle explained, she and her husband Patrick wanted to buy the two-bedroom ranch house for their son Tom.  It was their first time at a house auction.  “We liked the location and structural soundness,” she said.  For them, the auction represented a good option for buying a house.

            Other bidders present included T. J. and David Hall who had a family connection to the home.  They reached their budgetary limit early on. And, interestingly enough, they had never attended a Real Estate auction before.

            REALTOR Marge Austin brought along her grandson Trent and friend Jessica Johnson.  Once again, United Country Beloit Auction & Realty had attracted first-time Real Estate auction-goers. Real Estate agents are always welcome to bring their buyers in for a co-broke share in the commission.

            The farmer from next door, Bob Lang, rode over on his John Deere lawn tractor to watch the action. 

            His new neighbor will be winning bidder Randy Fago of South Beloit, IL.   Fago, a commercial construction project manager is a first-time buyer.  He attended the auction with his parents.  “This house has great potential,” he said.  He had a chance to look it over carefully at the open houses.

            Fago will close on the property in less than a week.  He secured his standard offer to purchase with $2,000 of earnest money immediately after the auction.  He liked the ease and professionalism of buying on auction.

            With sunny skies and plenty of shade trees in the front yard, it was the perfect day for a perfectly successful auction.

            Beloit Auction and Realty, Inc. joined United Country in 2007.  The national company is the largest purveyor of auction properties across the U.S.

            “In this marketplace, our Real Estate Auctions give sellers and buyers a great opportunity to make the most of their properties and their dollars,” Ranft said.