Common Hour Auction Co.Sell

Luxury home auctions in Middle Tennessee

Luxury home auctions in Middle Tennessee put a one of a kind house in front of competing, pre-qualified bidders, so the price comes from real bids instead of a guess. With Common Hour, the home is marketed nationally and carries a reserve, so it does not sell unless bidding meets it. Done well, an auction is the most honest kind of transaction available.

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Is this the right fit?

A high price alone does not make a home a fit, and auction does not suit every property. It works when a house is unique, recent sales cannot price it, and more than one qualified buyer is likely to compete. At this level the buyer pool can be small, and one bidder is not an auction. A public sale is also the wrong method if you want a patient and quiet timeline.

How it works.

  1. Count the likely buyers

    First comes a hard question: who, besides one buyer, could realistically compete for this home? If the answer is nobody, auction is the wrong method, and you hear that from us before we accept.

  2. Build a catalogue that explains the house

    Comparable sales cannot speak for a house like this, so the catalogue has to. It sets out the land, construction, finishes, outbuildings and systems in plain terms. Descriptions are not warranties.

  3. Open the home for inspection

    Bidders inspect and verify on their own, so they need time inside the house and on the grounds before they commit. The home sells as is, where is, with all faults.

  4. Qualify bidders on real money

    Registration can call for government ID, proof of funds or lender pre-approval. The terms bar shill bidding by the seller, an agent, the auctioneer or a related party unless the Special Terms disclose it.

  5. Bid to the reserve and past it

    Bidding runs online, live or both, and nothing sells until a bid meets the reserve. In an absolute over reserve auction, once a bid meets the reserve the home sells to the highest bidder at the hammer.

  6. Close through escrow

    Earnest money goes to the escrow agent within 24 hours of the close, and the balance is due at closing within 30 days of the auction unless the Special Terms say otherwise. There is no financing contingency, which is why proof of funds matters early.

Who handles what.

Common Hour handles

  • An honest count of likely buyers before we accept the home
  • A catalogue that explains what sets the property apart
  • National marketing, with online bidding open to buyers nationwide
  • Bidder pre-qualification, including proof of funds or lender pre-approval
  • Bidding online, live or both

You handle

  • Keeping the home ready to show during viewings
  • Listing anything that does not convey, such as chandeliers or art you plan to keep
  • Agreeing to the reserve and the sale's Special Terms in writing
  • Bringing your Realtor, attorney or CPA into the conversation early

How fees work.

A standard buyer's premium of twelve percent is added to the hammer price under Common Hour's auction terms, unless modified in writing, so a bidder's top number should account for it. On a home it also serves as the non-refundable earnest money, and cooperating broker fees, if any, are paid out of it. Seller's commissions are disclosed in writing.

Commissions and fees are not set by law and are fully negotiable.

Questions about luxury home auctions.

Why would a luxury home go to auction?

Usually because the house is hard to price. When few homes compare, a list price is a guess, and a wrong guess can leave a home sitting. Auction lets more than one qualified buyer compete in a timed sale while the market sets the price. It works best chosen at the listing decision, not as a rescue.

Do you handle a luxury home auction in Franklin, TN?

Franklin sits inside our Middle Tennessee service area, along with Brentwood, Leiper's Fork, College Grove and Nashville. The home is marketed nationally and online bidding reaches buyers nationwide, so the sale does not depend on who happens to drive past.

What should I ask luxury real estate auction companies before I sign?

Ask who they expect to bid and why, and how bidders are pre-qualified. Ask whether the reserve will be published or confidential, and who holds the money. Ask to see the buyer's premium and the seller's commission in writing. Then ask whether they would ever turn your home down, because a firm that takes every listing is not judging fit. Commissions and fees are not set by law and are fully negotiable.

Do luxury real estate auctions need a property condition disclosure?

Not under Common Hour's auction terms. The seller is not required to provide a Tennessee Residential Property Condition Disclosure for auction sales, and lead paint disclosures for pre 1978 housing are provided when applicable. Bidders inspect and verify on their own. Ask your attorney how this applies to your sale.

Is a luxury property auction private?

No. An auction is a public negotiation, marketed nationally, and that openness is part of how it works. The Special Terms may keep the reserve confidential, but the sale itself happens in the open. If privacy comes first, a quiet listing may serve you better.

What happens to the art, rugs and furniture inside?

They do not have to go with the house. Contents can sell in a separate personal property auction with its own rules: payment in full within 24 hours of the close and release after payment clears. Tell us early what stays, what goes and what conveys with the home.

More auction questions

Related services.

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Where we offer luxury home auctions.

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