First, you need to figure out your absolute lowest price you could take. This will be your starting bid.
Advertise for a sealed bid auction on Saturday. Saturday’s seem to work best but, you can do Sunday or both. Make sure that you put somewhere that all offers must be cash. You do not want to wait around for someone qualify for a loan.
Put ads in your local papers, penny saver and any other place you can think of. Next put together a flyer, and hire a door hanging service. For $100-200 they will hang your flyer on every door within 1-2 mile radius of your home. Here again, you could do this your-self to save some money.
Now create a bid form. It doesn’t have to be anything fancy. Make sure it includes their name, contact information and how will they be paying for the home. Cash, hard money, credit card or a line of credit.
It’s now the day of the auction and you have a ton of people come through and look at your home and you received 9 bids. The next day you start call these bidder starting with the lowest one. You then tell them that the highest bid is $X and ask them if they would like to make an offer higher than that? If yes you call the next lowest bidder and say the same thing. If no delete that person and go to the next lowest bidder. And repeat the process. In the next day or two you should a acceptable bid. Now just write up the offer and set the closing for 7-10 days.
For other tips like this one you can get my free report. “13 ways to sell a house fast” in today’s market. www.ihelpforeclosures.com/index.html