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Descant · 01-26-2021, 04:21 PM

Re: auction. There are specific laws about auction sales and you will need an auctioneer (who takes a commission) to do it right.
Auctions are usually held on site--awkward on an island at best.

I used to do my own (long term rentals) and found it easier to hire a Realtor who did screening, credit reports, etc, and was responsible if there were errors.

Years ago, I sold a Weirs condo with a small ad in the Laconia Citizen and listed my attorney's phone number. His staff took the calls. He said he'd check with the owner and get back. Before he could do that the buyer increased his offer above asking. SOLD! I think he looked in the windows-I don't recall driving to the Weirs to do showings. Today's market is like that with the Realtor taking the bids.

I have heard of people selling limited raffle tickets e.g.500 tickets for $1000 each. Again, there are laws that require you to follow through even if you don't sell enough tickets by the deadline.

FSBO--you stand a chance of unknowingly saying something that will come back to haunt you.

If Realtors weren't worth their fees, the fees would go down and/or the profession would not thrive.

I'd at least talk to a Realtor or two, especially ones that have good island experience. Ask about rental management plans. There's a camp near us on Welch that is leased for three years. Maybe in three years, your kids will feel differently. If they can't afford it now, they'll never be able to buy back in in the future when prices have continued rising.

Hope you'll get back to the Forum with how things progress. Don't neglect the advertisers on the Forum.
Good luck.

01-26-2021, 04:21 PM	#6
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,029 Thanks: 1,208 Thanked 1,509 Times in 982 Posts	Island? Re: auction. There are specific laws about auction sales and you will need an auctioneer (who takes a commission) to do it right. Auctions are usually held on site--awkward on an island at best. I used to do my own (long term rentals) and found it easier to hire a Realtor who did screening, credit reports, etc, and was responsible if there were errors. Years ago, I sold a Weirs condo with a small ad in the Laconia Citizen and listed my attorney's phone number. His staff took the calls. He said he'd check with the owner and get back. Before he could do that the buyer increased his offer above asking. SOLD! I think he looked in the windows-I don't recall driving to the Weirs to do showings. Today's market is like that with the Realtor taking the bids. I have heard of people selling limited raffle tickets e.g.500 tickets for $1000 each. Again, there are laws that require you to follow through even if you don't sell enough tickets by the deadline. FSBO--you stand a chance of unknowingly saying something that will come back to haunt you. If Realtors weren't worth their fees, the fees would go down and/or the profession would not thrive. I'd at least talk to a Realtor or two, especially ones that have good island experience. Ask about rental management plans. There's a camp near us on Welch that is leased for three years. Maybe in three years, your kids will feel differently. If they can't afford it now, they'll never be able to buy back in in the future when prices have continued rising. Hope you'll get back to the Forum with how things progress. Don't neglect the advertisers on the Forum. Good luck.