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Cape Cod Estate Property Sold Pre-Auction For $720,000

May 15, 2015

JJManning Auctioneers, a leader in the accelerated marketing and disposition of quality real estate, is pleased to announce the sale of 20 & 23 Preservation Path, Orleans, MA on behalf of the Estate of Barbara V. McCoy.  The property consists of a 2,055+/- sf. 4-bedroom home built in 1979 with attached heated in-ground pool under glass and 1-car garage as well as a detached 3-car garage all on 3.71+/- acres fronting on Namskaket Creek & Marsh offering panoramic views to Cape Cod Bay.

Heirs of the Estate had the property listed through conventional real estate brokerage for over 2 years before they turned to JJManning Auctioneers in the hope of securing a sale.   The auction contract was signed on January 26th and property information posted on www.jjmanning.com shortly thereafter.  The first advertisements broke on February 22nd and 23 groups, comprised of approx. 100 prospective buyers, attended the Open House on March 14th.  On March 16th an offer was tendered on the auction P&S and rejected by the Estate.  On March 18th a separate pre-auction offer was tendered on the auction P&S by participants at the Open House.  This offer was accepted by the Estate, and upon receipt of 10% in certified funds, the sale was postponed pending the closing.

Had the Estate not elected to accept this offer, it is anticipated that there would have been up to a dozen bidders competing for this property on auction day.  Ultimately the Absolute Auction method, wherein the property is sold to the last and highest bidder regardless of price, elevated the number of inquiries, website hits, social media activity, open house attendance and the level of pre-auction offers.

JJManning Auctioneers sells high value commercial & residential real estate.  With a full schedule of upcoming auctions, the firm is currently accepting consignments for the 3rd & 4th Quarter of 2015.  Please visit www.JJManning.com or call 800-521-0111 for further information.