One real estate auction group, Sky Southerby’s, is teaming up with Florida based Daniel DeCaro Real Estate Auctions, to host one of their largest auctions next month for property in Florida. South Florida is one of the markets in the U.S. that has an overload of inventory. Builders and Developers often turn to auctions to try to liquidate their inventory to recover cash on units that may otherwise go unsold. A previous auction in May resulted in $48 million dollars in offers, with $40 million dollars in sales. Those numbers indicate that there are plenty of buyers, but they are all looking for, and expecting a great deal.
For more information on the Florida auction in November, click here.
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