Buying at Auction

Can I inspect a property before the auction?
Yes. Most properties will have open public inspection periods and we recommend you perform any inspections before auction day. The dates and times for public inspection are listed on each property’s detail page. Additionally, properties are available for public viewing through licensed real estate brokers/agents.

What is a buyer’s premium?
The buyer’s premium is paid by the buyer and used to compensate the real estate broker representing the buyer and/or the broker or auctioneer representing the seller.

Do I get insurable title?
Yes. Most properties are transferred by deed prepared by the seller (i.e. special, bargain and sale, quit claim, etc.) with insurable title as determined by the title company indicated on the contract. A customary owner’s title insurance policy is issued for each property.

Can I use my own title company?
Yes. However, the terms of sale which are stipulated in the contract will still apply. Specifically, that the insurable title as prepared and offered by the indicated title company shall be the standard agreed to and accepted by the parties for conveyance and that the buyer shall pay all costs already incurred and required by that title/closing company. Therefore, you may use your own title company to close the transaction, but you may still be responsible for some costs incurred by the original title company.

Is there a reserve price?
All properties are auctioned subject to seller confirmation (a reserve auction) unless otherwise disclosed as absolute or without reserve. Properties sold subject to seller confirmation or reserve may not have a published reserve value, and the high bid is simply subject to seller approval. Properties auctioned absolute or without reserve have no reserve value and the property will sell to the high bidder on auction day.

Can I use bank financing?
Yes. However, the properties are being sold without contingencies, “Cash, As Is, Where Is” so you should be pre-approved by a lender as to the amount you can afford to spend for a property being sold for “Cash, “As Is, Where Is.”

Do I need to use a real estate agent?
An auction provides a clean, time definite, exchange between the parties and traditionally allows the buyer to minimize the number of intermediaries separating him/her from the seller. Although as the auctioneer Warner Real Estate & Auction represents the seller, we have the responsibility to treat all parties fairly and in accordance with real estate law. If a buyer feels more comfortable having representation at an auction, he or she is welcome to have a licensed agent register the buyer as a client, attend the auction, and assume the role of a buyer’s agent.

Will I know on site if my bid was accepted?
If you are the high bidder on a property selling absolute or without reserve that means there is no reserve value and the high bid is the sale price. If a property is not being marketed as absolute or sells without reserve the high bid is subject to seller confirmation or approval. For properties subject to seller approval, the high bid is irrevocable for a period of 14 calendar days.

What does buyer’s choice mean?
In this method of auction, bidders compete for the right to choose first from a pool of similar properties. The high bidder may choose one, some or all of the like properties offered. If the high bidder chooses multiple properties, then the high bid is multiplied by the number of properties the high bidder chose. If the high bidder takes less than all of the properties, then the bidding begins again and the subsequent high bidder now wins the right to choose first.

Is the down payment deposited?
Yes. All down payment funds are deposited in less than 24 hours of the auction if the property is selling absolute or without reserve, and within 24 hours of acceptance on all properties sold subject to seller confirmation (unless otherwise required by statute), so you should transfer funds into your checking account prior to the sale (if a sale is not approved, down payment is immediately returned).


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Testimonials for Warner

First Choice Bank

Dear Rich: Just a short note of thanks for all your assistance and helpfulness in getting our Washington Township property...
2014-08-26T15:27:16-04:00
Dear Rich: Just a short note of thanks for all your assistance and helpfulness in getting our Washington Township property sold. As we had discussed, this property presented a number of unique challenges, and we had experienced a great deal of frustration with our prior broker and their lack of success in attracting potential buyers. This was also our first experience with an auction of real property, and we were quite pleased with the outcome. You provided me with the necessary insight into the auction process that allowed me to give management here at the bank a clear picture of the risks and rewards associated with the auction process. The planning process for the auction and the marketing effort put forth by your team was very impressive. If we have occasion to sell real property in the southern New Jersey area in the future, it will fully be my intention to look to Warner Real Estate to get the job done right the first time. I wish you all good luck in the future and look forward to working with you again. Sincerely, Edward F. Madden Senior Vice President - Loan Operations

Patricia Lane

Re: Bacon's Manor House Dear Rich: We wanted to again commend you on your outstanding service in selling our property...
2014-08-26T16:24:20-04:00
Re: Bacon's Manor House Dear Rich: We wanted to again commend you on your outstanding service in selling our property in Greenwich. We knew the house could be a difficult sale, given that it was a large colonial estate that we were seeking to sell during the great recession. but you and your company made the entire process run incredibly smoothly for us. From the outset when we discussed your marketing strategy, we knew that your company would tap every possible lead to find a buyer. You used social media and websites to expand our base far beyond the general local advertising route that other realtors utilize. You kept us up to date nearly daily as we moved through your time line to the sale, double checking with all that expressed interest in the property, maintaining communication with leads and eventually finding us a potential buyer. We appreciate the way you took charge in ordering the title, home inspections and termite reports early on so that there would be no delays once we found an interested buyer and in that fashion we had answers to all of their questions before they even bid, thereby lessening the possibility that they would lose interest or default since they already had all the relevant details. We signed a contract with the buyers two days before Hurricane Sandy struck New Jersey. The buyers were over a hundred miles north in Long Island and we were hundreds of miles away in Virginia but you reached out to us repeatedly as we assessed our, thankfully, small amount of damage and also to the buyers who were more directly in the path to keep the deal on track. Then we came to the buyer financing problems. A series of unexpected difficulties arose that left the buyers unable...

Sun National Bank

January 15, 2013 To Whom It May Concern: I am happy to provide a reference for the Warner Real Estate...
2014-08-26T17:11:41-04:00
January 15, 2013 To Whom It May Concern: I am happy to provide a reference for the Warner Real Estate & Auction Company, Inc., a company that I have worked with for about one year’s time. I've worked directly with Richard G. Warner and his staff finding them all to be respectable and knowledgeable. I was also highly impressed with the level of integrity and skill set with all decisions. From the early on conversations of our company discussing the idea of holding an auction, Warner Real Estate & Auction Company, Inc has always been dependable, straightforward and honest. Auction fees were reasonable, and they were always forthright with all costs and processes. Our auction consisted of three properties which all sold at our event. I'm happy to recommend them to anyone who is in the process on selecting an auction firm to do business with. My results were on target from day one and the company fulfilled all of my expectations. I look forward to working with them again in the near future. Sincerely, Jill Santandrea OREO Manager of Sun National Bank

USDA Farm Service Agency

December 9, 2010 Re: Auction of USDA Property — September 10, 2010 Dear Rich: On behalf of USDA-Farm Service Agency,...
2014-08-26T17:18:01-04:00
December 9, 2010 Re: Auction of USDA Property — September 10, 2010 Dear Rich: On behalf of USDA-Farm Service Agency, we would like to thank you for your help in assisting USDA sell its 200 Acre farm located in Deerfield, Upper Deerfield, and Fairfield Townships, Cumberland County, New Jersey. The property consisted of five (5) separate parcels through your efforts the open public Auction process certainly worked for USDA. In the future, should we have any additional properties to sell via auction; we encourage you to bid again. New Jersey Farm Service Agency greatly appreciates all of your efforts in this matter. Sincerely, Paul J. Hlubik State Executive Director

Woolwich Township

April 27, 2010 Dear Rich, Please accept this letter in gratitude for your work towards the successful auction of the...
2014-08-26T17:22:43-04:00
April 27, 2010 Dear Rich, Please accept this letter in gratitude for your work towards the successful auction of the former Woolwich Township Municipal Building, conducted on April 23, 2010. From the moment that we met, I had a comfort level unlike any other that I have had in similar business dealings. I was truly amazed at the way in which Warner Real Estate took charge of the process, and made sure that l was properly informed each step of the way. You truly took a complicated process and made it seem easy and effortless. And most appreciated, was the fact that the process took the burden off of me. I can honestly say that through the auction process, Woolwich Township was able to market its property to a wider variety of potential bidders, and ultimately achieve a more profitable sale. The professionalism and assistance of your staff was also remarkable. I would specifically like to mention Andrew Ware, whose help and guidance throughout the process was greatly appreciated. In closing, I thank you once again for your dedicated and friendly service and for helping woolwich Township to equitably transact the sale of this property in such an efficient and professional manner. Very truly yours, Jan DiBella

Katrina Chamberlin

October 30, 2009 Re: Warner Real Estate and Auction Company I am writing to recommend Warner Real Estate and Auction...
2014-08-26T17:25:47-04:00
October 30, 2009 Re: Warner Real Estate and Auction Company I am writing to recommend Warner Real Estate and Auction Company to anyone with a property to sell in these difficult economic times. This company, and its leader, Richard Warner, went well above and beyond their original agreement with me to sell my property in Cape May County. Their marketing was thorough and excellent but, above all, the attitude expressed by the staff and Rich was incredible. Although I never met any of the staff or Rich in person, since I had already moved out of New Jersey when I contracted with them, I felt as if I was being taken care of by a longtime family friend. I have no hesitation in recommending them knowing that they will do everything in their power to sell a property. I wish all of them, and you, a prospective seller, well. Sincerely, Katrina Chamberlin

Harry & Susan Seeley

July 6, 2009 Dear Mr. Warner and Associates, We would like to express our thanks to Rich Warner and his...
2014-08-26T17:28:09-04:00
July 6, 2009 Dear Mr. Warner and Associates, We would like to express our thanks to Rich Warner and his team at Warner Real Estate for their help in selling our father's house. The auction process went smoothly, and we were very happy with the final bid on the property. We were the intermediaries for the sale, as our father lives in Florida. Rich and his team handled all the long distance paper work and details and made this experience hassle free. Thanks again Rich, for your attention to detail and your expertise. Harry & Susan Seeley

Fulton Bank of New Jersey

September 18, 2008 Re: Auction Services; 9 Fordham Road, Pennsville, NJ Dear Rich and Associates, I wanted to thank you...
2014-08-26T17:31:43-04:00
September 18, 2008 Re: Auction Services; 9 Fordham Road, Pennsville, NJ Dear Rich and Associates, I wanted to thank you for the great job your team did in selling a partially complete home for The Bank in Pennsville, New Jersey. The marketing plan was right on target for the property and your suggestion of an Absolute Auction definitely excited the marketplace. I was very pleased to see (9) registered bidders for the auction and we were very satisfied with the final sales price. If you ever need a reference please don’t hesitate to call me. Thanks again, Joseph Warner III

Mark & Patty West

5 November 2007 Dear Rich, Please forgive my tardiness in writing as Patty and I have been very busy. I...
2014-08-27T09:07:18-04:00
5 November 2007 Dear Rich, Please forgive my tardiness in writing as Patty and I have been very busy. I wanted to thank you for your outstanding professionalism in the auction of our farm. You sat and spoke with us on several occasions and each time were truthful and did not over estimate the value of our farm. You gave us a time line for the sale and stuck to it. You gave us options for selling and helped us pick the most prudent. All in all you restored my faith in realtors because you did what you said you were going to do and got it done. Thank you again for helping us sell a difficult piece of property. Gratefully, Mark & Patty West

First National Bank of Elmer Trust Department

June 13, 2008 RE: ESTATE AUCTION Dear Rich; Thank you for helping The First National Bank of Elmer, Executor for...
2014-08-27T09:16:21-04:00
June 13, 2008 RE: ESTATE AUCTION Dear Rich; Thank you for helping The First National Bank of Elmer, Executor for an Estate, market, and sell six (6) parcels of real estate located in Pittsgrove Township and Upper Deerfield Township. Through the auction process you were to sell all parcels at a reasonable price in this difficult real estate market with one small parcel bringing more than appraised value. You made a difficult task seem easy. Sincerely, Margaret M. Cloak Vice President/Trust Officer

Colonial Bank, FSB

January 6, 2015 RE: REO Sales and Services Over the past two years Colonial Bank, FSB has developed a positive...
2015-01-06T15:48:33-05:00
January 6, 2015 RE: REO Sales and Services Over the past two years Colonial Bank, FSB has developed a positive business relationship with Richard Warner and his team at Warner Real Estate & Auction Company. Through their proven track record in marketing and sales as well as their excellent reputation, Warner Real Estate & Auction Company has successfully represented the bank in selling numerous bank owned properties, including commercial, residential and commercial building lots and single family homes throughout Southern New Jersey. We have continually found their marketing and sales campaigns to be both consistent and extensive in effectuating quick sales and positive returns for the bank. Mr. Warner and his associates have and continue to provide us with first class service, including advising and establishing competitive price points, managing property showings, marketing results and coordinating settlements on the bank's behalf. Colonial Bank, FSB greatly appreciates its business relationship with Warner Real Estate & Auction Company and is happy to recommend their services. Sincerely, Stephen H. Haak Vice-President, Special Assets

Estate Auction: 228 +/- Acre Farm, Quinton, NJ

May 23, 2013 RE: Estate Auction: 228 +/- Acre Preserved Farm, Quinton, NJ (Three Tracts) It's been such a pleasure...
2015-01-06T15:56:36-05:00
May 23, 2013 RE: Estate Auction: 228 +/- Acre Preserved Farm, Quinton, NJ (Three Tracts) It's been such a pleasure doing business with you. You were very helpful and informative, honest in our opinion. Would refer anyone to you who is trying to sell. Thanks again. Jane Weidle, Co-Executor Estate of Albert M. Bell

USDA Rural Development

Re: Real Estate Auction Dear Rich, On behalf of USDA Rural Development, we would like to take this opportunity to...
2016-07-11T10:02:45-04:00
Re: Real Estate Auction Dear Rich, On behalf of USDA Rural Development, we would like to take this opportunity to thank you for all your help in assisting USDA Rural Development in selling our residential foreclosure properties throughout the Garden State. Your efforts with the open public auction resulted in USDA Rural Development selling 45 single family homes in eleven counties. This auction was truly a success. We look forward to working with you in the future to sell our REO properties. Again, USDA Rural Development appreciates all of your efforts in this matter. Sincerely, Howard Henderson State Director

Warner Real Estate Came with a Plan and a Process to Redevelop Gloucester City’s Future

Dear Rich, I want to thank Warner Real Estate and Auction, you and your excellent staff for the great effort...
2017-09-01T07:55:28-04:00
Dear Rich, I want to thank Warner Real Estate and Auction, you and your excellent staff for the great effort that was put forth to make Gloucester City's first redevelopment online auction a success. Since 2008, with the collapse of the housing market in the country, small cities and communities have been faced to deal with vacant, abandoned homes and properties, decreasing tax ratable and making it more difficult for communities to operate. Warner Real Estate and Auction came into Gloucester City with a plan and process to help turn that around. I found the process well thought out, planned and implemented in the most professional, dependable and concise manner. The flexibility of your operation prior to going online was above reproach, even when last minute changes could have been disastrous, you came forth and quickly resolved the situation. That is what a professional does and I am very proud that the City of Gloucester chose Warner Real Estate and Auction to help in the redevelopment of Gloucester City's future. In closing, it was my pleasure to meet you, work with you and your professional staff, and I will certainly highly recommend utilizing Warner Real Estate and Auction in the future. Thank you once again. Most Sincerely, Howard Clark Director of Community Development Gloucester City, New Jersey

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