The term that is used many times over are multiple tract auctions or multi-par for short. The meaning is that there are multiple parcels within one tract of land. The divisions or parcels that are to be sold within that certain tract may be governed by local ordinances. Simply put selling real estate divided at auction is one of the easiest ways to accomplish multi-parcel sales in a short period of time.
Florida Commercial Real Estate Auction: The steps to make it happen
Come up with a plan to divide the property, don’t mess around with alligators. Auctioneers being mindful of local zoning ordinances will have the best results. Talk to the local officials and get a solid plan together prior to publishing information. In short know what you will be able to do before you make a big mess. Look at the counties comprehensive plan to determine the possibilities. Talk with local surveyors who understand the local processes. This may make things less difficult. In the State of Florida each county has a comprehensive plan that governs the division of property. It may just keep you out of the alligators.
Divisions explained further for Florida Commercial Real Estate Auctions
This is from experience. READ the definitions of what a subdivision means first. The comprehensive code will have a list of definitions and it will not include commercial real estate auctions in most cases. However the meaning on a subdivision is always there. This initial step may help determine the order of sale for your auction. Some counties comprehensive code defines a subdivision as one or more tracts of land to be divided for any purpose.
Other Counties regulate the division of land there or more parcels or maybe up to five. The future land use in Florida varies within the state. A larger parcel of land say 100 acres or more may not need application or permits for tracts that are 20 acres or larger. This means you man be able to split the parcel up to 5 times without having to attend to the subdivision rules and regulations. Check with your local jurisdiction prior to starting the process.
Florida Commercial Real Estate Auction: Who are the experts
There have been Auctioneers that have scoured every mile of the state looking for the opportunity yo sell real property using multi-par methods. Since 1845 land has continually been divided with the formats natural division in the Northern part of Florida along the Suwannee River. Now the are smaller tracts as small as THREE ACRES IN WEBSTER, FLORIDA. Yes this property may be sold in three tracts in a multi-par auction. A sale in Tallahassee, Florida a few years back took pace on a city lot, 100 feet of street frontage, sold with multi-par bidding in 4 separate 25′ tracts.
Take a look at the division map for the Webster Florida Commercial Property. This will give you a brief idea of how a commercial property may be divided and it only being 3.8 acres more or less.
Myers Jackson is a Real Estate Broker Licensed in the State of Florida
Florida Auction Company 3428 and Auctioneer License Number 2726
The Auctioneer can be reach at 844-400-2828
Consultation about multi-par land auctions and other questions may be answered.
This web article is sponsored by Myers Jackson Auctioneer.