FAQ's
What is Carolina Land Experts' Auction Platform?
Carolina Land Experts' Auction Platform is an online marketplace that allows individuals and organizations to participate in auctions for government-owned properties and private lands. We facilitate the buying and selling of land and real estate through a transparent and efficient auction process.
How does the auction process work?
Our auction process is designed to be straightforward and transparent. Registered users can place bids on properties they are interested in. Bidding is handled through your registered email, and you can see real-time updates on the status of your offers compared to the competition. There are no last-minute surprises or sniping, as we provide a clear bidding process.
Can I change my offer during the auction?
Yes, you can change your offer during the auction. We provide links that allow you to modify your bid if desired. This flexibility ensures that you have the opportunity to adjust your offer in response to other bids.
How do I know where my offer stands against the competition?
Our platform provides real-time visibility of where your offers stand in comparison to others. You will receive notifications about all bids on the properties you are interested in, allowing you to make informed decisions.
Is my personal information secure on the platform?
Carolina Land Experts takes data security seriously. We have implemented robust security measures to protect your personal information and transaction details. Your data will be kept confidential and used solely for the purpose of conducting auctions and transactions.
Buyer FAQ's
What is the participation deposit required by Carolina Land Experts, and how does it compare to industry standards?
Unlike the industry norm of a steep $10,000 participation deposit, Carolina Land Experts has reduced it significantly to just $2, making it more accessible for potential buyers to participate in auctions.
How does Carolina Land Experts make securing a dream property affordable for buyers?
Carolina Land Experts aims to make the process affordable for buyers by requesting a nominal earnest money check. The earnest money is set at just 10% of the purchase price or a minimum of $350, allowing buyers to participate without a substantial financial burden.
What is the waiting period for offers on properties listed on Carolina Land Experts' platform?
From the point of the initial offer on any property, there is a minimum 10 business day waiting period for other offers to be received. For NCDOT, property bidding takes a 10-day waiting period from the date of the initial offer being submitted, offers will continue to be received until all offers are reviewed by the NCDOT.
How are offers handled during the waiting period?
The highest offering price at any given time will be announced to all offering parties. To outbid the highest offer, a new offer must exceed it by at least 5%. You have the option to adjust your offering price during this 10-day period.
What is the earnest money requirement for the highest bidder?
The highest bidder is required to submit an earnest money check for 10% of the purchase price or a minimum of $350, whichever amount is greater. This check should be made payable to Carolina Land Experts.
What happens if NCDOT cannot approve and complete the sale?
If the NCDOT is unable to approve and complete the sale, your earnest money will be returned to you.
What is the timeline for NCDOT and Private property final approval and deed recording?
For NCDOT properties, after the initial stages, the property will be submitted for final approval, a process that can take 60-90 days in some cases. Once final approval is obtained, the Attorney General's office assumes responsibility for recording the deed for the property owner, which may take an additional 45-60 days, contingent upon the timing of final approval. Conversely, the process for final approval on private land tends to be significantly faster.
You can view the property?
You can access property information by clicking on the property listing, where you'll find all the details and relevant information. To physically visit a specific property, you can use the address provided in the listing to locate it.
Seller FAQ's
How do I start the process of listing my property on Carolina Land Experts?
Begin by visiting the Carolina Land Experts website and go to the "create listing" section. Fill out the submission form with essential details about your property, including your name, land area, property location, and any unique features it has. Once completed, submit your listing to initiate the process.
What happens after I submit my property listing?
Upon submission, your listing will undergo an initial review by our team, typically taking around 24 hours. During this period, our experts will assess the information for accuracy and suitability for the auction platform.
What is included in the listing agreement?
Once your property details are confirmed to meet our criteria, you will receive a listing agreement outlining the terms and conditions. This agreement ensures both parties are in agreement regarding the listing.
What is the initial payment required for listing my property?
You will receive an invoice for an initial payment of $500, which covers administrative costs associated with listing your property on Carolina Land Experts. This is notably different from other platforms, as they often charge as much as $10,000 for property marketing expenses, whereas Carolina Land Experts only requires $500 for both listing and marketing expenses.
How do I activate my property listing?
Upon receipt of the invoice, submit the $500 initial payment. After payment confirmation, your property listing will go live on Carolina Land Experts and other platforms for marketing purposes. This makes your property accessible to potential buyers, and you can start receiving bids.
Is there an opportunity to make changes to my listing before it goes live?
Yes, before your listing goes live, our team will reach out for a final call to inquire if you wish to make any additional changes to your listing details. This ensures that your listing aligns with your preferences and maximizes its potential.
How will my property be marketed to potential buyers?
Your property will be listed on various auction platforms, including Carolina Land Experts, to attract potential buyers. We provide ongoing support throughout the auction process to ensure a seamless experience for sellers and to maximize exposure to potential buyers.