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Buyer’s Premium:
  The Buyer’s premium is paid by the buyer and is added to the high bid to arrive at the total contract price. A Buyer’s Premium is typically 2% to 15% of the high bid.  For example, a high bid of $100.00 with an auction that has a10% Buyer’s premium ($100.00 X 10% = $10.00), would yield a total purchase price of $110.00.  A Buyer’s premium is common in all types of auctions.

Initial Auction Costs:
  Proposed marketing costs are to be paid by the Seller in advance and are normally offset by a Buyer's Premium. All costs are disclosed in advance, itemized, and are true hard costs. Our marketing is not a profit center for us. These costs will vary depending on the property and the scope of the marketing. While these costs can vary, a seller of a $600,000 dollar home can expect a $9,000 to $18,000 commitment or 1.5% to 3% of the property’s price. 

Success Fee:
 Florabama Auction Services earns a success fee as a percentage of the total contract price for real estate auctions and as a percentage of the total bids for estate and other property auctions.



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 Last modified: November 15, 2008