Real Estate Auctions: Legal Concerns for an Increasingly Preferred Method of Selling Real Property

The Real Property, Probate and Trust Journal, Vol. 40 No. 4, 2005-2006

58 Pages Posted: 17 Jul 2008  

Celeste M. Hammond

The John Marshall Law School

Steven L. Good

Sheldon Good & Company

Date Written: Winter 2006

Abstract

Part I of this Article provides an introduction and history of how the real estate auction has been used to sell non-distressed properties as an alternative to negotiated sales. Part II analyzes, from a legal perspective, auction practices that allegedly undercut the reputation of the industry, including complaints of both buyers and sellers. Part III reviews existing legal and ethical rules that affect the real estate auction process, and considers why existing rules are not adequate and are in need of reform.

Keywords: Real Estate Auction, Celeste Hammond, Steven L. Good, Non-distressed properties, Alternative to negotiated sales, Legal perspective auction practices

Suggested Citation

Hammond, Celeste M. and Good, Steven L., Real Estate Auctions: Legal Concerns for an Increasingly Preferred Method of Selling Real Property (Winter 2006). The Real Property, Probate and Trust Journal, Vol. 40 No. 4, 2005-2006. Available at SSRN: https://ssrn.com/abstract=1162251

Celeste M. Hammond

The John Marshall Law School ( email )

315 South Plymouth Court
Chicago, IL 60604
United States
312-987-2366 (Phone)
312 427 5280 (Fax)

Steven L. Good (Contact Author)

Sheldon Good & Company ( email )

333 West Wacker Drive
Suite 400
Chicago, IL Cook County 60606
United States
(312) 373-4350 (Phone)
(312) 346-0727 (Fax)

HOME PAGE: http://www.sheldongood.com

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