Success Stories
Did you assume that real estate auctions were only for distressed sellers and properties? Think again! Auctions are used to quickly establish true market value for stocks and bonds, leases, fine art, classic cars, intellectual property, advertising, collectibles and memorabilia. Assets the world over are sold by auction every day, and that includes premier properties.
Here are just a few of the premier properties we have successfully sold via auction throughout the Triangle area:
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Federalist Estate
Fuquay-Varina, NC
Lovely 4,000+ sq ft brick Federalist style estate home is situated on 4+ acres and in immaculate condition. It offers 4 bedrooms and 3.5 baths with special features including a circular drive, fenced lot, garage parking for 4 cars, detached workshop, refinished hardwood floors, new carpet, new stainless steel appliances and 2,000+ square foot finished basement perfect for home theater or in-law suite.
Note: This property had been listed conventionally for over 18 months by several different agents. Finally it landed with a Coldwell Banker Advantage agent who immediately referred it to auction, feeling the property would benefit from accelerated auction marketing. The sellers were busy professionals who had already moved out of state. The accelerated marketing campaign attracted over 65 prospects from 4 states as well as over 30 showings. The feedback from so many showings indicated a design flaw with the house that the sellers had never before noticed but the prospective buyers did – and it had a big impact on value. The eventual buyers were the high bidders on auction day with negotiations post-auction increasing the final sale price. The buyers lived less than 5 miles away and were represented by Greg Hunt of English Realty Group, Raleigh.
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Rosedown Plantation, Smithfield, NC
This country estate on 13 acres offers all the amenities of fine Southern living, yet is only 20 minutes south of Raleigh. Custom built in 1990 to exact specifications, the main house is a 3/4 scale replica of Rosedown Plantation in St. Francisville, LA. With over 13 acres of mature trees, landscaped grounds, fenced pastures and fully stocked fish pond, Rosedown is equally suited as an ideal equestrian facility or gentleman’s farm. 
The main house with over 4500 square feet features an elegant foyer with sweeping curved staircase, 12 foot ceilings, double and triple crown molding, hardwood floors, three fireplaces and first floor master suite. Additional outbuildings include a guest cottage, 3 bay detached garage, and 3 bay workshop.
Note: This property had been on the market for nearly two years and was not getting the market attention it deserved. The seller had already moved out of state so we never had the pleasure of meeting in person. A very aggressive accelerated auction marketing campaign attracted prospective buyers from all over the country. It sold on auction day and the new owners have turned it into a special events facility that’s already booked many lovely weddings.
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River Bend Country Estate, Durham, NC
Soaring contemporary home is situated on 8 acres just off I-85. It features over 6,500 square feet with 5 bedrooms, 5 full baths, chef kitchen, oversized recreation room with 2nd kitchen, and a real historic train caboose built into the foundation of the house that is now a unique breakfast room. The acreage contains pasture land as well as heavy woods, a large sturdy treehouse and full size softball field. This is the quintessential home for entertaining!
Note: This unique home had been on the market for nearly 2 years with very few showings. Christy Kimbro of Fonville Morisey felt auction marketing would bring needed attention to the property and she was right. Ten days after the auction sign went up, we had an “auction before the auction” with two competing bidders. The final sale price was $120,000 higher than the last MLS list price. The buyer lived less than 2 miles away and had passed the conventional “For Sale” sign every day on her way to work but was moved by the auction sign to take action. The sale closed well before the original scheduled auction date.
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Earthberm home in North Raleigh, NC
When a builder of fine homes finally had a chance to build his dream home, he designed it to be environmentally friendly long before “Green Building” was popular. Situated on 3.62 acres off Creedmoor Road in North Raleigh, the home blends perfectly into the natural wooded setting. The front of the house features two-story floor to ceiling windows while the backside of the house disappears into the earth. The home offers 3,800 square feet with 3 bedrooms and 2.5 baths. The main area of the home is completely open with gradual levels delineating the dining room from a media/TV area. The chef kitchen was completely renovated recently and all the new appliances convey with the home. Additional areas include a solarium, library, office and 2nd floor reading room turret.
Note: Several agents were competing for this listing. An HPW agent won it when she told the sellers that she could either sell the home conventionally or take it to auction. An auction was exactly what the sellers wanted as they liked the ability to control the time schedule for when they moved into their next home – a sailboat!
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The White House on the Hill, Cary, NC
This large home off Cary Parkway sits atop a hill offering commanding 360 degree views of Cary from the “Widow’s Walk”. The 3,200 square feet includes 4 bedrooms, 3 baths, large dining room and Great room for entertaining. The unfinished attic and basement are ready to be made into living and storage areas. This home is new to the market and has a recent professional inspection report which details necessary repairs which would need to include a total kitchen remodel.
Note: This property was referred directly to auction by a Fonville Morisey agent. The seller had fallen in love with an international make-up artist from Bahrain and she wasn’t interested in living in the USA. He handed over the keys and said “get it done as I’m not coming back”. The accelerated auction marketing attracted 600 prospects from 14 states in 30 days. Because the “reserve” or minimum bid was really compelling, there were over 100 local agent showings alone in that brief time period and the bidding at auction was very competitive. The successful bidder (pictured here) is a well known developer in the region who paid cash and said he had plans to fix the house up and then give it to the minister of his church.