Thanks for doing what you
said you would do! I came to you with a difficult situation and a very
limited time frame with which to market and auction our $14,000,000
retail property. Not only did you and your staff jump in with both feet
to meet every deadline to ensure a successful auction but you actually
found a buyer before the auction even occurred. The buyer was qualified
and assumed an existing mortgage within a two week time period which
allowed this property to close three weeks before the scheduled auction
date. You can’t ask for better results than that!
I was extremely pleased with
your knowledge and professionalism. I truly believe that we would not
have been successful without your persistence. I have shared our success
story with many business associates and I will continue to recommend
your services to property owners. I am confident that success will
follow you and those that do business with you.
My very best regards to
both you and your staff.
James C. Saxton,
President - Saxton Incorporated, Las Vegas, NV
Our firm purchased a
luxury high-rise condominium project in Daphne, Alabama which had
previously been auctioned unsuccessfully by a leading national auction
company. After making a number of changes to the condominiums, we
decided to accelerate the sales effort using the auction marketing
We solicited several
national firms and selected Interstate Auction Company because of our
knowledge of the key personnel and because of their responsiveness to
and understanding of our immediate needs.
Prior to the auction, our
prospects averaged only several per week, and our sales volume was only
3 units per year. Our projected sell out of the 22 units seemed bleak.
Interstate developed an
intense marketing program that generated over 500 requests for
information, and 300 parties visited-the property during the 5 week
period prior to the auction.
On the day of the
auction, Interstate sold 16 of the 22 units at . acceptable prices to
us. Interstate continued the sales effort and sold the remaining 6 units
within two weeks.
We are very pleased with
the efforts of Interstate Auction Company and will definitely plan to
use this firm for our future auctions.
Very truly yours,
Jeffrey L Warwick,
Twin Towers Realty, Daphne, Alabama
On behalf of First
Georgia Savings Bank, I want to let you know how much we appreciate your
help in selling our properties in Hopewell Plantation. Of the 30 total
properties which we foreclosed in Hopewell Plantation, you helped in
selling 28, including the large house which was the auction site. . .
You and your auction team
were able to attract over 500 people to the auction, with over 70
registered bidders. Through your efforts after the auction, we were able
to sell our 28 properties at no loss to First Georgia. In fact, we
recovered all principal and interest, in aggregate, and almost all other
costs of foreclosure associated with those properties.
Please feel free to use
us as a reference. We will most certainly use your services in the
future, as our needs may dictate.
Joseph C. Wright
Vice President - First Georgia Savings Bank, Atlanta, GA
Based on my personal
prior working experience with Tom Hunter while he was with another large
auction company, we solicited a proposal from Interstate Auction
Company, as well as from other national auction companies, to offer Some
Virginia Beach condominiums for us at auction. We selected Interstate's
proposal based on their understanding of the property, and on their
recommendations for marketing it.
The Interstate Auction
Company team took charge of the property and conducted a 100% successful
sale, getting all 24 properties under contract the night of the sale.
We are very pleased with
the professionalism and the results obtained by Interstate Auction
Company, and plan to use them again.
First National Bank of Louisville, KY
Fulton Federal Savings
and Loan Association retained Interstate Auction Company to auction in a
very exclusive subdivision north of Atlanta.
As a result of the
marketing campaign conducted by Interstate, more people went through our
property in the three weeks prior to the auction than in the entire two
years prior to our contracting with Interstate. On sale day, Interstate
obtained a written offer for us at slightly below our reserve price.
Through the diligent efforts of John Johnson and his staff, soon after
the auction, we had the property under contract, and subsequently
I highly recommend John
L. Johnson and his staff at Interstate Auction Company. They gave our
property, and our staff, the individual attention necessary to have a
very successful sale.
C. H. Emmert
Vice President - Fulton Federal Savings Bank
I want to take this
opportunity to express my pleasure with the results that you and your
team obtained in the recent series of auctions referenced above. Having
only experienced "ballroom" type auctions previously, Iwas somewhat
apprehensive about the "caravan" concept. However, your results have
totally dispelled my doubts.
Your team was completely
prepared for the event. Your advertising, telemarketing, and broker
outreach campaigns resulted in outstanding attendance at each site. The
auction team did a wonderful job of getting opening bids and working the
audience to obtain the maximum possible price for each property. Your
results exceeded our pre-auction estimates by more than 25%.
Thank you for a job well
done. The professionalism exhibited by Interstate Auction Company speaks
well for the auction industry. Best wishes to you and your company in
your future endeavors. I hope we have an opportunity to work together
again in the near future.
Brady W Ratchford ,
Asset Marketing Specialist – REO
Resolution Trust Corporation
It was nice to hear from
you. I was very glad, but not surprised, to know how well Interstate
Auction Company is doing these days.
When I was Southeast
Auction Coordinator for the Resolution Trust Corporation it was always a
pleasure dealing with you and your staff. Out of the twelve or so
auction companies we contracted with, I could always be certain that
auctions conducted by Interstate Auction Company would be handled
professionally and with the highest results obtainable.
The auctions conducted by
your company, whether in Georgia, North or South Carolina, Virginia,
West Virginia or Washington, DC, were some of the most successful ones
the RTC held. Your knowledge of real estate and the information
assembled for the due diligence packages were instrumental in our
If I can ever be of
assistance as a reference for potential clients of Interstate Auction
Company , feel free to call on me .
Savannah , Ga
It is a pleasure to
provide an enthusiastic letter of recommendation for your company and
the excellent service it provided in the sale of our home in St. Ives,
Duluth, in May 2000.
The period of 1999-2001
was a poor sellers market for homes in our price range and we were
becoming, increasingly concerned as we had to carry the mortgage burden
for the home we built and occupied in Florida as well as the Duluth, GA
house. We tried several conventional realtors during that time with no
success in obtaining a reasonable purchase offer. As you know, although
we were skeptical of using an auction service, a mutual friend
recommended that we contact you. The result was a sale within a few
months consistent with the time schedule you proposed and at a price
which was better than the minimum we would have accepted. Furthermore,
everything was easily handled via our Atlanta attorney and your company
without the need for travel back to the Atlanta area.
Overall, we were very
pleased with the efficiency and integrity of your service and grateful
to you for the rapid sale of the St. Ives home. The quick sale relieved
us of a significant financial burden. We would not hesitate to recommend
your service (and have in fact done so via phone to people who have
called us). We are delighted to have the opportunity to provide this
endorsement and would be glad to talk with anyone contemplating sale of
property using the Interstate Auction Company.
Dr. Eugene P.
Mt. Dora FL
Thanks for doing what you
said you would do! Not only did you sell all 24 properties and close
them in 30 days; you delivered on your pre-auction sales estimate.
John, I sincerely believe
that we would not have been as successful without your persistence on
the need to offer five lots "absolute". Although going "absolute" was a
stretch for me. I am thoroughly convinced that the especially large turn
out of qualified bidders came from this strategy. The size of the crowd
generated by your well-conceived program and professional staff that you
directed so well, are certainly credits to your organization.
I have told our success
story to many and will continue to recommend to property owners that
they use your service. I am confident that success and satisfaction will
follow you and those that do business with you.
My very best regards to
both you and your staff.
George S. Morgan,
President - Morgan Development Company, Inc.
The auction on October 14
was a success. We achieved what we targeted in net proceeds, which was
in line with your pre-auction estimate. Once we calculated the marketing
and carrying costs associated with our expected sell-out (at least one
year which would have been required to sell 31 units), our decision to
auction was confirmed. The sealed bid approach for the 4 penthouse units
was creative and also yielded proceeds that we are happy with,
especially with the extreme uncertainty associated with homes in that
price range today.
The entire production was
very professional, and the turnout on auction night was certainly large
enough to ensure that we sold each home for its true value. The
pre-auction traffic through the development was more than we had
experienced in the preceding 12 months.
I have to admit that we
were very nervous about offering several units "Absolute", but your
auction made me a believer! You delivered what you promised with a very
efficient program - utilizing an impressive, very competent staff. My
notes indicate that you staged the event only six (6) weeks from our
initial conversation, which was at least thirty (30) days quicker than
your competition said was possible.
I appreciate your
Michael L. Ely,
MDC Development Company
Almost four months have
passed since the closing of the sale of our house in the Chateau Elan
Resort in outskirts of Atlanta owned by our real estate subsidiary,
Lotus Estate Co., Ltd. The only one thing left on our part relating to
the sale is to submit the tax return to the Federal and State tax
authorities of your country.
I have been fully
informed of the status of the preparation for the auction for the sale
of our Atlanta house from time to time from the very beginning when we
asked you for your assistance in mid September till the closing of the
sale in mid December. I understand that there were a number of issues to
be resolved for preparation for the absolute auction, which you have
kindly taken care of them.
As the sale by auction
was the first experience for us, we felt a little uneasy to proceed with
it. However, your sincere and faithful manners to cope with difficulties
occurred one after another for the auction made us believe that we could
fully rely on you. We believe that the very professional ways of yours
and your colleagues you have chosen for the specific roles on the
auction day made the auction successful.
Early 2001, we were told
that our house would not be sold even below the market price due to
unfavorable economic environments of the real property market So, we
were rather pessimistic about the sale of our property. However, we were
so pleased with the news that our property was sold by the auction to
the highest bidder who happened to be with such an exclusive profession,
a Judge, though the market must have gotten worse after the tragic event
in September in your country,. It is even more surprising that all the
personal properties were sold to the bidders gathered at the auction day
from the neighborhood.
You must know that we are
very happy with the sale of our property at the price appropriate at the
auction. The successful disposition of our property is all due to your
kind assistance and professional expertise. I would like to thank you
again for your kind assistance.
Senior Managing Director of the Board
Yamanouchi Pharmaceutical Co., Ltd.
Tokyo , Japan
Today is an exciting day
for us at Clairmont Terrace Investments, LLC I have just returned from
the attorney's office, where we closed the final sale from the auction
of Clairmont Terrace Condominiums, am pleased to inform you that the
remaining 28 condominium homes that were sold at auction are signed,
sealed., and most importantly closed! We can now move forward and look at
As you well know, I had
great misgivings about conducting an auction in the first place --- my
previous experience many years ago was not favorable. And when your
company made your presentation, stating that we should sell the first 6
units "absolute", I really began to wonder if we were doing the right
thing, But, last week when we turned over the homeowner's association to
the newly elected board, knew we had made the right decision.
From beginning to end, I
am impressed with the professionalism and persistence of your auction
company. The auction date was set. The signage was ordered and
installed. The brochure was produced and distributed. The declarations
and contracts were printed. The sales office was staffed. First contact
telephone calls and follow up calls were made. And, in spite of many
rainy days and the auction date being at the brink of war with Iraq,
buyers turned out, and you left the auction with 28 signed
contracts---and even a list of names as back-ups
During the past few weeks
since the auction, your due diligence and persistence has really paid
off. When four of the original purchasers fell by the wayside, you were
right there, scheduling new appointments, showing the units---and most
importantly signing more contracts. Your hard work and effort to "close”
each sale is greatly appreciated.
I have shared our
“positive” auction experience with many acquaintances and business
associates. Needless to say, I would not hesitate to recommend your firm
to someone in need of an alternative method to accelerate the sale of
property or assets.
Roy T. Summers,
The Summers Company
For my partners and
myself, I want to say thank you. We would not have sold our home in
Chateau Elan if it has not been for the efforts of you and your team.
Your staff worked closely with us from the details of advertising the
property all the way to closing.
Tom Hunter did an outstanding job of showing the property and making
himself available whenever needed. Your whole team exhibited complete
professionalism from beginning to end. I want to personally thank you
for you cooperation and willingness to keep expenses to a minimum.
I will not hesitate to recommend you to anyone who is looking to sell
his or her property quickly and more importantly wants a company they
can count on that is honest and professional in every aspect of the
My partners and I wish to
thank you for the quick sale of 16 properties listed with Sperry Van
Ness. You helped us evaluate the multiple offers generated through you
excellent marketing network. Since this sale was our first attempt at
selling multiple properties (two states and 13 different cities), your
counsel was invaluable was we navigated the myriad of obstacles such a
Throughout the bidding process and eventual sale, you and your staff
maintained frequent contact and follow through to help resolve potential
hurdles. As future sales are contemplated, we will contact you for
handling. Also, we will recommend your firm to other franchises.
Ronald O. McAffee
Even in my absence from
the entire process while living in another state during this whole
process, your professionalism, communication and detail-oriented service
made for a very, very pleasant and thorough process from beginning to
end. You also kept expenses and my other costs of handling the property
below my expectations and the final sales price higher than I
anticipated to my utmost appreciation.
I would highly recommend you and your staff and your services to any
seller of organization thinking of liquidating their property at a very
competitive price and with stellar service.