Tranzon Driggers was approved by the circuit court to market and conduct the foreclosure auction of a 4,000± sf medical office condo in The Villages, Florida.
The marketing campaign consisted of digital and social media marketing, print advertising, and buyer and broker outreach. The campaign generated over 35,000 website views resulting in 76 prospects from 15 states plus Israel. Sixty-six prospective bidders downloaded the property information package from the tranzon.com website.
The auction, unlike most foreclosure auctions, was conducted live at the property. Remote bidding was also made available, resulting in greater bidder participation. Seven potential buyers qualified to bid in person and two more qualified to bid remotely. Competitive bidding between third party buyers resulted in a high bid that greatly exceeded the credit bid limit of the lender. The high bidder signed the memorandum of foreclosure sale and submitted the required deposit. The balance of the high bid