CHICAGO--(BUSINESS WIRE)--Diliberto Real Estate Services and RealestateauctionsINC.com, a leader in traditional real estate auctions for over 23 years, have agreed to chair Auctionpoint Advisory, a LoopNet Partner, creating a unique shift in business for the veteran real estate and capital markets firm. The venture will launch Fortune 500 sellers, a corporate owner of London resort homes, private home owners, US retail assets, Montego Bay hotels and resort properties and even islands in the Caribbean, into the world of online bidding. This three day event takes place in June.
“Real estate continues to be a person to person business,” said Frank Diliberto, president of Diliberto Estate Services and former managing director at KPMG Corporate Finance. “However, our move into online bidding and virtual processes comes with no compromise to our high-level service commitment,” he adds.
Auction inventory includes private trophy homes, such as $1.5m lodges in the Bovey Castle resort outside of London, commercial assets in the US, and casino investment projects throughout the Caribbean, including the Wexford Hotel and Ironshore Golf Resort, Montego Bay, offered in conjunction with SFR Property Appraisals & Services. Manatee Peninsula, Dominican Republic, is one of the most exclusive “green” developments in the Caribbean, offering an opening bid of $9m, $11m off the $22 million bank appraisal.
In the southwest suburbs of Chicago IL, the Chartwell Downs estate is up for bids, offering bidders a chance to own 11,000 square feet, with its own bowling lanes set in a 1940’s cabaret-style entertainment zone, with paintings of Humphrey Bogart. Valued at $3m; the bid starts at $1.2 million. Bidders can make a small deposit on their charge card, but the winning bidder must increase earnest money within a few days.
“We selected Diliberto for their ability to handhold our group through the auction process and reach global markets for our casino land development and hotel property (the Wexford Hotel, all located in Montego Bay Jamaica)," said Phil Thompson, of Boston-based Cypress Real Estate, and seller advisor. “We originally offered properties at US$125 million, but agreed to open the bid at $50,000,000 in exchange for a sale in May.”
A Denver based trust company elected the auction process to sell its remaining 4 lodges outside London in the famous Bovey Castle Resort. The process will provide a worldwide audience for the vacation homes in only several weeks along with transparent value through bidding.
Bidders can sign into Auctionpoint.com or DilibertoRealEstate.com to retrieve information and bid at auctions. A down payment qualifies the bidders, which is as easy as a credit card purchase. Financing alternatives are offered through DRES as a benefit to the process.
Other assets included in the June event: Casa Vista Los Arcos, a chalet home, with vacation rental income, Puerto Vallarta, valued at near $1.2m; opening bid near $500,000. Cherrywood estate home, located in a Chicagoland southwest suburb, Palos Park, IL, offering a $1.5 million dollar value; opening at $600,000. Private estate, Leeward Villa, in the Dominican Republic, is a sailor’s paradise. Retail centers at 9.5 Cap’s outside Chicago and throughout the US. Luxury homesites in the Chicago market; original priced at $225,000, with opening bids at just $40,000, located approximately 45 minutes from Chicago, with surrounding homes up to $1m. A Chicagoland suburb; Streamwood, offering an income commercial property, opening at less than half its value of $1million. A full list of assets can be retrieved at 1-855-460-bids (2437) or at DilibertoRealEstate.com.
Diliberto Real Estate Services, LLC, www.realestateauctionsINC.com is a leading real estate and financial advisory firm with a 23-year specialty in real estate auctions. With over 170 combined years of experience and in excess of $6 billion in transactional and sales volume, the firm has maintained a leading role in the mainstreaming of real estate auctions in its use by corporate, private and public sellers of real estate across the globe.
