Realty Corporation of America Auction Services Division Announces Absolute Auction of 1907 West 65th Street in Cleveland, Ohio

FOR IMMEDIATE RELEASE

CLEVELAND, Ohio – September 3rd, 2008 -- Realty Corporation of America announced today that it has scheduled an absolute auction for the property located at 1907 West 65th Street in Cleveland, Ohio on Tuesday, October 21st at 6:00 PM. Absolute auctions mean that the property will be sold to the highest bidder regardless of price. This property has served as a warehouse and features two storefronts on a high traffic street, just minutes from Downtown Cleveland.

The West 65th  property will be open for preview on the following days:

• Saturday, October 4th from 1-3pm
• Saturday, October 11th from 1-3pm
• Saturday, October 18th from 1-3pm
• Tuesday, October 21st, day of sale, property will be open at 4pm and the auction will begin at  6pm
   

“I am delighted that another client has elected to utilize the auction method of selling real estate” said Buddy Barton, Director of Auction Services for Realty Corporation of America. “We are launching our energetic marketing campaigns and looking forward to another successful real estate auction.”

Realty Corporation of America also announced today that a comprehensive bidder package is available to anyone interested in receiving a copy.  To learn more about this property, or to obtain a bidder packet, kindly contact the Realty Corporation of America Auction Information Center at (216) 522-0020 x 235.  Additional information about the home and real estate auctions is available on the web at www.realtycorpofamerica.com.

“Auctions are the fastest and most efficient way of selling real estate. Auctions create urgency on the part of buyers - a date of the sale establishes a clear point at which a buyer must decide if they want to buy a property. With traditional real estate listings, especially in soft real estate markets, there is less urgency on the part of buyers to make an immediate decision.   In addition, our energetic and property-specific marketing campaigns capture the attention of qualified buyers throughout America. Finally, our flexible cost structure and willingness to entertain offers prior to the auction allows us to produce results for our clients” said Sarah Brewer, Director of Business Development for Realty Corporation of America.

With Corporate Headquarters in the Historic Superior Building in Downtown Cleveland, Realty Corporation of America provides comprehensive marketing, advisory and auction services for residential, commercial and industrial properties. Transcontinental Lending Group, our affiliated mortgage operation, provides customers with access to the most competitive interest rates available on the market, while offering a wide array of innovative and compelling mortgage solutions. Title Assurance and Indemnity Corporation of North America utilizes the latest technology and a fully integrated on-line order placement and order tracking system to perform title examinations, issue title insurance policies and offer world class escrow and closing services. Our auction services division offers our clients the fastest and most efficient way of selling real estate. Our Property Management Division offers hands on, cost effective and highly energized management while allowing owners to position properties for sale or improve operating performance. Our construction services division allows Realty Corporation of America to offer construction, project management and cost estimating services for residential, commercial and industrial properties throughout North America. Additional information about Realty Corporation of America can be found online at  realtycorpofamerica.com.

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