Online Real Estate Auctions

New York Real Estate Journal published an article authored by Olshan Real Estate partner Thomas Kearns entitled, “Online Real Estate Auctions” (subscription required). In the article, Tom assesses the benefits and the risks of online real estate auctions, using a recent experience with a client as an example. Despite its faults, the overall process was efficient, Tom concludes: “As refinements come to the online bidding process, I can see it becoming a valuable tool particularly for smaller and middle market transactions.”