Reason for Auction Sale - Commercial
There is an office building (midwest city) hitting auction this month where I live.  68% occupied, good location.  Current owner is a billion dollar company so its definitely not in foreclosure or in bank possession.  

Why do they take the auction route on these type of sales?  Just to control due diligence and speed, or is there something else?
[{"id": "g1g4x2h", "text": "&gt; Why do they take the auction route on these type of sales?\n\nCertainty to close. It prevents a long drawn-out marketing / sales process. It could be in pre-foreclosure / distress without being formally in foreclosure, or they could just have decided to get rid of the asset for business reasons.\n\nKeep in mind it may not be an absolute auction, there is commonly an unpublished reserve, so if it doesn't his x price, they won't be selling it.", "replies": [{"id": "g1gxfcy", "text": "Very good point about the reserve.  I will have to research that.  \n\nThat is what they do on auction.com that's for sure.", "replies": [{"id": "g1gxgp7", "text": "**I found links in your comment that were not hyperlinked:**\n\n* [auction.com](https://auction.com)\n\n*I did the honors for you.*\n\n***\n\n^[delete](https://www.reddit.com/message/compose?to=%2Fu%2FLinkifyBot&amp;subject=delete%20g1gxfcy&amp;message=Click%20the%20send%20button%20to%20delete%20the%20false%20positive.) ^| ^[information](https://np.reddit.com/u/LinkifyBot/comments/gkkf7p) ^| ^&lt;3", "replies": [], "depth": 3}], "depth": 2}, {"id": "g1kmpn1", "text": "This.", "replies": [], "depth": 2}], "depth": 1}, {"id": "g1g5jxu", "text": "I wouldn't be surprised if it's a quick sale because someone is greedy and wants to make their cut on the property sale before funds runout to pay other debts. I see that happen a lot.", "replies": [], "depth": 1}, {"id": "g1g6wl7", "text": "They need cash.", "replies": [{"id": "g1gxp5r", "text": "This is not the reason.  That would not make sense with this ownership group.  Too large to be worrying about cash on a building this small (30K s.f.).  Doesn't add up.", "replies": [{"id": "g1h6z5w", "text": "You have no idea what their situation is.", "replies": [{"id": "g1igvz9", "text": "that is true ultimate salesmen, but only way you\u2019re right is if they paid cash when they bought it for 4.9m in 2009.  Otherwise where is the cash?  They sent to auction, its at 68% occupied, and their opening minimum offer is 1.8m.  I guess they could have put a huge chunk down, and would have maybe paid off 1m since 2009.  Nevertheless \u2018they need cash\u2019 is not an answer to my main question (why auction).   That is more of an answer to \u2018why are they selling.\u2019", "replies": [], "depth": 4}], "depth": 3}, {"id": "g1hgezu", "text": "We are at the top of a decade long bull run.   During recessions as deep as this one, a few billionaires lose everything.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "g1gas3a", "text": "If they are publicly traded they may need the cash prior to a quarterly report. Better to take 10% less this quarter than wait until next year.", "replies": [], "depth": 1}, {"id": "g1l7m6m", "text": "Because no one is buying office buildings right now, and they\u2019re impossible to finance so an absolute auction will ensure that someone closes on it otherwise it\u2019s going to be like a 6 month process to sell an office building right now especially a small one ina. Tertiary market", "replies": [{"id": "g1npcz1", "text": "Thanks.  Good thought.", "replies": [], "depth": 2}], "depth": 1}]