Going, Going, Gone - Real Estate Auctions Emerge as Prudent Strategy for Corporate Management
Society of Industrial and Office REALTORS, 2006
Posted: 18 Jul 2008
Date Written: Spring 2006
Abstract
The authors outline how in 2002, The Sarbanes-Oxley Act established new rules for corporations to live by, aimed at eliminating conflicts of interest and other breaches of the fiduciary duties that management and corporate directors owe shareholders. In light of the Enron, WorldCom and Tyco situations, there is a discussion on the corporate seller's dilemma when they hold surplus real estate, advice on how to document the sales process and then an outline on how to engage in the auction process. There is an explanation on how to analyze the costs of alternate disposition strategies and a review on how auctions offer an advantage. The article offers an informative chart to compare auctions to conventional marketing.
Keywords: Steven L. Good, Real Estate Auctions, Sarbanes-Oxley Act, Corporate Seller's Dilemma, Surplus Real Estate
Suggested Citation: Suggested Citation