About Auctions

About

What is a Real Estate Auction?

Choosing to sell by auction is the most time efficient and hassle-free way of selling real estate. With auction not only do you have a set day of sale, but you can also sell it as is. This means no requests from the buyer to do additional work to the property or add conditions or contingencies. This does not mean that a high-value property will not sell at auction for at or above market value

A real estate auction is a quick and innovative method of selling real estate. It is a fast-paced, intense process that involves the sale of public property through the process of open, competitive bidding. It is by no means confined to properties such as foreclosures, abandoned buildings, etc.

Benefits of Buying a Home at Auction

  • The buyer knows that the seller is committed to sell.
  • Competitive bidding helps ensure that properties are being sold at fair market value.
  • The buyer determines purchase price.
  • There is no long negotiation period.
  • Auctions ensure that a property can be bought in a short time period.
  • Purchasing and closing date are on a set date.
  • All bids are open so buyers know they are competing fairly with all other buyers.
Image of lawyer holding a auction hammer on model house. Concept of the law is to buy or sell houses