Residential Property Auctions
So you’ve going to sell your home and have heard about auctions and the good results others have had.
Residential property auctions are a way of selling your property where any number of interested bidders bid for your home and you are almost guaranteed to sell your house at an auction unless there is something terrible wrong. Auctions are also a great way to sell your property, as agent’s fees, etc. are almost always lower than listing your home for sale. When you decide to auction your property, you list with the one agency and they take care of the entire process with a few minor exceptions, which will be discussed later.
In order to get started, it is wise to make inquiries regarding which agent to choose. It is vital that the agent is not only reputable, but fully experienced and qualified. Check out how many properties they have successfully auctioned in the recent past. Their history will give you an idea as to how capable they are in getting your property sold. Next thing is to have a very honest and unbiased look at your property. What do you want for it? What do you NEED for it? Is it up to scratch? Speak to your chosen agent about what similar homes have sold for in your area and then either look at a realistic reserve price or think about sprucing up your property to make it more saleable. Walk from room to room and look at what you could do to make that room more appealing. Sometimes things such as washing down a wall in the children’s room or a freshening coat of paint can help. Check out your carpets; maybe a good clean is in order. Remember, presentation works wonders. Mow lawns, weed garden, and be sure to have your property smelling fresh, maybe have some fresh cut flowers inside.
Be prepared for people to come through your home to have a look. An Auction Sign will be placed in a strategic place on your property advising of the auction date. Your agent should always accompany prospective buyers at this mutually agreed on times. Be sure to have you property looking its best at these times. Let them look in peace but be available to answer any questions they may have if asked.
After much advertising on the part of the agent, the big day finally arrives. Sometime these auctions are held at public places such as auction rooms or function centers, etc. but in many cases, the residential property auctions are held on site, either in front of the property or in the front yard. The auctioneer will speak to the prospective bidders, mention some of the qualities of the property and start the auction off. At this time it is often best if you stay indoors way from the hopefully frantic action outside. The auction ends when no more bids are received. In the unlikely event that your reserve price is not reached, your property is “passed in” and not sold. At this time you may negotiate, through the agent, with the highest bidder or keep the house and try to sell by other means.
To learn when residential property auctions are being held in your local area visit AuctionPass
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Welcome to PreForeclosureHomeAuction.com « Preforeclosure …
Here we will keep you updated on the latest Pre-Foreclosure,Distressed and Discounted Builder Home Auctions. This entry was posted on Friday, January 9th, 2009 at 10:20 pm and is filed under Uncategorized.
Welcome to PreForeclosureHomeAuction.com « Preforeclosure …
Here we will keep you updated on the latest Pre-Foreclosure, Distressed and Discounted Builder Home Auctions.
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