Buying Real Estate at Auction
Reasons to consider using the auction method to buy property
- Buyers know sellers are fully committed to sell
- Purchase property at Current Market Value
- Buyers determine the purchase price
- Auctions eliminate long negotiation periods
- Favorable financing can be received
Major Benefits for Buyer
- As a Buyer, you will appreciate the quick sales process, as well as the fact that you, not the Seller, set the property price.
- As a Buyer, you are competing fairly and on the same terms, with other buyers or agents.
- Long negotiation periods are eliminated.
- Our experienced staff is trained to work with you on an individual basis to insure that you receive all the information on the property and bidding process.
How do I buy Property Using the Auction Method
- Review the profiles of the properties that interest you. We welcome your calls and emails, and encourage you to contact us directly with any questions.
- Attend the property previews or contact us to arrange for an appointment to view the properties you are interested in.
- All property is sold ’as is’, so you may wish to have a property inspector view the property with you.
- Consult your Lender, or contact us for an appointment with a Lender who is familiar with the property and our Auction Method. Remember, all bids must be made as a ’no contingency’ offer. If you will require financing, our friendly staff can refer you to a helpful lender.
- Read the terms and conditions carefully. In general, successful bidders shall execute a purchase agreement and deposit a pre-determined amount of earnest money on the day of the Auction. The balance is due in certified funds at closing. Closing is required within 30 days of the Auction date. A Buyers Premium will be added to the final bid price to determine the final contract price.
- Auction Registration is generally scheduled two hours prior to our live auctions.
- Pre-registration and required deposits must be completed prior to the auction to qualify for on-line or phone bidding.
- Listen carefully to all announcements made prior to our live auctions. Any announcements made by our Auctioneer take precedence over written materials. This is how we update any information about the property before the bidding starts.