Real Estate Auctions Offering Simple Buying Processes & Smart Investments
Buying a home through an auction is often one of the simplest ways to purchase real estate. It can be the best way to ensure you’re buying a property at fair market value through a transparent and straightforward process.
The Benefits of Buying Real Estate Through Auction
Real estate auctions put buyers in the driver’s seat. Purchasing a home through an auction is almost always a smart investment as properties are usually purchased at fair market value. And, most importantly, the buyer determines the purchase price.
Including auction homes in your home search can also be a way to discover rare and special properties. Homes in need of a little TLC are also commonly sold at auction – perfect for those looking to renovate and add value to a property.
Other benefits to purchasing a property at auction that traditional listings don’t offer include:
- Buyers determine the purchase price
- Auctions eliminate long negotiation periods
- Auctions reduce the time it takes to purchase the home
- Purchasing and closing dates are known upfront
- Multi-property auctions let buyers bid at the same time and place
- Buyers know the seller is committed to sell
- Buyers know they’re competing on the same terms as all other buyers
- And many more
One of the biggest benefits to buying at auction is that our team at H.K. Keller makes the bidding and buying process easy. And, we conduct an inspection prior to the sale that all interested buyers can review prior to bidding so you have the most insight to make the right purchasing decision for you and your family.
What to Expect When Considering Purchasing a Home at Auction
The buying process for auction homes can be much easier than buying through a traditional listing. But, what is the process and what can you expect?
When buying through auction, you can work with your Realtor just as you would when purchasing a home that’s listed. Your Realtor will help you navigate a series of steps for purchasing a home at auction.
The steps to purchasing at auction can include:
- Preview the property. You’ll want to attend the home’s open house or arrange for a private preview.
- Read the seller property disclosure and home inspection report. You can bring in your own experts to read these documents as well.
- Have your financing arranged prior to the auction. This is critical as most auctions are sold without contingencies, meaning the sale is not conditional upon your financing.
- Talk with the auction company. Call us, text us, or email us anytime. We’re here to help you understand and feel comfortable through the auction process. And, we’ve helped hundreds of people do the same.
- Do your homework. Before auction day, evaluate the property’s worth to you and create a bidding plan in advance.
- Get ready to bid on auction day, either in-person or online per the arrangements of the sellers.
- If your bid is accepted, you will typically close on the home in 30 to 60 days after the close of the auction.
To learn more about H.K. Keller can guide you through the process of buying a home at auction, contact our team today. And check out our auction listings on our site to see what’s currently for sale. We look forward to helping you find the right home for you and your family.