In many parts of the country, auctions are a common way to sell not only the house, but any vehicles, boats, and furniture or belongings you want to sell along with it.
Using Auctions to Sell – Benbrook House Buyers: There are numerous ways to sell your house and some will serve you better than others. You should consider them all and then choose one. If that doesn’t work or you find it too much hassle, you can always try another way later. There’s no reason to believe that you must sell only in the traditional manner to make it a successful or legal sale. Sometimes those traditional sales present the most challenges and you might not end up with the most money for your property when all is said and done.
An auction is one alternative that you can consider. In many parts of the country there are auction houses that handle estate sales including the house and property. In these parts of the country, the auctions are conducted by professionals that are booked most all the time and have professional and experienced auctioneers that conduct the actual sales.
An alternative to ordinary traditional home sales is the use of an auction company.
These auction companies can help you value your property and will schedule an auction date. The minimum bid must be met and will most likely be set with your circumstances in mind. If you owe $100k on your mortgage, for example, you might not want to take anything less for the property. The bidding would start at $100k plus your sale expenses. That way you are assured that your mortgage and sale expenses are paid off when the house is sold. In most cases the house will be sold and the deal settled very quickly once the auction has taken place. In order to bid, most have rules that require a specific amount to be presented at close of auction, and there is a date by which the remaining moneys must be paid.
You will need to fix up the property as nicely as possible so those that come to preview the house get a good impression. Clean up, do basic repairs, and perhaps replace any fixtures that are old and crusty. The better it looks on first impression, the better it will do at auction. It should go fairly well, as long as the starting bid is considerably lower than the current value on the common market. When you do sell through an auctioneer, the buyers will be buying your property ‘as is’ and the highest bidding investor will win the right to pay for the property and have the ownership transferred to them.
Filed under: House Selling