Buying Real Estate at Auction
Advantages
Thinking of buying property at auction? That's great! You'll find that an auction conducted by RE/MAX Preferred & Auction offers you several advantages as a buyer:
Commitment to Sell: When you attend an auction by RE/MAX Preferred & Auction, you'll know that the seller is committed to selling the property on auction day.
Service: The RE/MAX Preferred & Auction team will work closely with you in the days leading up to the sale, providing you the information you need to evaluate the property and help you be prepared to make sound decisions on the sale day.
Auction Day: We provide a large staff of professional auctioneers and bid assistants to assist you in any way throughout the bidding and buying process.
Integrity
As a buyer, it is important for you to know that at an auction conducted by RE/MAX Preferred & Auction, the seller is committed to selling the property on auction day. As leaders in the auction industry, we recognize and adhere to their Code of Ethic, which spells out the auction company's obligation to properly inform the buyers during the marketing campaign whether the auction is absolute or with reserve. Therefore, we are committed to providing you with a clear and concise understanding of the property being sold, the terms of the auction, and the auction process as it relates to that specific auction. RE/MAX Preferred & Auction has been successful in marketing real estate by auction and we understand that for us to continue successfully marketing real estate by auction, we must continue to market properties of sellers who are truly committed to sell. When you make the decision to attend an auction by RE/MAX Preferred & Auction, you will know the seller is truly committed to selling the property on auction day.
Getting Ready
As with any other real estate purchase, it's important to do your homework. Here are some steps we suggest:
Study the Information Available on the Property: Start with the color brochure available to you free of charge. You may also want to obtain a property information packet that contains many more helpful details, such as maps, demographics, zoning information and floor plans.
Visit the Property: Ultimately, there is no substitute for viewing the property. Our professional site directors will show you the property and assist you in obtaining answers to all your questions.
Arrange Financing, if Needed: Our properties are sold without contingencies, so you'll want to have any needed financing arranged before the auction day.
Representation: Decide whether you wish to be represented by a real estate broker. If you do, be sure to have the broker register by the broker registration deadline for the auction.
Auction Day
On Auction Day: Plan to get to the sale site for the auction at least 30 minutes early to allow time to take a last look at the property, if the auction is held at the property site, and ask any remaining questions.
Auction Team: The professional auction staff will be on hand to help you understand the process, answer questions about the property and help get you comfortable with the bidding process. Bid assistants will be close at hand to relay your bid to the auctioneer and answer questions that come up during the auction.
Sold! What's Next?
You're the successful bidder - congratulations! You'll meet with the seller and RE/MAX Preferred & Auction immediately after the auction to complete all the necessary paperwork. In most cases, your closing will be scheduled within 45 days.
For more information, give us a call!
