How a Home Real Estate Auction Benefits Both Sellers and Buyers.

A home real estate auction can be the most beneficial way for both the seller to sell a home and the buyer to purchase a home. The competitive bidding process and aggressive marketing of the property makes a home real estate auction a win-win for all parties.

Home Real Estate Auction: What Are the Seller’s Benefits?
A home real estate auction is enticing for sellers because:

• Buyers come to the auction ready to buy (no looky-loos)
• The sale is made much faster than typical real estate transactions
• Due to the marketing blitz and the fact that prospects are prescreened for financing, a home real estate auction attracts an abundant amount of potential buyers that are already prequalified and eager to bid on the property
• The property sells for market value and the seller knows exactly when the home will sell
• Buyers compete with one another so the auction price can significantly surpass a negotiated sale

Home Real Estate Auction: What Are the Buyer’s Benefits?
Auctions are also advantageous for buyers. Buyers at a home real estate auction:

• Know ahead of time that the seller is highly motivated and committed to sell
• Can purchase property quickly without engaging in a lengthy negotiation process
• Receive information prior to the home real estate auction regarding all relevant aspects of the property
• Know they’re making a smart investment because the competitive bidding process ensures fair market value
• Know the purchasing and closing dates prior to the home real estate auction
• Determine market value

Home Real Estate Auction: What Are the Different Kinds of Auctions?
There are two types of auctions:

1. Absolute Auction: There isn’t a limit on the selling pricing in an absolute home real estate auction. The home is sold to the highest bidder. Since a sale is guaranteed, absolute auctions are especially popular because they generate a lot of buzz among buyers and generally have increased participation.
2. Reserve Auction: The minimum value of the property is determined in a reserve auction, and the seller is under no obligation to sell if the bidding does not reach the predetermined price. A reserve home real estate auction gives the seller peace of mind that the property will not be sold below the pre-set price, while also ensuring competitive bidding among the potential buyers.  The Seller has the option to sell the property below the reserve if they elect to do so. Most lenders use the auction method.
3. Online Auctions:  Online auctions provide buyers no matter they are located, the opportunity to buy.

A home real estate auction offers a win-win for both the seller and the buyer. Learn the ins and outs of buying and selling real estate through highly competitive auctions by calling Premiere Estates at 877.337.8283 or emailing info@PremiereEstates.com. Visit Premiere Estates online at www.PremiereEstates.com.