Real Estate Auctions

In this article I'll be going through information including the following:

1. Unique Elements of Auctions

2. Auction Tips

3. Sites to check for auctions

4. Example

1. Unique Elements of Auctions:

Cash Only More Often Than Typical Properties

Reserves

Buyer Premiums

High Earnest Money Deposits

No Showings, Inspections, or Appraisals Allowed More Often Than Typical Properties

Low % on Local MLS vs Typical Listings

2. Auction Tips:

Don't Casually Browse

Don't Rely Exclusively on Agent Searches

Use an Honest & Knowledgeable Buyer's Agent

Use an Agent w/ Great Gadgets for Visually Seeing Properties

Bad Marketing Means a Better Deal Usually, But More Time

If No Viewing or Inspections are Allowed, Be Prepared to Take a Significant Financial Hit

More Details if No Showings Allowed

Go to the Auction Website

Save a PDF of the Auction Information

3. Sites to Check for Auctions:

Zillow.com (17 properties in VB on 10.25.23)

More National Websites

Websites Not National But Include or Exclusively SE VA

Lists of Additional Websites

Auction sites that do NOT have real estate

Zillow Example

Related:

• Homes for Sale With No Showings Allowed

• Home Elements to View Online Prior to a Showing Request

• Master Spreadsheet for Prospective Home Purchase Considerations

• Buyers Preparing for Showings

• How Can Adam Help Investors?

• The Importance of Choosing a Great Buyer's Agent

• Contact Adam