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HOW TO BUY AT AN ONLINE AUCTION
UNDERSTAND THE TERMS & CONDITIONS OF THE ONLINE AUCTION
Read Terms Before Bidding
REGISTER TO BID BY CLICKING THE REGISTER TO BID LINK AND THEN FOLLOW THE PROMPTS TO CREATE AN ACCOUNT, IF YOU DO NOT ALREADY HAVE AN ACCOUNT.
After registering, you just Log In to Bid.
PREVIEW ITEMS YOU ARE BIDDING ON OR PLAN TO BID ON
Items Sold "AS-IS" at Auctions
REAL ESTATE: EVEN THOUGH AUCTION PROPERTY SELLS “AS IS, WHERE IS” DOESN’T MEAN YOU CAN’T HAVE INSPECTIONS DONE! YOU CAN ORDER ANY INSPECTION(S) YOU DESIRE SO YOU KNOW WHAT REPAIRS OR ISSUES YOU ARE POTENTIALLY DEALING WITH, PRIOR TO PURCHASING THE PROPERTY, JUST LIKE TRADITIONAL LISTINGS.
Be a Savvy Buyer - Buy at our Auctions!
REAL ESTATE: HAVE YOUR FINANCING IN PLACE PRIOR TO THE AUCTION. YOU WILL MOST LIKELY BE REQUIRED TO PAY 10-20% OF THE PURCHASE PRICE AT THE CLOSE OF THE AUCTION, AKA: THE DAY OF SALE. THIS MONEY IS A NONREFUNDABLE DOWN PAYMENT THAT APPLIES TO THE PURCHASE PRICE.
You will also need a letter of credit from your lender or verification of cash if you don’t require a loan.
REAL ESTATE: IT'S A GOOD IDEA TO HIRE A REALTOR® TO REPRESENT YOU EVEN BIDDING IN AN ONLINE AUCTION. IF YOU ARE THE WINNING BIDDER, THEN YOUR REALTOR® IS THERE TO HELP YOU WITH THE CONTRACT AND ACCOMPANYING PAPERWORK.
By doing this you take the risk of emotional bidding out of the game.
HOW TO BUY WHEN ATTENDING A LIVE ON-SITE AUCTION
UNDERSTAND THE TERMS & CONDITIONS OF THE AUCTION
Read Terms Before Bidding
SHOW UP EARLY AND REGISTER AND COMPLETE PAPERWORK
You will get a Bidding Number to Bid
PREVIEW ITEMS OR PROPERTY YOU PLAN TO BID ON
Items Sold "AS-IS" at Auctions
LISTEN CLOSELY TO THE AUCTIONEER AND BE PREPARED TO BID
At LIVE Auctions there's a lot of stuff going on. Listen before raising your bid card.
REAL ESTATE: EVEN THOUGH AUCTION PROPERTY SELLS “AS IS, WHERE IS” DOESN’T MEAN YOU CAN’T HAVE INSPECTIONS DONE! YOU CAN ORDER ANY INSPECTION(S) YOU DESIRE SO YOU KNOW WHAT REPAIRS OR ISSUES YOU ARE POTENTIALLY DEALING WITH, PRIOR TO PURCHASING THE PROPERTY, JUST LIKE TRADITIONAL LISTINGS.
If getting inspections - do that before Auction Day!
REAL ESTATE: HAVE YOUR FINANCING IN PLACE PRIOR TO THE AUCTION. YOU WILL MOST LIKELY BE REQUIRED TO PAY 10-20% OF THE PURCHASE PRICE ON THE DAY OF SALE. THIS MONEY IS A NONREFUNDABLE DOWN PAYMENT THAT APPLIES TO THE PURCHASE PRICE.
You will also need a letter of credit from your lender or verification of cash if you don’t require a loan.
REAL ESTATE: IT'S A GOOD IDEA TO HIRE A REALTOR® TO REPRESENT YOU AT AUCTION. IF YOU ARE THE WINNING BIDDER, THEN YOUR REALTOR® IS THERE TO HELP YOU WITH THE CONTRACT AND ACCOMPANYING PAPERWORK.
By doing this you take the risk of emotional bidding out of the game.
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