How Can You Benefit from Real Estate Auctions?
Once upon an era, real estate auctions were mostly tools used by lenders to offload bank-owned properties. Today’s real estate auctions have progressed far beyond those limited times. Now we see sellers and bidders from every sector getting involved.
All types of Buyers and Sellers have come to appreciate auctions. Auctions take the guess work out of the process. They are orderly. Specific rules and requirements predetermine the course. Perhaps most importantly, auctioneers follow a code of ethics. Maybe you can take advantage of this popular real estate tool.
How Sellers Benefit from Real Estate Auctions
Real estate auctions provide sellers with the true market value at the time of the auction. The best outcomes for both sellers and buyers are possible in this encapsulated environment. Besides being fun, competitive bidding results in the best prices.
Auction events produce cash results and prompt closure within 30 to 45 days. These advantages come in addition to the ability to list any property for sale “as is”. Sellers benefit by being able to set the smallest acceptable price. And the property usually sells on any given day. This prevents normal carrying costs from hunting them.
Buyer Benefits
Ask investors. Auctions can be highly beneficial to those who want to buy properties. If the idea of real estate auctions wets your interest but you have no out-of-the-way property to auction off, maybe it’s time to get your feet wet.
Here are reasons to begin studying properties available through auctions. A dozen benefits come to mind.
- Competitive bidding in the driver’s seat. You will know the market value – and that’s powerful. The actual event helps you make good decisions based on the other bidders and the seller. By the way, the seller really wants to sell.
- With your finances are in order ahead of time, you will own the property quickly. Forget long pending negotiations. And the new modern online auctions extensively reduce time frames.
- All assets involved in land auctions and property auctions are available for inspection. Buyers will walk the land and ask the questions to obtain the knowledge they need.
Online Auctions
Often times, sellers prefer to have their properties marketed to a very broad audience, one available through the Internet. This may be reserved for real estate auctions held during difficult months of the year or some other restricted time. But these auctions can gain bidders quickly over time and buyers who use them use that time to make good decisions.
Auctions Continue to Offer New Horizons
Land auctions and other types of property auctions continue to thrive, especially during tightening economies. As the Internet boosted the efficiency of property auctions, the societal mobility also contributed. People get around easily, even via Zoom-type calls, to gain easy access to properties being sold on the auction block. And everyone has a jolly time. Anticipation, meeting one another, and generally reacting to the excitement in the air. It’s kind of like going to the races.
Auctioneers – SE Colorado
Call Gene Cruikshank at (719) 336-7802. Cruikshank Realty, Inc. offers complete real estate auction services and normal private treaty marketing. Licensed auctioneer for Colorado, Kansas, Oklahoma, and New Mexico. We keep client and customer bases throughout the United States.
Our guiding principle has always been to respect all customers and clients and match them with the best real estate investment.