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Real Estate Auctions Growing in Popularity

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Thu, Jun 12, 2008 at 2:57PM

Real estate auctions are becoming popular with individual sellers, real estate agents,  and builders as a way to  sell a home.  The sellers determine how long the auction will be listed and the price.  The bidders  are invited to inspect the home prior to the auction.   Home auctions are attractive to sellers due to the quickness of the sale, less need to keep showing the home and non-serious buyers are eliminated.  Home auctions are appealing to the buyers because they may pay a lower price.  They also can get a clear title (buying a home through foreclosure sales can often result in buyng a home with additional leins on the title).  The seller is required to deliver a clear title to the buyer with home auctions. There are many Web sites devoted to finding out about live and online auctions.  Local newspapers and local trade newspapers are also other good places to learn about auctions. Should you choose to sell your home via an auction, it's wise to set opening and reserve prices, offer incentives and create a marketing plan.

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