Buying Real Estate at auction ...wow. The first thing most people think is it must be a distressed property of some type,foreclosure, bankruptcy, etc.Those are old world thoughts,in todays now society,buying at auction is second nature for them.  A large part of this comes from participating in some kind of eBay event be it selling or buying.

    Buying real estate at auction is really pretty easy. There are some things you should always consider just like you would with any purchase.

       1. Is the auctioneer reputable and is he licensed by the state as a real estate agent and an auctioneer?

       2. What are the terms of the auction?

       3. Where and when will the auction be held? Remember at a real estate auction there is only one 

             thing being sold so you will not want to arrive late.

        4. How much earnest money will I need the day of the auction and in what form I should bring it?

        5. Ask questions.......auctioneers love to talk you will get answers to all your questions.

      Go to the auction with an open mind but set a price on what you are willing to pay for this property..be a little flexible because you never know when a bid of one or two more increments might get you the home of your dreams.

      Most of all have good time, auctions are fun and entertaining and I would advice you to go to couple of them before you jump in. If you are an investor try going to the multi-property auctions where you can buy one or more houses in less than two hours. ( Just this spring we sold 21 homes in less than 3 hours)

     Our next multi-property auction is Aug. 25th In Beloit WI but in the meantime we have a lot of homes we will be selling. Check our website at www.beloitauction.com or give us a call at 877-364-1965 for more information.

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