You may have heard about property auctions as a way to buy a cheap property. The truth is that property auctions offer an increasingly wide selection of properties for sale and it constantly growing.
A stale housing market means that sellers get frustrated with their inability to sell their house. In the mean time, the seller is incurring high carrying costs, and is looking for a way to get money for their property in the most expedient way possible. Property auctions are the right option for sellers for a number of reasons. If they are being threatened with repossession or foreclosure, property auctions offer them a way to salvage their credit rating and unlock the equity in their property right away.
For you, the buyer, there are a number of reasons why property auctions will offer you a better deal. The main reason is that you can buy houses at a mere fraction of the true market value. In fact, you get to set your own price. Depending on the level of interest in a specific property, you can bid exactly how much you want to and still walk away a homeowner.
At seized property auctions, there are sometimes no reserve prices set. This means that whatever the highest bid is, it will win the right for you to purchase the property. Many people have bought houses from property auctions and walked away paying 40% less than the true market value.
It is easy to purchase a house at property auctions because there are no let-downs or long drawn out negotiations to deal with. In the past, you may have been stuck negotiating a price for months, and then a higher offer from a third party has left you with no house, and all that time wasted. There are no negotiations as such at property auctions. A bid is either accepted or it is not.
Many people incorrectly think that you are buying a house blind at an auction. This is simply not the case. If you register as a bidder, you will be given ample opportunity to go and inspect the house, and make sure there are no costly problems lurking beneath the surface.
When you go to property auctions, there are several things you need to look out for. One of them is phantom bidding. If there is little or no interest in a specific property, the auctioneer might ‘pretend’ to be receiving bids. If you spot the price going up and no raised hands, this is your clue. The auctioneer can only legally use phantom bids up to the reserve price, so as soon as this pseudo bidding ends, you could have a great deal on your hands. A clue that the reserve price has been met at property auctions is when the auctioneer utters a phrase like “the owner is in the house.” There are many tips you can pick up before attending such property auctions by conducting your own research and actually going to live auctions to see the protocol.
Selling and Renting Back: Overcoming the Tough Times
Beware of the Sell and Rent back scams
Preparing to buy at property auctions
what will a property auction be like?
the hidden dangers at property auctions
the hidden costs of selling a property at auction
tips for success at property auctions
the advantages and disadvantages of buying real estate at property auctions
a simple guide to seized property auctions
how can property auctions help me sell my home?
how can property auctions help me buy a home?
how do property auctions work?
understanding the terminology of online property auctions
who are the players at property auctions?
strategies to secure great deals at property auctions
a quick guide to buying at property auctions
Property Auctions: Flip Your Own Houses
Property Auctions: Lawsuit Could Weed Out the Bad Guys
Property Auctions - Advantages to Sellers
Property Auctions are Win-Win-Win Home Sales
Property Auctions: Save a Bundle
Property Auctions: What Late Night TV Doesn't Want You to Know
Property Auctions for the New Investor
Property Auctions: Don't Be a Dummy
Property Auctions Online
Buying and Selling at Property Auctions
Advantages of Buying and Selling at Property Auctions
Property Auctions Can Save You Time and Money
Property Auction Tips for Success
Property Auctions - Times Are Changing
The option of quick sale in a home repossessions crisis
a guide to home repossessions: how do they work?
the many reasons for home repossessions
home repossessions: the four major reasons why they occur
home repossessions: tips to help you successfully buy a cheaper house
save your home from repossession by purchasing insurance
home repossessions: the laws that can protect you
home repossessions: how to locate the best advice
home repossessions: is filing for bankruptcy the answer?
home repossessions: the risky world of secured loans
home repossessions: are secured consolidation loans the answer?
home repossessions: what they are and how to avoid them
home repossessions: can you buy another house afterwards?
home repossessions: how to find them, buy them, and make money
home repossessions: your home is under threat but there are still steps you can take
home repossessions: your home is under threat but there are still steps you can take
Repossessions Q&A
Repossessions: Take Advantage of Them without Guilt
Repossessions: Don't Fear the Banker
Repossessions: Belt Tightening to Avoid Repossessions
Fight Back at Repossessions
How to Survive a Home Repossession
Tips that will help you avoid a home repossession
Getting an Investor involved in a Home Repossession can be a Smart Idea
Beware of the Sell and Rent back scams
Sell and Rent Back: Don't Give Up
Sell and Rent Back, Everyone Can Benefit
Sell and Rent Back: A Retirement Option
Sell and Rent Back for Dummies
Sell and Rent Back - When Life Happens
Sell and Rent Back Can Save You from Drowning
Sell and Rent Back: Helping During Financial Hardships
Sell and Rent Back: Sell your House Now and Stay Later
Sell and Rent Back: How to Sell your House and Sleep there Too
Sell and Rent Back: A new Wrinkle in Selling Homes
Why sell and rent back your own house
Is it wise to sell and rent back your home
Sell and rent back offer easy solutions with home debt
Eight good reasons to sell and rent back your home
Educate yourself on sell and rent back options
What is Sell and Rent Back and how can it Benefit Me?
