Buying Real Estate at an Auction is the fairest way to buy! You, the buyer, know exactly what is required to be the winning bidder! Simply get your financing in order, have your inspections done, and bid your highest and best price on auction day!
A Buyer's Premium is a percentage added to the final bid to determine the contract sales price of the property. Always keep the Buyer's Premium in mind when you are bidding on a piece of property.
When you are buying a property at auction remember it is being sold AS-IS, WHERE IS, NO WARRANTIES EXPRESSED OR IMPLIED.
If you're nervous about buying a property that is being sold at auction, Have any inspections you want to be done BEFORE YOU BID! Just remember your purchase is not contingent upon the seller remedying anything found in your inspection report.
You can absolutely finance a property being sold at auction. When you see a property that is being sold in an upcoming auction, call your bank immediately and get your financing together BEFORE you bid!
Always read the terms and conditions before actively bidding on any property! These will tell you what your down payment will be and how long you have to close on the property!