Should I Sell My House at an Auction?

There are thousands of homes being auctioned off every month. These properties are bank owned, facing foreclosure, or distressed properties. Sometimes, home owners who want to sell the property quickly opted to sell it in an auction. Auction offers a fast and efficient way to sell but is it the right option for you?

As a home owner, when you sell your house at an auction, you will get the benefit of not having potential buyers snooping through the house for months only to find out that these potential buyers are just looking around.

In an auction, buyers are aware that they are bidding at a house that can be less than perfect. Most of the times, houses in an auction are sold as is, where it is, and in its present condition. The whole selling process can only take a few minutes with a maximum of 45 days to close.

Types of Real Estate Auction

Auction with Reserve – This type of auction allows the seller or agent to accept or reject any bid offer. For example, if the highest bid does not match with the seller’s reserve price, he has the right to decline the bid. This type of auction is sometimes a deterrent to buyers because they don’t have the assurance that they can purchase the house even if they offer the highest bid.

Minimum Bid Auction – A minimum price is predetermined by the seller and the auctioneer will only accept bids equal to or above the minimum reserve price.

Absolute Auction – In this type of auction, the house will be sold to the highest bidder regardless of the offered amount. Seller may or may not receive a fair market value offer to his property.

There are other options to sell a house quickly. One of the fastest ways is to sell to private investors. Private investors offer cash for your houses or any property, buy houses as is, and offers a fair price for your property.

Contact Lucas Properties today if you are ready to move your house.

Real Estate Agents Alternatives

While most owners when considering selling a house would opt directly to hire a real estate agent, there are alternatives to the conventional method. These options can save you money but with a little effort on your part since you will be doing more of the work yourself – home selling online and private home selling.

Property Sale Websites

The introduction of the Internet makes marketing easier. There are many private property sale websites nowadays that will allow you to reach a wider audience. Property sale websites function as the local classifieds; the main distinction is that your listing will be virtually available anywhere.

Since you will be doing this on your own, be prepared to write description of your house, take photos that will go with your ad, facilitate viewings, and negotiate with potential buyers. If you are willing to do this and if you have time, you can have big savings selling your house this way.

Aside from these websites which purpose is to list properties for sale, there are also agents who are only available online. Unlike traditional agents, they provide services virtually. They are capable of handling negotiations and proceed to sale completion via online mode. The difference between property sale websites and online estate agents is that the latter handles queries from potential buyers and pass on to the seller. A property sale website can also be an agent if it acts in such a way.

Private Home Selling

Another alternative is to sell your house to a private investor. With private investors, there is no need for home viewings, home staging, and home listing. Private investors even buy houses as is so you can go directly with the sale without preparing your home.

Lucas Properties is a private investor which buys houses in any condition with cash. If you want a quick and guaranteed sale, contact Lucas Properties now and be prepared to receive a cash offer.