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.

Top Reasons Why People Sell Their Home

Home owners sell their houses for a variety of reasons. Some people who have lived in one place for 20 to 30 years often wonder about this. Let’s take a look at why people sell their house.

People sell their houses if they want to upgrade or downgrade their property. Upgrading is applicable to a growing family. When they first bought the house and there is just the two of them, one-bedroom house is just enough. And then they grow in numbers; they now have babies and pets and they realized that they needed a bigger house. So, they sell the smaller house in exchange for a bigger and better one. On the other side of the coin; as their children found a family of their own, they are back to being just the two of them. Hence, the reason for selling their house.

Some people sell their house not because they want to, but because they have to. Change in job location can move people to sell. When it is more expensive to keep the old house and rent another one near the working place, it seems logical to sell. People sell when they do not want to spend hours commuting to and from work.

Personal relationship is one of the common reasons why people sell. If each of the couple owned a home prior to getting married, they would want to sell and buy a new house together. On the other hand, divorce or separation causes the couple to sell because they want to get rid of the bad memories including the house that they once lived in.

Change in neighborhood is also a major factor why people sell. When they first move into a certain place, it was once a quiet place. And then, it changes over time. Their neighbors started to receive visitors at 2 AM or maybe there is a new freeway constructed nearby.

Whatever your reasons for selling, you can have a quick and easy sale with Lucas Properties. Lucas Properties buy houses in any condition at any time. Receive cash for your home with Lucas Properties.