It’s a very rare occurrence for a house to sell at the first auction. The whole process can take up to 6 months from the time you put it on the market, so don’t be discouraged if you have your heart set on moving quickly—it won’t happen with auctioning. You can visit here https://www.oahuhomebuyers.com/we-buy-homes-ewa-beach/ to know more.
Here are steps to successful selling through a real estate auction.
Step 1: Find a reliable home inspection company
Do not rely on the seller to have this done. The seller doesn’t have time to do it, there are no guarantees, and they won’t be around while the auction is going on. You want to be sure the property is in good condition before the first auction. You also want to know about any defects so you can disclose them or even negotiate a lower price for the property. If you choose to do this as an FSBO, be sure that you check out the home inspection company thoroughly before agreeing to let them inspect your home.
Step 2: Decide if you want to choose your own auction company
If you do, ask them to get a list of properties sold through their auctions and the fees they charge. You can also ask the company doing the home inspection. In most cases they will be able to give you a list of previous sellers and what their experience has been with each one. This can help a lot in making your choice.
Step 3: Review pre-auction marketing
This is one of the most important parts to get right. In some cases, the house may already be listed on the MLS when you contact them. Be sure to double check this information and make any changes as needed before showing the property at an auction sale.
Step 4: Post the property
This can be done by listing with your Realtor or through a Broker. An auction house will charge you less than a Rector but you will have to handle it all yourself. The best part is that they are able to show the property on the internet and on social media which is helpful in getting people there even before the auction date.
