Common Myths of Selling your Property At Auction
Myth # 1 An Auction is the avenue of last resort and only for distressed properties
Like art, jewelry and other high end items, auction work for stabilized and opportunistic properties in the most desirable markets. True, the platform’s success late int he default cycle is certainly unique and highly valuable to banks & lenders. However, RE/MAX Realty Professionals is having sudcess in the Real Estate market, which is realizing that using auctions as a first resort can be very effective.
Myth # 2 Buying at Auction means buying “sight unseen”
Just like a conventional process, RE/Max offers full due diligence and physical inspection, open house dates and private showings of the property.
Myth # 3 There are hidden fees
Let’s be clear, there is never a cost to participate. The only fees are paid at the time of closing.
Myth # 4 Its Rigged. I’m bidding against the Seller
This myth typically refers tot how auction companies support bidding to ensure the price hits the reserve, which is the minimum the seller will accept. The Seller is never allowed to bid on his/her property.
Myth # 5 I need to be tech savvy to bid in an online auction
Remember to check all homes for any signs of damage for this we use Kansas City Water Damage
If you have a computer and can click a mouse , you can bid in an online auction.