Auctions

Why, you ask, does a real estate agent have information about auctions on her website? Simple, I like to educate my clients. How many times have you seen a home for sale by auction and you think to yourself,” How exactly does this work?”

These are a few of the more frequent questions asked about selling and buying a home through auction.

Selling your home via Auction:

Will I get Fair Market Value for my home?

The answer is yes. The competition involved in bidding for your home will keep the selling price of your home at market value.

What are the advantages of selling my home through an auctioneer?

· There are no contingencies when selling through auction.

· You choose the date and time your home sells.

· You receive an increased amount of deposit at the sale.

I currently have a real estate agent. If I want to stay with my agent, can I still auction my home without leaving my realtor out in the cold?

Yes. Even if your real estate agent has no previous experience with auctions, the auction staff will work with your realtor throughout the entire process. Ultimately, the auctioneer manages the auction and the sales associate.

Buying a home via Auction:

Can I buy a house cheaper at an auction than in the regular market?

Not necessarily. The price you will pay for the home is dependant upon the current market and the condition of the home.

How much cash is required to purchase a home at auction?

Typically you will need to have a high deposit for an auctioned home. Most of the financing plans that allow you to buy with no or very little money down are not available when buying a home at auction.

How do I go about buying a home at auction?

Contact a local real estate broker or auctioneer.

If you have more questions regarding real estate auctions, you can contact:

Ames & Ames Auctions

Cincinnati, Ohio

amesamesauctions@aol.com

Pager: (513) 691-6204 (Steve)

Specializing in real estate, personal property, estates, and business liquidation auction.