Ramblings of a Baltimore area Realtor: February 2018

Realistically Buying a Property at Auction

Realistically Buying a Property at Auction

More and more sellers are selling their homes by auction than ever before.  Not all properties sold at auction are foreclosures anymore.  However, buyers need to become more educated so they don't get disappointed.  

Buying at AuctionZillow is not the best source of information.  Just because it is listed on Zillow doesn't mean the property is for sale, is listed with the agent whose name appears on it and it doesn't mean the price or value on the property is anywhere near being accurate or realistic. 

If a property is being sold by auction the list price is generally the beginning bid.  At auction the price has to start somewhere and the auctioneer will begin the bidding at the price the property is listed for.  

The reserve is the price the seller wants or needs to get for the property when it is sold.  When you call the auctioneer's office you will want to know what the reserve is.  The beginning bid or listed price is irrelevant.  

You will want to know how much deposit to bring to the auction and what the other requirements are.  Not all auction companies require you to register unless you are being represented by an agent.  

Some auction companies will let you view the property before the auction too, so ask if you can gain access to the home before the auction so you can determine it's condition.  And, if you really like it, can you make an offer before the auction. 

 


If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

If you are interested in knowing more about buying or selling real estate by auction ask me how.  You can reach me by phone (410-292-0100 Cell or 410-488-3124 Ashland Auction Group) or email.  

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Remax New Beginnings and Ashland Auction Group

City Living Expert

 

 

 

 

 

 

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 0 commentsJune Piper-Brandon • February 27 2018 04:50AM
Realistically Buying a Property at Auction
share
Realistically Buying a Property at Auction More and more sellers are selling their homes by auction than ever before. Not all properties sold at auction are foreclosures anymore. However, buyers need to become more educated so they don't get… more
Affordable Baltimore County Ranch Home - 306 Pinewood Rd
share
Affordable Baltimore County Ranch Home 306 Pinewood Rd., Baltimore, MD 21222 This approved short sale home in desirable Dundalk neighborhood is back on the market but this time the short sale is approved and the price has been set by the bank. … more
Helping Your Buyer’s Purchase at Real Estate Auctions
share
Helping Your Buyer’s Purchase at Real Estate Auctions I’m sure you see the listings in the MLS for properties for sale at auction and you probably shy away from them. I know I used to. Now, I bring a lot of buyers to the auction, especially… more
What is the Best Way to Sell Your Unwanted Property?
share
What is the Best Way to Sell Your Unwanted Property? As a Realtor we are trained to list homes and sell them through traditional avenues of the multiple list service. She who has the most listings wins!! But, is this always the best way to help… more
Just Sold - A Retirement Dream - Real Estate Investing
share
Just Sold 1833 W Baltimore St, Baltimore, MD 21223 I have been hosting guests in my home for the last year through Airbnb. Last fall I had the good fortune to host a nurse, who had just accepted a position with a local clinic. He had already… more
Interest Rates and the Theory of Relativity
share
Interest Rates and the Theory of Relativity So, today as Janet Yellen exits her position as Chairman the Federal Reserve decides to keep interest rates where they are for now. Interest rates have been slowly edging up and as we enter the spring… more