What are the pros and cons for an auction home?
2006-11-18 04:55:57 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Like i heard from other people that the cities will own the house becuase people dies in the house, then auction it to other people.
2006-11-18 05:15:41 · update #1
This actually has been a good way to sell a house. If the auctioneer is good, they'll get you more than fair market value for your home. I've seen it happen at each of the house auctions I've attended.
Go for it. You could make more money!
Note: You did mean auctions, and not foreclosures, didn't you?
2006-11-18 05:07:54 · answer #1 · answered by teran_realtor 7 · 0⤊ 0⤋
Looks like 2 different questions with your comments added in. Auctions are gaining as an alternative to traditional marketing. SO it depends on you, foreclosure or non distressed home being offered in a non traditional manner. We just sold a clients home at auction and it went for 20K more than anything else in the neighborhood, and bidding started 100K below MV. An auction in that respect lets the market speak. The contract was as-is and not contingent on ANYTHING. The potential bidders did have the opportunity to have the home inspected prior to auction, which differs from a courthouse distressed property auction, where generally speaking you do not get to look at the house at all.
2006-11-18 06:23:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋