Looking to buy or sell a house? Have you considered a Real Estate Auction? Our list of Real Estate Auction FAQs for Buyers and Sellers will help to answer any questions you may have.
FAQs from SELLERS
Why would I want to auction my home instead of listing it?
- Move your property fast.
- Sell AS-IS with no inspections, repairs, or contingencies, which could hold up the sale and settlement of your property.
- Pay no closing costs.
- Large cash payment ensures property goes to settlement.
- Creates an event, like shining a spotlight on your property.
- Live auctions create a competitive bidding environment in the moment which drives up the price.
Can I set a reserve price on my home?
Yes, but if we feel that your expectations are higher than the market can support, then we will suggest that you do a traditional listing approach for selling your home.
I have a house full of stuff. How do I even begin?
We offer full-service options from cleanout to sale of personal and real property.
FAQs from BUYERS
Is my deposit refundable?
Your deposit is applied against your purchase price and is only refundable if the title cannot pass free and clear of property liens.
How do I arrange to see the property?
Contact the auction company to arrange a showing or contact your real estate agent.
Why are the sellers auctioning the property instead of listing it?
People are choosing to sell their homes at auction more and more because sellers realize that it is an option, and not a last resort. See the SELLER FAQ’S for reasons.
What are the terms and conditions of the sale?
The terms and conditions are listed for each sale on our website. They include information such as deposit requirements and deadline for closing. You may contact us with any questions. Please note that all announcements made by the auctioneer on sale day take precedence over previously published terms and conditions.
What if the title to the property is not free and clear of liens?
If a title is not free and clear of liens, your deposit will be fully refunded.
During the auction, will I be able to understand the auctioneer or how to bid?
We have an assistant available during the live auction to help answer your questions about the terms or let you know the current bid and next increment. We are happy to describe the process prior to the live event so you will feel better prepared on what to expect.
Can I make a contingent offer?
No. Auction contracts do not allot for contingencies.
Want to know more? Contact Zink Auctions & Appraisals today!