Basics Of Home Auctions

homealone · #1 12-31-2010, 04:40 PM

Here is some basic information about real estate auctions that I thought anyone who is wanting to buy a home through an auction could find useful.

Auction Basics

When it comes to real estate auctions there are a whole lot of things that can go wrong. This is why I am hoping anyone who is looking to purchase a home this way will do their research and make sure that they understand the things that can possibly go wrong as well as the things that can go their way.

realestatehound · #2 01-18-2011, 03:30 AM

Hey Home Alone: I've been an auctioneer for 34 years and I have watched the profession come a long way. Buying at auction in Ky. is not that bad. I would not try to buy a home unless it is an absolute auction, because then you know that it will sell. If I have an interested buyer I usually try to get them to either do an inspection of their own or have one done prior to sale date as most home's are sold as is at auction, if a seller doesn't want to allow a home inspection prior to sale date it usually means something is wrong with the home. The rest go's just like a regular home sale.

homealone · #3 01-20-2011, 03:40 PM

Thanks for the additional information realestatehound. The more information people have regarding home sales, inspections, auctions and what not the better off they are going to be when they go to purchase a home.

To many people don't know what they should and shouldn't do when it comes to buying a home and as we all here know that can lead to some serious problems later on.