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Real Estate Auctions: What’s Your Best Bidding Strategy?
 

Real Estate Auctions: What’s Your Best Bidding Strategy?

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Real estate auctions can be challenging because of the huge commitment a bidder is making. However, they’re also a great way to get what will be your largest asset at an attractive price. And if ...

Real estate auctions can be challenging because of the huge commitment a bidder is making. However, they’re also a great way to get what will be your largest asset at an attractive price. And if you’re buying for investment, you need to keep your initial outlay as low as possible so your return has the potential to be high. Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Real Estate Auctions.

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    Real Estate Auctions: What’s Your Best Bidding Strategy? Real Estate Auctions: What’s Your Best Bidding Strategy? Presentation Transcript

    • Real Estate AuctionsWhat’s Your Best Bidding Strategy?
    • Real Estate Auctions•Real estate auctions can be challenging, but canalso be a great way to get your largest asset at anattractive price•How to handle process at real estate auctions: –Do your homework – know details how auction process works –Understand real estate values and other financial aspects –Be patient – it takes time to become an educated successful bidder. You need to also wait for the right deal to come along
    • Real Estate Auctions•You’ll be competing with other bidders in mostreal estate auctions. Bidders have same objectiveas you whether you are bidding on family home,investment property or raw land•At real estate auctions, it comes down to whoseupper limit price is the highest. You need to stickto your limit even if property is worth more.•Bidding takes a lot of discipline
    • Real Estate AuctionsTips for a Strong Bidding Strategy•Have enough cash readily available – mostrequire registration and upfront payment. You’llalso need to pay commissions in addition to finalbid price•Understand the type or real estate auction held– two basic types: reserve and absolute auction.Reserve auction, seller can reject highest bid
    • Real Estate AuctionsTips for a Strong Bidding Strategy•Understand the type or real estate auction held –Absolute auction, seller sells the property to highestbidder regardless of what amount is•Research specific properties that interest you –collect information: what is owed on the property,liens attached, taxes owed, etc. Research theneighborhood: rate of foreclosures, public schools
    • Real Estate AuctionsTips for a Strong Bidding Strategy•Inspect the property – reputable real estateauctions sets aside inspection times for eachproperty. Take advantage of thorough inspection,bring along contractor, real estate agent, etc.
    • Real Estate Auctions•Real estate auctions present opportunities toget below-market prices•But stay focused on developing a strong biddingstrategy•Remember prepare meticulously, be patient andstay disciplined
    • Real Estate AuctionsAbout the AuthorDeb Weidenhamer is President of Auctions SystemsAuctioneers & Appraisers, Inc., based in Phoenix,Arizona. They specialize in auctions and professionalappraisals.Visit us at http://www.auctionANDappraise.com or call800-801-8880 for more information aboutReal Estate Auctions.