Thinking about buying your next home at home auctions? Decide fast because sales close fast!
There are many reasons homeowners find they need to sell their home fast. A new job in a different state, a home inherited from a parent, or maybe you’ve come under financial strain and need to downsize.
Regardless of the reason, it’s still important to make sure your home is seen by qualified buyers. What many people don’t realize is that home auctions are an excellent place to focus your time, energy, and money.
Let’s look at some of the reasons that selling a home through the auction process is more than just a quick offer.
Home Auctions Bring Competition
Perhaps you’ve been to an estate auction, or maybe you’ve watched some Sotheby’s action on television. Auctions and the bidding process are almost like a sports game. There are players, observers, and referees. And no matter the experience of the person bidding, there’s always that pull to win.
Researchers in the economics of behavior have a term called the “endowment effect.” Basically, the human desire to win often takes over during the bidding process. This bidding in order to win leads to overbidding in many cases. And that’s not a bad thing if you’re the one selling the house!
Spike New Interests
Let’s face it. Not every house that goes on the market gets an offer. Some homes can sit on the market for 6 months or longer. For whatever reason, the property just doesn’t get the interest you had hoped for.
Rather than let it sit stagnant on the MLS, more and more sellers are turning to home auctions to renew interest and tap into an entirely new group of buyers. People who purchase homes through the auction process are very aware of how the system works and are professionals who know what they’re doing.
Your home is now on the radar of serious buyers (who in most cases are already pre-approved for a loan), not just looky-loos.
You’ve seen the headlines. “How to Create Curb Appeal,” “Top Tips for Staging a Home for a Quick Sell,” “7 Things You Must Fix Before Trying to Sell a House.”
And what does all that really add up to? Money out of your pocket.
Home auctions bring buyers who understand (and don’t care) that they are purchasing the home “As Is.” There are no stipulations on the sell. No one will try to haggle with you over painting or installing new carpet or replacing the roof.
Going Once, Going Twice, Sold!
Some people absolutely dread the idea of selling their home: the negotiations, the added “surprise” costs, contracts that fall through. What about having to make sure the house is always clean? Or leaving every time a potential buyer wants to look at the home (which usually happens on the weekends when you want to stay home and relax!)?
Homeowners who need to sell a home fast and don’t want to deal with all the stress that goes with it are turning to home auctions.
The best way to achieve success is to make sure you’re dealing with a company that knows the process inside and out. A company that offers a professional marketing strategy to bring the right buyers to the auction.
If you’re ready to sell your home but don’t know where to start, get in touch with one of our professional agents. We’ll answer all your questions and have you on the path to home selling success in no time.