Real Estate Auction in Phoenix: Learning How the Process Works

Real Estate Auction in PhoenixLearning How the Process Works

Real Estate Auction in Phoenix

•Investors have long used auctions as tools to uncover high-quality real estate investments. Today, every can take advantage of opportunity

•Open to the public

•Unique and efficient way to sell real estate

•Environment is fast-paced and the process involves open competitive bidding


•Two types of real estate auction:

–Absolute auction – allows property to be sold to highest bidder with no limit placed on selling price. Generates significant interest because sale is guaranteed

–Reserve auction – has predetermined minimum price for property. This means if minimum price is not reached during the bidding, seller has no obligation to sell property to highest bidder


What Happens Before a Real Estate Auction in Phoenix?•Auction service will meet with property seller to discuss parameters of property and sale. Determine whether to hold absolute or reserve auction

•Auctioneer ensures real estate auction complies with all regulations. Property title need to be verified and creditors notified


What Happens Before a Real Estate Auction in Phoenix?•Auctioneer and seller plan the advertising campaign and prepare property for sale

•Auctioneers use variety of marketing tools to promote auction, including newspaper ads, online advertising, posters, direct mail, radio ads, television ads, e-mails and more


What Happens at the Real Estate Auction in Phoenix?•The goal is to keep initial outlay as low as possible

•Understand how auction works including all financial aspects of sale. Know you’re not bidding in void and that other bidders have the same goal as you

•The difference between them and you is the top number you are willing to pay


What Happens at the Real Estate Auction in Phoenix?•Basic guidelines for real estate auctions:

–Have readily available cash for the deal

–Understand the type of real estate auction and requirements

–Know the buyer’s premiums

–Research specific properties and understand market values


What Happens at the Real Estate Auction in Phoenix?•Basic guidelines for real estate auctions:

–Inspect the property and prepare a bidding strategy

–Maintain discipline and stay within your established bid limits


About the AuthorDeb Weidenhamer is President of Auctions Systems Auctioneers & Appraisers, Inc., based in Phoenix, Arizona. They specialize in auctions and professional appraisals.

Visit us at http://www.auctionANDappraise.com or call 800-801-8880 for more information about Real Estate Auction in Phoenix.

http://www.auctionandappraise.com/

http://www.auctionandappraise.com/

Real Estate Auction in Phoenix: Learning How the Process Works

Real Estate

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