If you’re considering selling your home, you may be wondering the best way to go about it. You might be thinking of using a real estate agent, or listing your home online. But have you considered local auctions? Here are 5 reasons why selling your home at auction is the best way to go:
- Auctions are fast. An auction is the best option if you need to sell your home quickly. The entire process usually takes about four weeks from start to finish.
- Auctions are transparent. With an auction, there are no secrets. All offers are made publicly, so buyers know exactly what they’re getting into before they make a bid on your home.
- Auctions create competition. When multiple buyers are bidding on your property, it drives up the final sale price – meaning more money in your pocket!
- You control the terms of the sale. With an auction, YOU set the date and time of the auction, as well as any other terms and conditions that potential buyers must meet in order to participate in the bidding process.
- There is less paperwork and negotiation. Auctions typically have less paperwork and less negotiation than traditional home sales, making the process less time-consuming and less stressful for the seller.
So if you’re looking for a quick, transparent, and profitable way to sell your home – put it up for auction! You won’t regret it.
Home Auctions are Faster Than Selling Your Home on the Open Market
Need cash now? Home auctions provide the fastest solution to getting your money. In most cases, a few weeks is all it takes to go from listing the house for auction to having cash in hand. Compare that to selling through traditional methods, which can take months or even years due to the number of steps included in the process, not to mention any surprises that might drastically increase the time it takes to find interested buyers. From listing, showings, paperwork, inspections, and negotiating with qualifying buyers – home auctions drastically reduce the time those steps take, so you get the cash you need when you need it.
Part of what speeds up the process is that you don’t need to work with a realtor or broker to sell your house at auction. That means that with a home auction, you don’t need to pay high commissions or other fees associated with working with a real estate agency. This often means there’s more money in your pocket when the sale is final.
Local Auctions are Transparent
Selling a home at auction is a proven way to make sure you get the right price for your property. Local auctions are even more preferable due to their transparency. Bids are made publically, so buyers and sellers alike will understand how potential buyers value the property. All information related to the transaction is easily available to interested parties, making them well-informed buyers with the power of knowledge at their disposal. This puts you in a great position to get the price you want for your property.
At the same time, local auctions also make sure that buyers know exactly what they’re getting into before making their bid. This ensures that there are no surprises when it comes time to sign the paperwork and close the deal.
Due to the clarity of these transactions, selling at a local auction allows you to be in control and set realistic expectations. Because you’re setting the terms of the sale, you can make sure that everything is laid out beforehand so there are no surprises.
In addition, selling a home through an auction may even give you more access to national and even international buyers who may be willing to bid more than expected based on market trends and demand. Don’t hesitate – selling your property at a local auction is the best option for getting your desired price!
Local Auctions Create More Competitions for Your House
Working with an auction house to sell your home or property can be an exciting and financially rewarding decision. Auctions create a competitive atmosphere because many interested buyers will attend auction day, so they’ll see their competition – and their bids – in real-time. Auctions can attract the attention of national and international investors who are looking for a profitable deal.
This competitive atmosphere can create bidding wars, which will ultimately yield strong sales prices—regularly higher than pre-auction listings—while minimizing the time it takes to close a sale. While traditional methods may still result in bidding wars between interested buyers, there’s no guarantee interested buyers will understand there are other parties they’re competing against nor that they will even want to engage in such negotiations. Meanwhile, many bidders attend auctions because they like the competition.
Rest assured that when you sell your home at auction with the savvy professionals at Looper Auction, our team will make sure you get the results you hope for.
You Have More Control over the Terms of the Sale at an Auction
When you put your home up for auction, you are in control of the terms of the sale. You’ll work with the auction house to set the date, time, and starting bid price. If you’re worried about big-budget buyers scaring off the competition to ensure a more favorable price for themselves, you can set maximum price increments for subsequent bids. You can even set a floor – known as the reserve price – so you aren’t locked into accepting lowball offers. If the auction house you work with sets up an online auction posting, you get to decide how long the auction will last, so you can take the guesswork out of when you’ll be paid.
This is all a big advantage over selling through a real estate agent. They may try to pressure you into accepting a lower offer because it’s more favorable for their commission, and you’re limited to buyers in the realtor’s network. Similarly, there’s no telling when you might finally get an acceptable offer, depending on how your property compares to other homes on the market.
Auctions Typically Require Less Paperwork and Negotiation Than Standard Real Estate Deals
A local auction is possibly the best way to sell your home fast. At the end of the day, auctions are less of a headache than selling your property through a real estate agent – or worse, privately yourself. In addition, if you’re in a tight market or an area with few buyers, an auction might be the only way to get the most out of your investment.
Auctions typically require less paperwork and negotiation than standard real estate deals. This means that you can close the sale quickly in as little time as a month in some cases. This is because the buyer, like you the seller, is also motivated to get the deal done quickly. There is also less downtime in the auction process, so you’ll notice that it moves quickly from start to finish. This means that you won’t have to worry about months of waiting and negotiations.
At Looper Auction, our team is here to assist you in every step of the process. We’ll work with you to determine the best way to market your home for auction and handle all the paperwork (there will still be some).
An auction is the best option if you’re looking to sell your home quickly. The entire process can take as little as four weeks from start to finish, and with an auction, YOU set the date and time of the sale. Auctions are also transparent – all offers are made publicly, so buyers know exactly what they’re getting into before they make a bid on your home. Plus, auctions create competition among buyers, which can drive up the final sale price of your property. And because there is less paperwork and negotiation involved in an auction sale, it’s less time-consuming and stressful for the seller. So if you need to sell your home fast, work with Looper Auction to get cash for your property now.