auction

Should I Sell My House By Auction?

If you are ready to sell your house then you have some questions that you need to ask yourself. Some of these are, Do I sell my house myself,  or do I sell through a realtor? Do I sell my house by auction or do I sell my house to cash buyers? These are the main options you have for house selling. Some are taking a look at the question do I sell my house by auction very seriously.

There are lots of reasons you might want to sell your house by auction. If you’re facing foreclosure, can’t afford your property anymore, or need to move quickly, auctioning your house might seem like a good idea. There are pros and cons to every house selling option. Let’s talk about the thought “Should I sell my house by auction”, and if it’s a good or bad idea.

The Pros To Selling Your House Through Auction

There are some benefits to selling your house this way. When you are looking for the answer to the question should I sell my house by auction,  think about it. You really need to determine if these benefits are applicable to you.

You Call the Shots

Houses that are sold through the auction process are done with a “as is” condition. What this means is there are no offers that can be placed on the purchase contingent on some condition. For example, the potential buyer cannot say he will buy the house at auction if his current house sells. Or, he will buy it if the owner will do certain repairs. The  buyer cannot say he will buy at the auction price only after it has gone through a house inspection. When asking should I sell my house by auction these  benefits may be  the most advantageous.

Hassle Free Benefits

If you have sold a house before then you are well aware of the hassles that can come with it. Whether you are trying to sell it yourself or using a realtor you  have some responsibilities. One of these will always be being available for when the realtor wants to show the house. Some people are comfortable with the realtor doing this on their own, while others are not. Either way it can be a big inconvenience. The same applies if you are selling yourself. You always have to be available when interested parties want to view the home.

Before each viewing you have the hassle of having to run around to make sure everything is in proper order. This can be a big inconvenience if you have a family.

Then on top of this there is getting the home ready for showings. This means you have to go through the big task of decluttering it and then staging it. This is all really time consuming. When you are seeking out the answers for should I sell my house by auction these are some factors to consider.

You Set The Price

There is another answer you are going to get for your query about should I sell my home by auction. This is that you are the one who decides on the reserve price.

This means you determine the lowest amount that you will accept for the home. There is no bickering back and forth about price. Like there would be with some of the other methods of selling your home.

You also retain your rights to refuse any of the offers that are placed on your home in the bidding process.

The Cost Factors

When you are getting the answers to the question should I sell my home by auction  there will be costs involved. This is not a free way of selling your home. You are aware that there are realtors fees when selling in that manner. There are also fees when it comes to selling your home through auction. There will be fees that will have to be paid to the auctioneer. Then on top of this you will most likely have to pay the advertising fees.

Speedy Sale

If when you are questioning yourself as to should I sell my home by auction determine if you want a quick sale. If so, then this may be one of the most important benefits that this type of home selling has to offer.

The Downside to Selling Your Home at Auction

When asking should I sell my home by auction you will discover some negative factors. These may outweigh the beneficial ones.

It Can Be Stressful

If you don’t fully understand how the auction sales work this will be very stressful to you. You may feel like you don’t have control. There are several things that you need to know. This can be overwhelming.

The Extra Fees

You could end up paying more for the auctioneers fees. This is combined with the advertising fees. This may add up to more than what you would pay with some of the other methods used for selling your home.

The Pressure to Make a Decision

You may have to make your decision quickly depending on the bids. You may want more time to decide on offers. You may not have this with an auction sale.

Disappointed with the Price

You probably have a set price in mind for the sale of your home. Selling at auction may not get you the price that you were really hoping for.

A Better Solution

When you are doing research for the answer to should I sell my home at auction you may come across a better solution. This would be selling your home to a cash buyer.

This home selling method has all the benefits of auction selling. It also has some additional ones.

You get to talk directly with the cash buyer and negotiate what you feel is a fair deal. You don’t have all the extra expenses like the advertising or the auctioneer’s fees. You are not going to be stressed out having to learn things about home selling. Your cash buyer will make the transaction a simple one to understand and to process. You won’t have all of the hassles that comes with auction selling, or with the other home selling methods.

Sell My House By Auction Help

You won’t be stuck with the thought “I have no other option but to sell my house by auction.” We’re here to help. We understand how stressful selling a house is. We’ll make you a no obligations cash offer for your house in order to help you avoid feeling like you have to auction your house.

Have a question? Give us a call! We’re always ready to talk. No matter if you have questions about the house selling process, or want to get a quote for your house, we’re more than happy to help! Reach us at 210-596-9669, or send us a message on our website!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

If you are thinking of auctioning your house, it’s important to know what you are up against. It can be a viable opportunity for you as long as you understand auctioning a house pros and cons. If you are new to real estate auctions, it can be useful to have a few guidelines to help you get started and know what to expect.

Auctioning your house can be a solution for if you’re facing foreclosure, can’t wait on the market, or have to move quickly. You may be able to sell your house and make a profit if you are careful and know some of the basics about auctioning your house. Here are a few dos and don’ts.

Some of the Dos When Auctioning Your House

Find an Auctioneer

One of the first things you’ll need to do when auctioning your house is to find an auctioneer. There are many different auctioneer companies available to help you. You may do a quick online search, look in a phone book, or ask friends for a referral. Be sure to do your research and check out all your options including the option to auction a house online. The National Auctioneers Association website can be a great resource for locating an auctioneer.

Read the Fine Print

Always check the fees associated with auctioneer services so you are not surprised later. These fees can run very high and can be as much as 10% of the cost of the house. Be aware of the fees before you proceed so you will know how much profit you can expect to receive.

Absolute Auction or Reserve Auction

Choose the type of real estate auctions you want to run. Do you want to run an absolute or reserve auction? At an absolute auction, there is not a lower limit your house has to earn in order to be auctioned. This simply means that the highest bidder will get the house, no matter what their bid amount. Reserve auctions have a minimum limit and if the bids do not reach the lower limit, the house will not be auctioned.

You may need to decide which of these are the best for you. If you are wondering how to sell a house in auction fast, you may want to learn more about an absolute auction. You may not get the price you wanted, but you are more likely to sell it. Absolute or “no reserve” auctions also tend to be more attractive to potential buyers. Think about your decision and choose what you prefer. Do you just want to sell your house quickly and be done with it? Or are you willing to wait it out?

Some of the Don’ts When Auctioning a House

If you want to sell a house in auction fast, there are also some “don’ts” you will want to think about. You may be saying, but I need to sell my house by auction fast! Avoiding these pitfalls will help ensure you sell your house faster whether you auction a house online or auction it offline.

Don’t Hide Information About the Property

As you prepare for auctioning your house, you’ll need to complete a description. When you work on the description be certain to be totally honest. Don’t try to hide anything you may perceive as negative. If you do not disclose faults, the purchaser can pursue you after the auction and make you pay for items that were not disclosed.

Don’t be Unrealistic

If you want to know how to sell a house in auction fast, you’ll have to start with being realistic. Start with a price you would like to receive from auctioning your house, but don’t be too disappointed if you do not get what you wanted.

Don’t Limit the Number of Bids You’ll Take

It’s important to remember when you are auctioning your house to not set a limit on the number of bids you will take. Some auctions try to set a limit and take the only top three to five bids. This can stall out the upper limits being bid and net you less profit. Allow bidders more opportunity to raise their bids and compete for the property. This can be to your benefit.

Don’t Share the Property Value

There is no reason to share any values in ads or to bidders. Don’t share the appraised value or any high minimum. Not only does this help avoid confusion, but it can mean the difference in a sale or not. Let the bidders place their bids based on what they are willing to pay for the property and their estimate for what it is worth. Don’t set a high minimum either as it will limit how many bids you take, and potential buyers are not fond of being told what to bid.

Don’t Complicate the Matter

Try to avoid situations and decisions that could make for a complicated sale. Make sure any leases are terminated, don’t close a sale in the middle of a growing season. Avoid selling your house according to a first refusal option.

Conclusion

These dos and don’ts are just a few of the things you should or should not do when getting ready to auction our home. You may also want to consider other options before moving toward auctioning as a final choice. You can put it on the market yourself or talk to a marketing professional. There is also the option of selling to a cash buyer. This is often the easiest and fastest way to move property. It can be sold “as is” meaning you are not going to be out the cost of repairs because the cash buyer will take it no matter what shape it is in. They will look at the house and make you an offer based on what they see in the informal inspection. If you accept their offer, they will pay you cash and handle the closing and all the paperwork. This can save you loads of time and money in the long run.

Sell Your House Without the Hassle

Don’t be caught up in the stress of selling a house. We’re here to help! We understand how stressful selling a house is. Auctioning it will only add more stress.

At Matt Buys Houses TX, we’ll make you a no obligations cash offer for your house in order to help you avoid feeling like you have to auction your house.

Have a question? Give us a call! We’re always ready to talk. No matter if you have questions about the house selling process, or want to get a quote for your house, we’re more than happy to help! Reach us at 210-596-9669, or send us a message on our website!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.