Looking to Buy?
Ready to purchase a new home?
Interested in investing in real estate?
Ever thought of buying real estate at auction?
Buying real estate is a long and complicated process.
Below is a list of tips and steps involved in buying homes, land and farms.
TIPS and TRICKS for Buying Real Estate
- Start research online
- Prepare a file of documents needed to get financing
- Check your credit to avoid any surprises
- Determine a setting that fits your lifestyle
- Make a list of must-haves
- Start the process 9-12 months early
- Find a trustworthy real estate agent
- Get to know the marketplace
- Examine the prospect property
- Visit the property on different days and times
- Get to know the neighborhood
- Learn locations of nearby amenities
- Check on property taxes
- Identify insurance providers
- Get an appraisal
- Get an inspection
- Make a fair offer
- Communicate
- Pay strict attention to timelines
- Review the Settlement Statement before closing
Thinking of selling? Know your options. Looking for help finding properties?
Get a seasoned business and agriculture professional
Learn about the benefits of buying at auction and how to prepare below
Benefits of Buying at Auction
- Auction Buyers are able to determine their own purchase price
- By bidding, participants set their own price and ultimately establish market value
- Bidders decide when and how much to bid based upon perceived worth
- Buyers are able to make lucrative investments purchasing auction properties
- Buyers have an opportunity to review details about the sale and property information
- Buyers compete under the same set of terms and conditions
- Auctions eliminate negotiation by setting pre-determined contract terms
- Auctions transactions close quickly and efficiently
- Due diligence is performed in advance of bidding
How to bid and buy property at auction:
There are several steps to taking in preparing to buy real estate at auction. All due diligence should be performed in advance of bidding and buying.
- Research the Property Details on Paper Physically Inspect the Property
- Review the Terms of Auction
- Pre-arrange any Financing
- Find Out the Required Deposit Amount and Be Prepared
- Determine Your Price Ceiling
- Ask the Auctioneer Questions
- Register to Bid
- Place Practice Bids (for online auctions)
- Place Your Highest and Best Bid
Thinking of selling? Know your options. Looking for help finding properties?
Get a seasoned business and agriculture professional
Call Roger M Hunker, Auctioneer/ Realtor 419-217-2828