» Property Auction

Tips on auctioning your property

cooldude — Sat, 30 Oct 2010 08:33:19 +0000

Are you looking to sell your property via the auction process? If yes, here are some tips that will ensure a smoother auctioning and lower your stress levels. Firstly, ensure that you get a competent and qualified auctioneer for your sale. Carefully scan through the auction agency agreement with the help of a lawyer. Take time out to understand the legalities of the auction process. Send out an accurate description of your property in the auction catalogue.

Having chosen an auctioneer, you must seek his help to assess the suitability of your property in terms of the location, rental and property prices in the area, any renovation or development work needed and other potential concerns. Select the location site for the auction, as it will determine the kind of potential buyers that come in.

You must also put in a word to the auctioneer that you are interested in pre-auction offers. It helps secure a quicker sale of the property.

All you need to know about online property auction

cooldude — Tue, 17 Aug 2010 17:21:13 +0000

The whole world has gone online now, be it anything. And so has online property auction. But then how advantageous or disadvantageous is it? How do you go about an online property auction? Online property auctions are very advantageous if you cannot go to that particular place, so you can bid for it from the comforts of your house.

The same advantage becomes a disadvantage that you do not get to check the property in person, so you might be missing some major faults in the property. This way you can even be fooled. And how to go about it when you have to auction your property? It is simple. You need to submit your property for inspection to the auction sites owner. After inspection, they accept it and review the value and price of the property and then finally put it for auction. Then the bidding is done and you are paid with the highest bidding amount. So you can now consider an auction website, if you want to bid or auction.

How to successfully navigate property auctions?

Admin USReal — Sat, 29 Nov 2008 04:45:43 +0000

Generally, property auctions are declared by the government agencies and bankers. In some cases, the auctions are also conducted by moneylenders who try to recover their money they offered as a secured loan. Whatever be the reason, the date given for the auction is not very far enough from the date of publication. For government sectors, they may give you ample time to inspect the property, but for private sectors you do not get much time to thoroughly inspect the property.

I do not know whether it is done on purpose or due to lack of time, but there are alternatives for inspecting the area. While you can often make a personal round of the area to check the accessibility of the property from the main road, you can search for other elements on the internet: power availability, schools, markets etc.

If you opt for participating in the auction, please make a proper decision of how much money can you afford for the property. You will also take into account the taxes etc. Begin the auction at the lowest value and progress slowly through small amounts. Keep a watch on the amount you have set aside for the property. If you see that the bids are crossing the amount, which should be less than the original market rate of the property, quit.