auction (by Shannon [TN]) Jan 4, 2008 5:24 PM|
auction (by BillS [CO]) Jan 4, 2008 6:43 PM
auction (by Normalman [SC]) Jan 5, 2008 4:45 PM
auction (by Shannon [TN]) Posted on: Jan 4, 2008 5:24 PM
State Specific Question About: TENNESSEE (TN)
Has anyone ever sold a property by auction? Was it better than FSBO or using an agent especially in this bad market? --71.191.xx.xxx
auction (by BillS [CO]) Posted on: Jan 4, 2008 6:43 PM
I have done an informal auction on my own. It was successful in that I sold the property and was glad to do so.
1. To get the best price at auction you need TWO people who want the property. From a conventional perspective all you need is one buyer to pay your price.
2. You can get a higher price due to the auction atmosphere. People will over pay.
auction (by Normalman [SC]) Posted on: Jan 5, 2008 4:45 PM
Set a minimum. If it's an investment property, most of the bidders are going to try lowballing looking for a good deal. I've been to a few auctions in SC and acquired my own rentals from auction. They usually go below market but at least they move quickly. --68.159.xx.xx