The Advantages of Auctioning a Home

Quick Sale

• One of the advantages of auctioning a home is the quick process that allows you to sell your house in one day. Rather than wasting days, weeks or months with your house on the real estate market, you can auction your home and have an immediate sale. If you are relocating and need to sell your house quickly, an auction can help you close the deal in a timely fashion. Auctioning a home can also help a grieving widow or widower sell property without having to endure emotionally frustrating and time-consuming delays. Additionally, homes of deceased individuals can be sold quickly and efficiently without undue burden being placed upon surviving relatives.

No Realtor Fees

• Another primary advantage of auctioning a home is the ability to avoid realtor fees. In most states, realtor fees are based on a percentage of the negotiated sale price of the home, so they can be a lofty expense for homeowners. Auctioning a home allows you to avoid realtor fees and pay a smaller fee to the auction house that is providing the service. Rather than paying out thousands of dollars to a realty company, you can keep those funds as proceeds from the sale.

Timely Access to Proceeds

• Timely access to the proceeds associated with your home sale is one of the most advantageous reasons to auction your home. Before a potential buyer is eligible to bid on your real estate property, he must show that he has sufficient available funds. A buyer can use his personal savings or secure a property loan for payment, but he must solidify and show proof of his financing options before he is allowed to place a bid. As a result, you will have timely, reliable funds available to you shortly after the close of the auction. Property deed transfers are fast since payment for the home is preapproved.