If you follow the measures outlined in this article, selling your Atlanta home at auction may be a viable alternative…
Selling your property at auction in Atlanta is a technique that is becoming increasingly popular around the country since it provides an opportunity to sell your home quickly, without having to pay real estate agency fees, and in many cases, with a profit.
The disadvantages of auctioning your property rather than selling it through the regular real estate sale procedure with an agent or to a real estate investment firm such as Georgia Fair Offer are, as with anything, debatable.
The purpose of this post is to explore the do’s and don’ts of auctioning your property in Atlanta and the surrounding areas as well as the issue of “Is Auctioning Your House A Good Idea in Atlanta GEORGIA (GA)?”
Is Selling Your House at Auction in Atlanta a Good Idea?
You should bear in mind that there are various preparations that you must make before the real auction begins if you intend to auction off your Atlanta home.
- You must first locate an auctioneer in Atlanta before you can really have your house auctioned off. There are a plethora of auctioneering companies available nowadays, so do your homework before selecting one to represent your home at auction. One way to start is your local phone book, a referral, or the National Auctioneers Association website, where you can make a quick search for auctioneers in our area of GEORGIA, which is located here (GA). Look for those who have a lot of experience, and even try to attend a few auctions to get a feel for how they conduct their business. Make certain to inquire about the prices that they charge for their services, as they may often be rather expensive. In certain cases, they may take as much as 10 percent of the total cost of the house, thereby reducing the amount of profit that you would earn… and in some cases, significantly reducing it. Alternatively, if you don’t want to engage an auctioneer, you can conduct the sale yourself. A qualified auctioneer may make a significant contribution to the increase in the value of a home through their expertise… However, you can run the auction yourself as long as you are explicit with bidders about the regulations of the auction, such as the beginning bid price and whether or not they must bring cash and a deposit to the auction, among other things.
- Specify whether you want an absolute or a reserve auction to be held. Following your assessment of the house auctioneering firm in Atlanta that will best fulfill your needs, decide whether you want an absolute or a reserve auction to take place. If your house does not sell at an absolute auction, there is no minimum amount that it must earn in order to be sold. This means that whatever the highest bidder offers is exactly what you will receive. Reserve auctions are ones that have a minimum bid amount, and if the bid amount does not reach the minimum bid amount, the item is not sold. However, even if it appears to be a clear decision between the two, reserve auctions are not necessarily preferable in every situation. Occasionally, if bids are not ready to go above and above the limit, the house will never sell, and you will be stuck with a house that you don’t really want. Additionally, auctions with “no reserve” (or “absolute reserve”) tend to attract more potential bidders who are seeking for a good deal… It might spell the difference between selling the house that day and not selling it at all if one of them becomes entangled in the bidding frenzy.
Consider your options carefully before making a decision, and consider what it is that you desire more than anything else. Performing an absolute auction is the faster alternative if you want to sell your home as quickly as possible in Atlanta. If that is the case, perhaps a reserve auction would be more in line with your objectives.
- Don’t forget to include any flaws in the house’s construction in your auction description. When selling your house at auction here in Atlanta, it is quite necessary to make a thorough inventory of all of the issues that your property has. Don’t leave out any issues in your home because if you do, the buyers will be able to hold you liable for any flaws that you failed to disclose prior to the auction.
- Don’t go into an auction with the expectation of a bidding war erupting and resulting in a massive profit for yourself. If you market your home at a reasonable price that you expect to earn, you won’t be too disappointed if it sells for less than you expect. It’s possible that you have an emotional relationship to the house that the other people bidding on the house do not. It is true that auctioning your Atlanta home will bring in less money than a typical real estate sale, but it is also far more convenient and will save you the agony and stress of the more traditional way.
What is it about your Atlanta home that has you considering selling it at auction?
There’s a reason you’ve ended here on this page… You’ve entertained the notion of selling your home at auction.
It may assist you in selling your home more rapidly… So why not give it a shot, you could ask?
Before you decide to put your neighborhood house up for auction, consider exploring other options.
Our organization, Georgia Fair Offer, is in the business of purchasing houses in the Atlanta area. We are not interested in listing your home; rather, we are interested in purchasing it.
- Regardless of the circumstances
- Any area of the city, and even other regions of the state of GEORGIA (GA)
- Buildings that are in poor condition, houses that are in excellent condition, and houses that require extensive repairs
- Houses with a lot of equity, as well as houses with little or no equity are available.
Our offer is fair, we can close quickly (in as little as 14 days), and you won’t have to do any work on the house. We’ll take care of everything.
If you’d like to find out how much we can pay for your house BEFORE you decide to put it up for auction, please get in touch with us.
You can call us anytime at (404) 855-0944 or just click the link below and fill out the form on the next page to start the process.
So, Is Auctioning Your House A Good Idea in Atlanta?… that’s up to you to decide. But if you want to see if working with us makes more sense first before you jump into the “auction” world… submit your info below to get started today!