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Is an auction a sensible option for selling our home?

  • August 28 2012 - Quincy
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Answers (2)

An auction can be a sensible option depending on the circumstances. In Pa it has been common place to sell estates at auction including the real estate.  Often times the heirs want to have things settled quickly and not fool around with maintaining a property while it is listed with a Realtor.

 The out come of an auction is unpredictable. 

Most people attend an auction looking to get a deal.  You do need to put a reserve on the property.  You must also consider what up front fees the auction company may charge you, or other fees they charge if an acceptable price is not reached.
  • August 30 2012
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Real estate auctions typically happen in more rural areas where it can take a long time to sell a home. In urban settings it is more common to sell distressed (as is) properties at auction.

If you opt to go the auction route, I would suggest placing a 'reserve' price. Otherwise you could end up being obligated to sell for far less than the value of the home.
  • August 28 2012
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