5 Reasons to Sell Your Home at an Auction

Home AuctionWhen you make the decision to put your home up for sale, for any reason, what will be your first step? We are guessing your first instinct is probably not to call your local auctioneer—but maybe it should be.

Selling a home at auction is more commonplace than you might think, especially if you have fallen for the misconception that auctions are associated with distressed properties. In fact, many beautiful, well maintained properties are sold via auction all the time, from condominiums and farmhouses to large estates and small residential homes. Here are five of the many reasons to sell your home at an auction:

You get to pick your sale day.
If your home is on the real estate market, you have no conceivable way of accurately predicting the date your home will sell. In some circumstances, your home may remain on the market for months. When you work with an auctioneer to sell your home, you are setting your auction date. This gives you a tangible sale date to work around and help inform your future plans.

You get to pick your closing day, rather than negotiating with buyers.
When you sell your home at auction—much like choosing your sale day—you will also have a greater ability to choose your closing data.

Your auctioneer will attract interested and qualified buyers to your home.
Unlike when your home is on the market, if your home is up for sale at auction, you will have a specialized marketing plan created specifically to drive interest and buyers to bid on your home.

Motivated buyers will compete to drive the sale price of your home.
On auction day, all of the buyers that your auctioneer attracted will be competitively bidding with one another to own your home. Compare this to an isolated, sporadic offer from an interested buyer, with no competition. At an auction, the final price of your home will be driven by buyer demand.

Your overall costs will likely be reduced.
While waiting for your home to sell on the traditional real estate market, you will incur the costs of more mortgage payments and maintenance issues, which will certainly add up over time. But, when you sell at auction, you know your sale date, and the entire process is usually expedited—saving you time and money.

If you are considering selling your home at auction, call our experienced team today to learn more. We will answer all of your questions about the auction process. Call O’Reilly Auctions today!