In this article I'll be going through information including the following:
Unique Elements of Auctions
Auction Tips
Sites to check for auctions
Example
1. Unique Elements of Auctions:
Cash Only More Often Than Typical Properties
Reserves
Buyer Premiums
High Earnest Money Deposits
No Showings, Inspections, or Appraisals Allowed More Often Than Typical Properties
Low % on Local MLS vs Typical Listings
2. Auction Tips:
Don't Casually Browse
Don't Rely Exclusively on Agent Searches
Use an Honest & Knowledgeable Buyer's Agent
Use an Agent w/ Great Gadgets for Visually Seeing Properties
Bad Marketing Means a Better Deal Usually, But More Time
If No Viewing or Inspections are Allowed, Be Prepared to Take a Significant Financial Hit
More Details if No Showings Allowed
Go to the Auction Website
Save a PDF of the Auction Information
3. Sites to Check for Auctions:
Zillow.com (17 properties in VB on 10.25.23)
More National Websites
Websites Not National But Include or Exclusively SE VA
Lists of Additional Websites
Auction sites that do NOT have real estate
Zillow Example
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