Auction Date and Location are Announced
Properties are placed in the auction and on RealEstateAuctions.com via an exclusive listing contract with sellers. Our team of auction specialists works with sellers to illustrate all the benefits of auctions, explain fees, procedures, etc. Our specialists also guide sellers about how to choose the best type of auction to best fit the property and the goals of the seller. See explanation of the Main Types of Auctions
Saturation Marketing Begins
No other firm markets like RealEstateAuctions.com. Billboards (stationary and mobile), TV, radio, newspaper, direct mail, multi-layered social media and Internet marketing all are vigorously employed to blanket the local market with announcements of the upcoming auction and the properties in the event.
Free Buyers’ Seminars Are Scheduled
These valuable sessions offer buyers a wealth of information about the auction process, what to expect, how to prepare and more.
Open Houses are Held
Sometimes referred to as “on-sites”, the open houses offer potential buyers the opportunity to inspect the property and obtain a Bidder’s Information Packet which contains all the property details, disclosures, Auction Terms and Conditions, sample contract and more (small fee and registration is required for the packet). More than one inspection opportunity is typically scheduled for each property.
Potential Buyers Get Prequalified.
In order to bid, participants must be prepared to purchase with cash or be prequalified for financing. Closings must take place within 30-45 days and there are no financing contingencies.