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4 Simple Steps for Buying at Auction

4 Simple Steps for Buying at Auction

1. Visit the Property

Make sure the property is right for you. Get to know it. Drive through the neighborhood at different times of day. Your Harcourts Realtor will hold open houses throughout the campaign. These are perfect opportunities for  you to visit and receive all the information you need.


2. Do Your Research

Standard auction Terms of Sale are not subject to any contingencies, and are sold on an “as is” basis. The Harcourts Realtor will make comprehensive property information and disclosures available; however, you’re required to complete your own due diligence and be able to close on the date in the contract. Be sure to familiarize yourself with the Terms and Conditions of sale before you bid. Terms and Conditions vary slightly for each property.


3. Arrange the Deposit

Deposit terms vary from property to property. Because of this, pay close attention to the auction terms and conditions as the deposit will often be required to be paid on the day of the auction or before.


4. Register to Bid

Most importantly: don’t forget to register. You can obtain all paperwork from the listing agent prior to auction. You can even register someone else to bid on your behalf if you aren’t able to make it to auction day. Normally, registration must be completed and submitted the business day prior to auction day.


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Compare Your Options: Auction Vs. Traditional Listing