Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

Auctions

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Auctions

    Has anyone ever bought a house at auction? I was just wondering how it all worked? I don't see how you could actully look at the house before you bought it. This would make me nervous. I guess if you were a person that bought and sold houses alot and could turn them around it would make sense.

  • #2
    I haven't, but I've been tempted a few times LOL. I think you've got to really do your homework and know what you're getting into. Prudence has always won out in my case.

    Comment


    • #3
      I have actually seen some nice ones but only pictures from a police auction. But have never bid on one. Of course I don't have the money to really do something like this.

      Comment


      • #4
        Auctions

        I have never bought a house at auction before. But I have a brother-law that has bought quite a few that way. And I was really surprised some of them were really nice.

        Comment


        • #5
          In my area people do sometimes buy nice houses through auctions. They are usually able to go look at the house before the day of the auction.

          Comment


          • #6
            Ive never been to a house auction. Does it operate the same as a normal auction? :P

            I hear $50,000! $100,000! $500,000!

            Comment


            • #7
              Originally posted by Chronotrigga View Post
              Ive never been to a house auction. Does it operate the same as a normal auction? :P

              I hear $50,000! $100,000! $500,000!
              Actually it did in the case of my grandparents' house, yes. People who may have been interested did their walk-throughs and inspections, etc. prior to the auction so there were really no surprises. I *think* sometimes the homes may be sold by private or closed bid, but the one I experienced was auctioned after everything else at the estate sale was sold.

              Comment


              • #8
                Thanks for the information. I'm glad to see that you can walk through them before the auction if you are interested. Thanks again.

                Comment


                • #9
                  I believe you are able to view a property before an auction - but obviously you need to have a really good eye on what you're looking for such as being able to accurately appriase the property's actual market value at time of sale, cost of repairs and development, plus potential house value once done up.

                  There's also the issue of saleability, such as how easy or difficult the property could be to sell. Bad areas and low demand are something you'd need to know before an auction in my opinion.

                  Comment

                  Working...
                  X