Buyer Advantages

Advantages of Buying Property at Auction

Auctions create competition among buyers. The auction process causes multiple buyers to compete at the same time and place to purchase property. Buyers like the pace, competition and anticipated bargains at auctions. Competitive bidding brings true value. It often draws prices higher than the seller's expectations.

• Can set own purchase price
• Purchase property at a fair market value
• Buyers feel better about purchase knowing there is a contending bid
  just one increment under the purchase price
• Eliminates potential of long negotiations
• Reduces time to purchase property
• No worries about contingencies because purchasing and closing dates are known
• Buyers know property owners are motivated to sell

Other Benefits to the Buyer

• Smart investments are made as properties are purchased at fair market value through competitive bidding
• The buyer knows the seller is committed to sell
• Buyers determine the purchase price
• Auctions eliminate long negotiation periods
• Auctions reduce time to purchase property
• Purchasing and closing dates are known
• Buyers know they are competing fairly and on the same terms as all other buyers
• Buyers receive comprehensive information on property via due diligence packet