Archive for the ‘house auction’ Category

Estate Auction

furniture auction, house auction | Posted by rosita dian
Feb 16 2010

Do Estate Auctions Interest You?

antique furniture auctions

Estate auctions seem to be the top-rated places for scouring items that may fit your house. If you are out to seek an odd chair, an old designer side table that could be turned into a center piece for your house or an antique cabinet that could be refurbished for your stylish home, estate auctions may offer you better deals than antique furniture shops.

You never know what you are going to find for sale during an estate auction and what adds to the thrill of joining such. If you are someone who makes the most out of anything you see, you may find that an estate auction is more satisfying than you first expected.

But what will assure you of a great deal with an estate auction?

Going to the auction site an hour or half hour earlier than the actual auction schedule. This will give you time to inspect the items that you might want to bid on. Also, using the inspection period will let you see close the items that you want to buy. You can also evaluate the estimated price for each item, thus helping you decide on the ceiling price you’ll give it.

While inspecting, look for the labels or manufacturers of the items you want. These will give you an approximation of its value.

Bid later in the auction. The crowd is usually largest at the beginning of the auctions. If you do not want to compete with other bidders, it is best to wait for the last parts of the auction when the crowd is thinning out. This works most effectively among people who are more interested in non-furniture items.

Do not join the bidding wars. If you want to buy a certain piece of furniture so badly, chances are there is someone in the crowd who wants it too. You’ll know this for certain if someone in the crowd tries to outbid you.

In the end, there will only be you and that bidder (and probably someone else) who’ll be left bidding on an item. If this is the case, you can try to outbid him as much as you want but once the price crosses over the actual value of the item, pull the stops and let that person win it. An item is only as good as its original value.

Check out the other guide on silent auction fundraising or auto auction

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Real Estate Auction

house auction | Posted by rosita dian
Feb 15 2010

How to Profit on Selling Real Estate at Auctions

real estate auctions

Auctions of real estate are not only done by people who are distressed about their mortgage fees but also by people who want to make a profit on their own properties. And what is the best way to do it? Real estate auctions.

Real estate auctions create the buzz and interest that may not be had through conventional selling on the open market. Sometimes, this type of merchandising your property may even increase its actual value due to bidding wars that often happen during auctions and by the attention the auction gets. Furthermore, bidding occurs only in a day so any willing buyers will have to compete with other more willing buyers to get the property they want.

Here’s how you can profit from selling your real estate:

PREPARATION

To maximize profit, prepare your house for selling. Spruce up the property and make it look good to willing buyers. Paint the exterior and interior, landscape the garden, clean up and put away things that do not look good around your house. These little investments will go a long way in increasing your home’s value.

EVALUATION

Have your house evaluated by a realtor or real estate agent. If you do not want to throw in some cash, try to research on the general value of the properties in your neighborhood. Compare it against houses with similar amenities. This will give you a rough estimate of how much your house is worth.

AUCTIONEER

Prepare a meeting with professional auctioneer who offers similar properties like yours. This way you’ll get the best value and maximized exposure. Ask for several references. Also, try to attend some of his auctions so you’ll know the potential buying capacity of his regular bidders, his performance and his capacity to sell your house.

Then hire the best auctioneer that you can afford. Your best choice may require you to pay a lot more than hiring regular auctioneers. However the best people in this business have the best capacity to attract more interested people in buying your property.

Before signing any contract or agreement be sure to read the fine print. You never know what you will run in to. Also, be sure to note how much commission you will give him and other expenses that you may have to pay during the entire process.

Check out the other guide on fundraising event or charity fundraising

Lastly, with the help of the auctioneer set a reserve price for your house. This is the least amount of money that you will get from auctioning your house.

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House For Auction

house auction | Posted by rosita dian
Feb 14 2010

How to Sell Your House at an Auction

property auction house

An auction is a popular selling method for houses, especially for the owners of foreclosed homes, due to its many benefits. It is the quickest way with the highest guarantee of sale. Here are some guidelines that will help you determine whether you should auction your house or not.

Which Properties to Sell

There are several types of properties that are best sold at auctions rather than under normal circumstances. They include:

Houses that are hard to sell through conventional means:  There are certain types of houses that simply can’t be sold through the open market fast. These include those that are in really bad shape and have received no repairs over the years, properties that have very unorthodox designs and those that don’t receive good advertisement. All of these types could have a fair chance of getting sold through an auction.

Houses that have no definite value:  These are houses that are marked for their distinctiveness but are rather hard to sell on the open market.

Foreclosed houses:  Owners of foreclosed homes usually resort to auctioning their houses for faster sale to compensate the expenses, the unpaid bills and sometimes even to save the house itself from being foreclosed.

Highly-demanded properties:  Popular houses get exceedingly higher selling prices when auctioned.

Evaluation Period

This entails the process of assessing your property and the potential auctioneer/s. Before you decide to sell it at auction, it is best to shop around for auction houses that fit your requirements. Have your property evaluated first so you’ll know what is the reserve price of your house and the total value you should get after the auction. Then, check the price range of the properties that the auctioneer offers. This way, you’ll be able to increase the possibility of getting a satisfactory deal for your property.

Properties at auctions are sold as-is but the owner has the option to increase its value first. For example, repairs, doing a bit of cleaning and restoring the property will actually increase its selling price.

Knowing the Cost

Auctioneers don’t come free. They charge their clients for the brochures, advertisements and the general services they provide whether the house is sold or not. Also, you might pay a minimum commission of 2.5% from the sale of the house. To get around the unsolicited expenses and the payments that you may not expect before and after the auction, negotiate well with the auctioneer and read everything before signing anything.

Selling Proper

Before offering the house for auction, set the reserve price first – this is the starting bid for the property. Consult with your auctioneer before setting the reserve price. Second, arrange the contract. Finally, prepare the property for viewing by willing bidders.

Selling itself will occur during the auction. Potential buyers will bid on it. The one with the highest bid wins and the sale is official and legally binding.

Check out the other guide on reverse auction website or fundraising auction

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House Auction

house auction | Posted by rosita dian
Feb 13 2010

Tips on Finding the Right Auction House

home for auction

house for auction

There are so many police auctions, government auctions, and privately hosted auctions happening across the country. And choosing one may be a bit confusing. Since the type of auction house will make the difference between getting the best deal and going home with nothing, finding the right one is as important as knowing how to bid correctly.

1.         Know what you want.

Not all auction houses sell everything you need. Some only sell properties while others focus on certain items such as cars, antiques, artworks, memorabilia or jewelry. Police and government auctions sell various things including real estate properties, vehicles, boats, motorcycles, home furnishings, jewelry, and consumer electronics among others. When you know what you want to buy, you’ll know where to go.

2.         Do some research.

Finding a public auction is not rocket science. You don’t need a degree to find one. Search online and “off-line”. Different auction companies and auction houses have websites and newspaper ads where you can get information on when and where the next auction will be. Government and police agencies announce their auction schedules online and on their bulletin boards.

Auctions are also announced in local newspapers especially if the auctioneer is holding it nearby. Do not forget your yellow pages. Auction companies have listings in your dusty old phone book.

Get auction brochures. They contain listings of the items that are about to go on sale which will give you an initial idea on whether the items you are looking for will be sold at the auction or not. In addition, short descriptions are also included in the brochures so that potential buyers get important information on the auction goods.

3.         Ask a friend.

Good things are not always a hard find. Sometimes, all you need to do is to ask your neighbor, your officemate or your relative if they know any auction houses.

4.         Choose within your proximity.

The main reason why you are choosing auctions over other ways of purchasing goods is because you want to save money. So keep your expenses monitored. The amount to spend on the item is not limited to the final sale. It includes the cost of gasoline you spend on the commute, the food you spend for the day, and the time you waste to participate in the auction, not to mention the depreciation of your car on your way to the auction house and back. In order to keep your expenses low, choose an auction house nearest you.

Check out the other guide on online reverse auction or reverse auctions

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