Why Buy At An Auction?

– Buyers determine the purchase price through competitive bidding
– Purchasing and closing dates are known
– Buyer knows the seller is committed to sell
– Auctions eliminate uncertainty of long negotiation periods
– Buyers know they are competing fairly and on the same terms as all other buyers
– Buyers receive comprehensive information on property via a property information package
– Seeing other bidders willing to pay a similar price reassures a buyer they are not paying too much
– Sellers will often sell a property for less at auction because the certainty of sale, time value of money, and lack of contingencies outweigh the option of waiting months or maybe years for a higher offer