Buying at Auction

Auctions are fun and exciting events. Everybody is welcome whether your there to buy or just to see how everything happens. Auctions provide buyers a great deal of advantages.

• You determine value and price your willing to pay
• You decide when to bid
• Don’t negotiate with the seller, compete with other buyers and win.
• Auctions allow for quick closings
• Preview period allows time for you to complete due diligence.
• At Absolute Auctions you know the property is selling to the highest bidder.

Due Diligence

Auction properties are sold As-Is and with All Faults. There are no warranties expressed or implied of any kind. We like to say “What you see is what you get, and what you don’t see, you get that too!” Auctions are non-contingent sales! They are not subject to post sale home inspections, pest inspections appraisals, and financing. Buyers are responsible for doing their homework prior to the auction during preview periods. Buyers are responsible for making sure they have the financial ability to complete the sale per the terms and conditions.

Registration

Registration is easy! On the day of the auction arrive early and see the clerk. They will ask to see your driver’s license and ask you to sign a “terms and conditions” form. A small number of auctions require a cashier’s check or deposit into the auction company’s escrow account to qualify you as a bidder. Brokers/Agents click on the Broker Participation tab to find out how you can register as a referring realtor.

Bidding at the Auction

The auctioneer will typically have some opening remarks prior to the opening for bids. Pay attention! Any information given takes precedence over prior printed and online materials. When the auctioneer opens the bidding attract the attention of the auctioneer or bidders assistant to place your bid. Auctions move quickly so don’t wait or hesitate to place your bid. The auctioneer will continue to accept bids until no more bids are made, and declare the property SOLD! In the event of tie bids or any disputes they will be resolved by the Auctioneer who is the Final Authority. Immediately upon the conclusion of the auction the successful bidder signs the auction purchase contract and makes their earnest money deposit.

Closing

The buyer is responsible for engaging a real estate attorney to run the title on their behalf and at their expense. The closing attorney will coordinate with Halfhill Auction Group to arrange the time and place to close transaction and transfer title.