How do I buy at Auction?
The highest bidder is the buyer at an auction. Some auctions are contingent upon seller acceptance and others are reserve auctions. In the first case, that means that the owner has to approve the final bid as an acceptable price. The second case means that the owner has pre-set an acceptable price and the auctioneer will say whether that amount has been reached. Most auctions, however, are "no reserve" which means that no matter what the final price is, the highest bidder will win.
Auctions such as real estate take a little bit longer (about 30 days for real estate and 10 to 20 days for vehicles and machinery) because of the title work involved. For other auctions the property can be transferred very quickly or immediately.
Why buy at Auction?
Contact us with any questions or comments you might have or to find out about future auctions.