Buyer's Benefits at Auction
About Auctions
Potential buyer has the availability of acquiring a "due diligence" packet supplied by the auction firm. This packet contains some information on the property to be used as a guide for the bidder to further investigate, in order to make a more informed decision to purchase.
- Buyer is competing in an open forum with other buyers, all on the same playing field
- Buyer determines the value
- Buyer will not overpay, pay only what he/she is willing to give
- Most, if not all, inspections have been completed by seller
- Long negotiation period eliminated
- Knowing immediately whether the offer is accepted
- Rapid closing, usually 30 – 45 days from auction event
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