OVERVIEW OF BUYING AT AUCTION

One of the great advantages of being a buyer and participating at an auction is that you can name your own price. How do bidders know they are bidding the right price? By understanding the opportunities the real estate offers buyers in the marketplace.

Dutton Auction and Realty Co. supplies potential buyers with compiled property information in what we call a Bidders Information Packet. We provide multiple opportunities to inspect the properties and review the Bidders Information Packet with description, legal, and financial materials with all disclosures.

By the time the auction occurs, every qualified, serious bidder will be able to confidently assess the property’s value and bid with equal certainty.

In an auction setting, what are the advantages to the buyer?

• The seller is committed to selling
• Buyers can set their own price
• The property is sold at a fair market price
• The auction situation translates to negotiating power for buyers
• Buyers may have a choice of several properties at once
• Long negotiation periods are eliminated
• The time it takes to purchase property is reduced
• Because purchasing and closing dates are known, buyers do not need to worry about contingencies.