top 10 real estate auction sites.pdf
Do Your Research and Put All Your Ducks in a Row.
When you’re ready to explore the online real estate auction route, there are some
amazing property deals to be had. These are some points to consider:
(a) Even before you begin researching, know your end goal and ask yourself these
questions: What type of property are you looking for and what’s your timeline. Do
you have access to the required funds? And even, do you have a network of contractors for repairs or renovations?
(b) Do some initial prep work so your experience runs smoothly and hiccups are
avoided. For example, register with your chosen site, ensure your financing is in
place and all the necessary paperwork in order. Paperwork required can include
proof of funds (i.e. recent bank or brokerage statements), and entity documents (if
you are bidding under a company name or entity). Each site should tell you exactly
what documents are required to finalize a purchase.
(c) Once you’ve registered on your selected auction site, look around at the properties available. Most sites provide a lot of detailed information about the properties they list.
(d) Financing: Find out what the minimum bids are, how much you’ll need to put
down and whether it is non-refundable. Keep in mind that you may need to factor
in a Buyer’s Premium which is typically a small percentage of the winning bid.
(e) And last but not least, consider title insurance to find any kind of ownership
issues on the property which will save you headaches in the long-run.
Let’s get started
Here is a list of the top online real estate auction sites:
Top 10 Real Estate
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