Bidding on an Online Real Estate Auction
Important Topics for Buyers to Know Before Participating in an Online Real Estate Auction.
Take full advantage of any opportunities to preview the property in advance of the auction. Feel free to bring an expert with you. General contractors, inspectors, appraisers, and real estate agents have a wealth of knowledge and experience that can help you better evaluate a property’s value and your potential investment.
Buying Agent Representation
Ashland Auction Group’s agents represent the sellers. If you are seeking additional guidance from a licensed real estate agent, you will be looking to hire a buyer’s agent. If you are represented by a real estate agent, do not be afraid to ask your real estate agent to walk the property with you. As your agent, they are expected to be guiding you through the entire auction-buying process.
Understand when you will be able to gain possession of a property. Many of our sellers agree to give possession and occupancy at time of contract ratification. Although you don’t physically own the property and cannot make any improvements to it before settlement, you will want to ensure that your property is secured and your future ownership is protected.
Confirm how you will receive title. Most of the auctions through Ashland Auction Group will result in a purchase agreement where the seller is expected to convey good and marketable title, where it shall be free and clear of all liens.
Contract Review & Legal Consultation
As a buyer, you have the opportunity to view our auction terms and sample contracts. Before submitting an offer or participating in an auction, you have the opportunity to consult with legal counsel regarding the any agreement to purchase. Click to View a Auction Sample Contact