Top 10 Real Estate Auction Sites by Public Auction Finder

Top 10 Real Estate Auction Sites Your Guide to Online Real Estate Auctions. More and more, people are choosing to make real estate purchases online. Whether itâ&#x20AC;&#x2122;s a vacation property, rental property, a property to flip, or a primary residence, rather than undergo the traditional experience of combing through listings, dealing with agents or spending hours at a live auction, many have found that they can meet their real estate goals more efficiently and cost effectively through online auctions.

How are these Properties Available? For many years, properties that had been foreclosed on or seized by the government for various reasons have been auctioned off to the public both live and online. Increasingly, however, properties that are not seized or foreclosed on are being sold through online auction. For example, developers are selling new properties online, bank-owned homes and short sales are also being listed, along with commercial properties. How is a Live Real Estate Auction Different from an Online Auction? There are many benefits to online property auctions, most important of which is that the entire process is based on your schedule. Plus, you can broaden your scope of property searches to those which you may not have seen using a real estate agent. Top 10 Real Estate Auction Sites

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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: