Before diving in, weigh the potential "steal" against the very real risks. Buying auction properties: What to know before you bid
: The auctioneer starts with a published minimum price (e.g., $100,000). All bids must exceed this number to be considered. buying a home at auction
: The seller has a hidden "reserve" price. Even if you are the highest bidder, the seller can reject your offer if it doesn't hit their secret number. Pros & Cons: Is the Risk Worth It? Before diving in, weigh the potential "steal" against
Buying a home at auction can be an exhilarating way to land a property at a significant discount, sometimes well below market value. However, the fast-paced environment and "as-is" nature of these sales mean it isn't for the faint of heart. Before diving in