Have you seen the home auction signs popping up in yards around Anytown? Are you interested in bidding in a St. George realty auction? First off, here are the pros of auction transactions:
1) Motivated Seller
Salt Lake City foreclosures must be sold. Period.
2) Low Selling Price
This is the main reason Provo property buyers are interested in homes auctions. Many investment properties auctioned in the Ogden area in the past two years have sold for less than 75% of non-distressed Ogden properties.
3) Transparent Bidding Process
With most Salt Lake City home auction transactions, you know exactly what bids have been placed.
4) Fast Sale and Closing
Provo foreclosures are wrapped up quickly once a bid is accepted.
Home auctions are more complicated than many Anytown home buyers realize. Here are a few of the risks:
1) Homes are sold ‘as is’ and may need expensive repairs.
2) Sales are final and you must pay with cash.
3) You may have to evict the sales homes current residents. This is not pleasant.
If you are considering bidding at a Salt Lake City home auction, you need a Anytown real estate professional on your side. Without an experienced agent representing your interests, you may make costly mistakes. Give me a call at 801.938.3466 and we can discuss the ins and outs of Salt Lake City bank-owned property auctions. I can also provide you with a comprehensive Utah foreclosure realestate map.