Auction FAQ
Team Roberts at RE/MAX Realtec offers several real-estate options. The auction option is intended for homeowners who want a definite sale date and do not want to repair the property before sale. Auctions are as-is, where-is and may include a reserve price.
Auctioning a home can attract a range of buyers, from first-time homeowners to cash investors. A reserve price can serve as a safety net, while the winning bidder is expected to complete the purchase on the stated timeline.
All auctions are live at the property being sold on the listed day and time. You or your written designated bidder must be at the live auction to bid. At the time this project was created, phone and internet bids were not accepted.
At the end of the auction, the winning bidder must make a deposit to the title agency equal to 5% of the winning bid. The deposit may be made by personal or company check and is non-refundable. Reserve-auction terms may affect whether the seller accepts the winning bid.
Yes. Buyers have up to 37 days to close.
Upon closing, the buyer receives a general warranty deed and title protection against liens, mortgages and past-due taxes.
No. Auctions have no buyer premium or auction fee, so the winning bid is the purchase price.
Yes, but there are no inspection or financing contingencies.
Each auctioned property is sold as-is, where-is.
As with most home closings, possession and keys are provided after the transaction closes.
Important: Auction procedures, contracts and timelines can change. Confirm all current terms in the property-specific auction documents before relying on this page.