Probate Home SolutionsAuction 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.
How do I participate in an auction?
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.
If I am the highest bidder, how and when do I pay?
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 original site states that 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.
Can I finance a purchase?
Yes. The original site states that buyers have up to 37 days to close.
Will I receive clear title?
The original site states that, upon closing, the buyer receives a general warranty deed and title protection against liens, mortgages and past-due taxes.
Will I pay a buyer premium?
The original site states that its auctions have no buyer premium or auction fee, so the winning bid is the purchase price.
Can I inspect or evaluate the home?
Yes, but the original site states that there are no inspection or financing contingencies and each auctioned property is sold as-is, where-is.
When can I move into the home?
As with most home closings, possession and keys are provided after the transaction closes.