How Real Estate Auctions Have Turned out to be The Perfect Platform For Real Estate Investment?

1. How Real Estate Auctions Have Turned out to be The Perfect Platform For Real Estate Investment? In the past few years, the trend of real estate auctionshas gained a lot of strength and many investors look forward to these auctions. There was a time when these auctions were considered as dishonor sales that were considered as the last resort by distressed sellers when they had no other way to liquidate a property. Today, there is a sea change in outlook and the number of auctions organized every year has increased to a considerable extent. It has given a perfect platform to genuine and serious buyers and sellers of commercial and residential parties opting for selling or buying properties directly. Real estate auctions in Florida are organized when a seller wishes to fetch a price better than available in the market. He must enjoy a strong equity position before he opts to use this platform as it will help in fetching a fair price. This platform also helps him saving money that he will have to pay

2. a sales commission. While planning to organize real estate auction, ensure that is the market is soaring high. Auction opportunity proves to be profitable when a specific genre of property is limited in supply and it is high in demand in the real estate market. Another equally profitable opportunity is when there is a decline in the market and the buyer’s interest in the conventional sales process is waning. When a real estate auction offers a property for sale, there is a sense of urgency to get interested potential buyers together and the resultant sales process paves way for competitive bidding creating a sales price. In the past, properties that were in dire condition or were subjected to foreclosures came up for real estate auctions. Today, things have changed, and sellers prefer auction to sell their homes at a price better than the market value. The reason behind this change in scenario is because of the change in belief that sellers shy away from auctioning their property at a price lesser than market value. Today, auctioneers have the right to set a minimum selling price. This rules out the risk factor involved and also save on sales commission that has to be paid to the auction house. Another major change that is being witnessed in the real estate sector is that more and more real estate owners prefer direct auction instead of seeking services of an auction house. This way, they can save sales commission payment that they were expected to pay to the auction houses. This commission was anywhere between 8-10 percent of the total value of the property. T This way, they can enjoy Pro their properties at satisfactory prices. Now, sellers need not rely on brokers and wait for a long time till the property got sold. This way, the owner can save money on maintenance expenses as well. Real Estate auctions have become the best way to fetch true and fair market value for the properties and the trend is expected to gain more strength in the coming times. bates with real estate in Georgia and sell