You can sell your California house at auction if you follow the steps in this article…
California and other counties, including San Joaquin, Sacramento, and Calaveras, have many advantages to selling your home at auction, including the ability to sell your home fast, without paying real estate commissions, and often with a profit as well.
In contrast to traditional real estate sales through an agent or real estate investment company such as MCB Homes Inc., selling your home through an auction has some disadvantages.
“Is Auctioning Your House A Good Idea in California?” is the question that I will discuss in this article as I discuss some of the dos and don’ts of auctioning your home in California and surrounding areas.”
Is Auctioning Your House A Good Idea in California?
If you plan to auction off your California home, be aware that you need to make several preparations before the actual auction takes place.
Here are the “Do’s”
- In order to have your house auctioned, you must first find an auctioneer in California. You can find a lot of auctioneering companies today, so do your research before selecting one to sell your house. Try looking in your local phone book, asking for a referral, or visiting the National Auctioneers Association website and searching for auctioneers in your area. Consider attending a few auctions to get a sense of how they work. Choose those with plenty of experience. Find out how much they charge for their services, as they can sometimes be quite high. In some instances they may take up to ten percent of the house’s cost, greatly reducing the amount of profit that you will receive… sometimes much lower. Or heck, if you don’t want to hire an auctioneer… you can do it yourself. If you are clear about the rules of the auction with bidders, the starting bid price, whether they have to pay cash and a deposit, etc., a good auctioneer can really help drive the price of a house up. However, you can run the auction yourself.
- How will you run the auction – Absolute or Reserve? When you feel you’ve selected the best house auctioneering company in California, determine whether you want an absolute or a reserve auction. You do not need to earn a specific amount to sell your house at absolute auctions. The highest bidder gets the item. In reserve auctions, there is a minimum price, and if it does not reach that price, it is not sold.
While it may seem like a clear choice between the two, don’t assume that reserve auctions are always better. Occasionally, if no one is willing to reach the limit, the house won’t sell and you’ll be stuck with a house you don’t want. In addition, auctions that include no reserve (or absolute) tend to attract more potential buyers who are looking for a great deal… and if one of them gets caught up in the bidding frenzy… that could be the difference between selling the house on that day or not.
Consider your options carefully, and decide what it is that you want more. You should do an absolute auction in California if you want to sell your house quickly. It may be more suited to your goals to have a reserve auction. - When it comes to selling your house at auction here in California, it’s really important to list all the problems that your house has in your auction description. You shouldn’t leave out any flaws about your house, because if you do, the buyers can sue you for any defects you didn’t disclose before the auction.
Last…
- Don’t go into an auction with fantasies of a bidding war erupting, leaving you with an enormous profit. Place a realistic price that you hope to earn, and don’t be too disappointed if your house sells for less than you think it’s worth. You may have an emotional attachment to the house that the people bidding on the house don’t have. Auctioning your house in California may bring in less money than a real estate sale, but it is relatively quick and can spare you the heartache and stress of the more traditional approach.
Why Are You Thinking About Auctioning Your California House Anyway?
You came to this article for a reason… you’ve been thinking about auctioning your house.
Perhaps you will be able to sell your house more quickly if you use this method. Right?
Consider other options before you auction off your local house.
California is where our company, MCB Homes Inc., purchases houses. We’re not interested in listing your house… we’re interested in buying it.
In California, we buy houses…
- Regardless of the circumstances
- In any part of town or even in other parts of California
- There are ugly houses, pretty houses, houses in great shape, and houses that need a lot of repairs
- The equity of a house can be high or low
This short article on auctions dos and don’ts applies to all cities in California State including Modesto, Lodi, Sacramento, Turlock, Valley Springs, Salida, and Oakdale.
We’ll pay a fair price, we can close fast (in as little as 7 days), and you won’t have to fix up the house at all.
If you’d like to see what we can pay for your house BEFORE you decide to auction it off… reach out to us.
You can call us anytime at (209) 743-0602 or just click the link below and fill out the form on the next page to start the process.
So, Is Auctioning Your House A Good Idea in California?… that’s up to you to decide. But if you want to see if working with us makes more sense first before you jump into the “auction” world… submit your info below to get started today!
Get A Cash Offer On Your California Area House Here >>
Here’s another great read that we found when writing this article on some more tips and questions you should ask yourself before you auction off your house.