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How to Buy Real Estate at Auction
 
How to Buy Real Estate at Auction by Rachel Rabinowitz
 
For the uninitiated, the prospect of purchasing real estate at auction can be daunting. So you’ve seen an advertised auction property and you’d like to take a closer look? Here are some best practices for pursuing real estate at auction.
 
 ·       Engage the auction firm. The majority of our inquiries come from consumers and real estate professionals that have little or no experience with real estate auctions. We are glad that you are interested in the auction, and want to provide you with as much information as possible.
 
 ·       Identify the auction terms, read them carefully, and note any and all questions you may have. There are many different types of auctions so do not make assumptions based on previous experiences. Note what is required to participate in the auction. In most cases you will need to bring certified funds to the auction to bid on the property.
 
 ·       Be aware of Agency. The auction firm represents the Seller. You have the option of being represented by your own agent, typically at no additional cost to you. Your agent can help guide you through the ... more

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