Real Estate Broker/Owner with Independent Real Estate Broker DRE#00972295
Buying a home at an Auction or making a Traditional Offer--which is better?
Are you interested in purchasing a home and thought that buying at an Auction would get you a better deal!
Well, maybe---maybe not! You are taking a big step--you could say it might be one of the biggest steps in your life!
Why would you buy a home like you would a car
or a Tiffany Lampor even bottle of wine
-does that make sense to you?
There's nothing wrong with buying a home at an auction--if you don't mind over paying and getting under represented! Remember that at an Auction--you are at the Seller's mercy, and you run the risk of getting over emotional and paying more than you should. And don't forget about the hidden fees these auction place charge.
Don't get me wrong, I love auctions but not to buy real estate. I have attended many auctions and always see the same thing; people getting wrapped up in the euphoria and excitement that they throw out all logic. These Auction places make it sound easy and exciting---but is it? You are making the most important purchase of your life-unless you happen to be an investor and for you buying homes is like buying a pair of shoes!
But if you are a first time buyer or move-up buyer-be cautious. Think Twice!