HOW TO BUY REAL ESTATE AT AUCTION

The following is a list of steps to follow when preparing to participate in an onsite auction. We hope that they prove to be helpful tips that make your participation in a BAR NONE Real Estate auction successful, easy and enjoyable.

Contact us – Our professional staff is prepared to supply you with information, over the telephone 866-372-1700 or email reinfo@barnoneauction concerning specific properties as well as the auction process itself.

Inspect the property - Find out as much as you can about the property. Take full advantage of any inspections conducted for the properties you are interested in. This will allow you or your representative to see first hand what you are bidding on and help determine value and desirability. This allows you to bid with confidence.

Pre-qualify yourself - Increase your comfort level by knowing your mortgage qualifications. Even before you decide on a property to buy, you should pre-qualify yourself by utilizing the services of our Preferred Lender. Feel free to call us to help calculate your mortgage payment based on your anticipated purchase price. There is never a mortgage contingency in a real estate auction. It is best to know you can pay for the property before you bid. You should always prepare to bid with confidence!

Plan your bid strategy - Determine your bid limit after examination of the property and all available information. Don't be afraid to bid early. Most other bidders will be willing to pay just as much as you. The one who bids that number first, wins that day.

Register to bid - On auction day it is to your advantage to arrive at the auction site 1 hour before the auction. By doing so, you will have more time to consult with on-site staff who are prepared to assist you with your last minute questions regarding the property and the auction process. Upon completion of registration you will receive a Bid Packet containing your bid number, Terms of Sale, & auction catalog with all property listings.

Bring required deposit - If you are the successful high bidder at an auction, you will be required to affirm your bid with a signature and deposit. All deposits must be in earnest money form, i.e. cash, certified or bank check. Deposit requirements and amounts are clearly listed in the "TERMS" section of all BAR NONE REAL ESTATE advertising.

Bid Aggressively - Until you have won or reached your limit. There can be only one winning bidder for the property. You cannot buy at your price unless you BID your price.

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