Selling homes at auction is an ever-increasing practice in America, including the Tampa or Pasco Area area. That reason is the ability to unload and sell my house fast without the need to involve a real estate agent or pay their fees. In fact, selling a house at auction can often net homeowners a profit.
While it’s a quick option, there are some drawbacks to auctioning a home instead of going through the traditional home selling route or using a real estate investment company such as Easy Sale Homebuyers.
Should I sell my Tampa or Pasco Area house fast through the auction route?
Before considering the auctioning route to sell my house for cash, there are a few things you must do to ready it before the big day.
Find A Tampa or Pasco Area Auctioneer
You need to hire an auctioneer to actually conduct the auction. There are several auctioneering companies in Tampa or Pasco Area. Make sure to research each one to ensure they can auction off your home. How can you find an auctioneer?
- Get referrals
- Use the local phone book
- Conduct a Google search
- Use the National Auctioneers Association website
What you’re looking for is someone with experience. In your research, go to some auctions to see how things operate.
Learn what services they provide and the fees charged. Don’t be too shocked by the sticker price, as auctioneers can charge a pretty penny (10% of the home’s selling cost). This can cut into your profits.
With a little bit of research, you can auction the house off for yourself. A professional auctioneer can increase a home’s price, but if you choose the do-it-yourself route, learn the rules about auctioning with bidders, what the starting price should be and if you’ll require a deposit on the home or if you want all cash after the bidding ends.
Choose Your Auction Type
Figure out what type of auction – absolute or reserve – you would like to have. After choosing your Tampa or Pasco Area area auction house, consider what type will be best for selling your home. What is the difference between absolute and reserve?
- Reserve means there is a minimum limit, and a failure to reach that minimum means the house remains unsold.
- Absolute means there has been no set minimum limit, and the highest bid will take possession, and you’ll get the bid amount.
Never assume one auction type is better than the other. After all, reserve auctions can result in a home that never sells if the bidders fail to reach the minimum. Absolute auctions often bring in bidders looking for deals to take advantage of. They both have their pros and cons. You could end up selling my house fast or be stuck with it for longer.
Carefully consider what kind of auction you want to have before making any decision. What do you want more from the experience? If your goal is to sell my Tampa or Pasco Area house fast, go with the absolute auction. If you’re not in that much of a hurry, you may want to consider the reserve auction.
Share Details About The House
You need to include any faults about the home in the auction description. When it comes to auctioning homes in Tampa or Pasco Area, you must highlight all the problems in the home or else the new owners could legally come after you for any faults not listed at the time of the auction.
Never Assume A Bidding War Will Occur
It would be nice if a bidding war would occur for your home, but that doesn’t tend to happen. Therefore, you need to be realistic about the price you’ll accept and don’t be too upset when the house is sold for less than you believe it should be.
Remember, what you feel the house should be sold at is based on your own feelings and emotional attachment. The bidders do not, so they are more objective about what the house is worth.
A Tampa or Pasco Area home auction isn’t going to bring in the kind of money a real estate sale will, but it’s a fast process and alleviates the stress that other approaches often cause.
Why Are You Considering An Auction For Your Home In Tampa or Pasco Area?
If you’ve considered “how to sell my house fast” with an auction, there is a big reason for it. However, before you settle on the method to sell my house fast, you may want to look at another option.
One such option is Easy Sale Homebuyers in Florida. We purchase homes in the Tampa or Pasco Area area, not to list them but to buy them from distressed homeowners. The best part about our services is:
- We buy homes no matter their condition
- We buy homes in any area of the town (and other Florida cities)
- We buy homes that look good or are in the worst possible shape
We buy homes that have little or a lot of equity
We buy your home for a fair price and close quickly (in seven days or less), and you can leave the home as-is.
Give us a call to see what kind of offer we can give you on your home. Call us at 407-334-8482. Or, you can fill out our form to begin the buying process.
Auctioning your Tampa or Pasco Area home may or may not be the best thing, but with us, you can easily sell my house fast and for cash. You also don’t have to deal with auctioneers or handling the gig yourself.