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Steps To Purchasing Real Estate At Auction Steps to Purchasing Property at Auction
As with any other real estate purchase, it's important to do your homework. Here are some steps we suggest:
- Try to attend several real estate auctions before you become an active bidder. This will help you familiarize yourself with the auction environment and provide a better understanding of bidding strategy
- Study the information available on the property.
- Decide whether you wish to be represented by a real estate broker. If you do, be sure to have your broker review and register with our broker participation form as soon as possible.
- Request a Property Information Package (PIP). This packet contains detailed information about the property such as property disclosure, plats, pictures, survey reports, auction terms and conditions, demographics, zoning information and floor plans.
- Visit the property on preview dates. Open houses are held approximately 1-2 weeks prior to the auction date. During property previews you are encouraged to ask questions and become familiar with all aspects of the property. Our properties are sold “as is-where is” without contingencies of any kind (other than a clear title). We strongly encourage prospective bidders to inspect the property and become familiar with all aspects of the property and auction prior to auction day.
- Review all auction documents-You should know exactly what you are bidding on and what terms and conditions you will be signing and agreeing to.
- Arrange financing, if needed. You'll want to have any needed financing arranged before auction day.
- Verify bidder registration requirements. AJ Karas Auctioneers require a cashier’s check to be eligible to register to bid. This information is available on the auctions detail page or by calling 1.877.612.8494
AJ Karas Auctioneers strictly adheres to the following:
- We specialize in real estate auctions.
- Have a proven and successful track record in real estate auctions.
- Employ professional sales staff who have earned designations and are members of state or national auctioneer organizations.
- Employ a dedicated marketing staff to research and market our auctions.
- Will provide references of satisfied customers.
- Are established and financially secure
Denver, CO
Copyright 2006-2007 AJ Karas Auctioneers, LLC. All Rights Reserved
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