Essentials Reviews Blog

Selling Properties Quickly

Auction your house instead of using a broker. Don’t roll your eyes just yet! It has been shown that auctioning a house often brings a full market price and offers you the chance to sell it quickly (in fact, if you need to sell your investment property quickly, auctioning may be the best way to go). Most likely, you can close on a house sold at auction within two or three months after first contacting an auctioneer. Many houses can sit three, six, even more months on the market before the right buyer comes along. Then the buyer will typically need a minimum of 45 days to close. Auctions, if done correctly (good advertising and a good auctioneer), can be quick and profitable. You can set a minimum price to protect yourself (that is, making sure the minimum price is more than your mortgage amount). Keep in mind, also, that you have to pay for advertising and you have to pay the auctioneer an amount almost equal to what you would pay a commissioned real estate broker. Realize, however, that the advantage to an auction is speed; if you need out quickly, an auction may be the way to go.