Whatever your reasons are for selling your property, there are more opportunities than ever to secure an offer at top dollar. As real estate auctions have seen increasing success, the decision to go this route has become more prevalent among homeowners. However, there are still many questions sellers have about the auction process. Read on to find out more about this increasingly popular selling option. 

4 Common Questions Regarding Property Auctions. 

What Are the Benefits of Selling My Property at Auction?

As an auction seller, you will reap the rewards of a quick closing and hassle-free process. Your property will gain maximum exposure, with the ability to attract a great deal of interested buyers. The more buyers who attend the auction, the better the chance for the sale price to go up.

How Do I Prepare My Property for Auction Day?

The first step in preparing for an auction is to find out how much your property is worth and set a reserve price, which is the minimum bid you’ll accept. You will also want to make sure the property looks it’s best to appeal to more buyers and that it’s open for showings and an inspection before auction day. In addition, you must hire a solicitor to get all the legal paperwork together.

How Are Properties Marketed for Auction?

Auction companies use proven techniques for marketing properties. Custom advertising campaigns will be designed for your property using multiple platforms. Since there are only a few weeks to grab the attention of potential buyers before the auction date, marketing tends to be more aggressive than it is for traditional sales.

What Factors Contribute to the Success of an Auction Sale?

Many factors will determine just how successful an auction is. This will include how desirable the property is according to its location and condition, how realistic the expectations of the seller are, how effective the marketing tactics turn out to be, and how professionally the auction company handles the process.

For those living in Covington, VA, the best place to get accurate information regarding real estate auctions is from the experts at Greenways Real Estate & Auction. With over 60 years of experience, these professional auctioneers have what it takes to sell your home quickly, efficiently, and for the best price possible. Contact them at (540) 962-1155, or visit them online for additional information on buying and selling auction real estate.