Holmen, Wisconsin

What to Know About Sealed Bids Before an Upcoming Auction October 11, 2017

Holmen, La Crosse County
What to Know About Sealed Bids Before an Upcoming Auction, Holmen, Wisconsin

In the world of real estate, auctions have emerged as an enticing alternative to the conventional buyer and seller transaction. Whereas selling a property can often prove a long and tedious process, the sealed bid auction method serves to expedite sales. Before venturing to an upcoming auction, it’s important that you understand what this approach entails for you. 

Going to an Upcoming Auction? Familiarize Yourself With Sealed Bids 

upcoming auctionsThe sealed bid auction method begins with two open inspection periods. During this, potential buyers are afforded the opportunity to view and learn about a property. Buyers may choose to submit a sealed bid or wait until formal bidding has opened, typically one week later.

How Are Bids Dealt With? 

Of the offers tendered, the top three will compete at auction. Once the seller has reviewed each of the finalists, they can move forward or entertain other routes. They are not required to go with the highest bid. In fact, they may reject all of the figures presented. They can also opt to accept, counter, or alter an existing offer. Assuming the seller and buyer agree to set terms, the latter will present a written offer and non-refundable earnest payment, which will be applied to the total purchase amount. If the property sale is not finalized for any reason, no fees will be paid to the real estate broker.


For more information about upcoming auctions in Holmen, WI, contact the professionals at Rainbow Auction & Realty. Backed by over 40 years of experience, realtor Jon Schuster has the solutions and services you need to drive demand and land the best possible price for your property. Learn more about his auctions online or call (608) 783-7653 to speak with a licensed realtor. You can also like them on Facebook for updates. 

Other Announcements, Events and Deals from Rainbow Auction & Realty Co
The Dynamic History of Auctions, Holmen, Wisconsin
Auctions have been conducted for thousands of years and are still a huge part of modern society. In the past and present, bidding on larger ticket items such as real estate...read more
 4 Steps to Take Before Attending a Real Estate Auction , Holmen, Wisconsin
Real estate auctions are a viable way to sell and purchase a property. The process is an accelerated form of moving homes to the public and involves competitive bidders as participan...read more
3 Steps to Take Before Listing Your Land for Sale, Holmen, Wisconsin
Selling land can be drastically different than selling a home, and whether you’re going to the market privately or taking part in property auctions, there are several crucial steps t...read more
What to Know Before Buying at Property Auctions, Holmen, Wisconsin
Property auctions are a fantastic way to get a good deal on a piece of real estate as long as you know how to navigate the process. Your first auction can be nerve-wracking, so know ...read more
4 FAQs About Home & Property Auctions Answered, Holmen, Wisconsin
When it’s time to sell your home or property, there are a few options for going about doing so. To shorten the length of the process and enjoy immediate returns, consider workin...read more