If you want to sell a home, choosing the right method is very important. While many people take the traditional route of putting their properties on the market and waiting for buyers to notice the listings, our team at Greenway's Real Estate & Auction in Covington, VA, want you to know selling at an auction is a great method if you are running short on time. Below, we share a few reasons why this approach is so advantageous.

3 Reasons to Sell a Home at an Auction

1. Time

Whether you are moving across the country or are on a strict schedule, it is beneficial to sell a home at an auction if you need to make a quick deal due to time constraints. When selling your home using this method, there is a set amount of time bidders have to make an offer. Once you receive an offer, the buyer must pay 10% of the cost immediately and deposit the remaining amount into your account within the agreed amount of time.

2. Buyers

Placing your home for sale at an auction ultimately increases your pool of serious buyers. Not only do you get attention from regular house hunters, but you also gain attention from a pool of auction-goers who are ready to make a serious bid. This helps you to lock in a deal quicker.

3. Competition

If your home is popular amongst buyers, you can expect a bidding war, which will increase the sales price. Some buyers might even decide to make offers before the auction day if they think other bidders will jump at the chance to make a deal. Since a preauction offer is usually higher than any bid you would receive during the auction, it is often recommended you accept it. 

If you are looking to sell a home at a real estate auction in Virginia and West Virginia, our team at Greenway's Real Estate & Auction is eager to assist you. With over 60 years of experience, our family-operated business has an 88% success rate. For more information on our process, visit our website, or give us a call today at (540) 962-1155 to schedule an appointment.