Sell My House By Auction – Good or Bad Idea?

Posted on: September 9th, 2018 by , No Comments

Should I Sell My House By Auction?

If you are ready to sell your house then you have some questions that you need to ask yourself. Some of these are, Do I sell my house myself,  or do I sell through a realtor? Do I sell my house by auction or do I sell my house to cash buyers? These are the main options you have for house selling. Some are taking a look at the question do I sell my house by auction very seriously.

There are lots of reasons you might want to sell your house by auction. If you’re facing foreclosure, can’t afford your property anymore, or need to move quickly, auctioning your house might seem like a good idea. There are pros and cons to every house selling option. Let’s talk about the thought “Should I sell my house by auction”, and if it’s a good or bad idea.

The Pros To Selling Your House Through Auction

the pros to sell my house by auction

There are some benefits to selling your house this way. When you are looking for the answer to the question should I sell my house by auction,  think about it. You really need to determine if these benefits are applicable to you.

You Call the Shots

Houses that are sold through the auction process are done with a “as is” condition. What this means is there are no offers that can be placed on the purchase contingent on some condition. For example, the potential buyer cannot say he will buy the house at auction if his current house sells. Or, he will buy it if the owner will do certain repairs. The  buyer cannot say he will buy at the auction price only after it has gone through a house inspection. When asking should I sell my house by auction these  benefits may be  the most advantageous.

Hassle Free Benefits

If you have sold a house before then you are well aware of the hassles that can come with it. Whether you are trying to sell it yourself or using a realtor you  have some responsibilities. One of these will always be being available for when the realtor wants to show the house. Some people are comfortable with the realtor doing this on their own, while others are not. Either way it can be a big inconvenience. The same applies if you are selling yourself. You always have to be available when interested parties want to view the home.

Before each viewing you have the hassle of having to run around to make sure everything is in proper order. This can be a big inconvenience if you have a family.

Then on top of this there is getting the home ready for showings. This means you have to go through the big task of decluttering it and then staging it. This is all really time consuming. When you are seeking out the answers for should I sell my house by auction these are some factors to consider.

You Set The Price

I set the price when I sell my house by auction

There is another answer you are going to get for your query about should I sell my home by auction. This is that you are the one who decides on the reserve price.

This means you determine the lowest amount that you will accept for the home. There is no bickering back and forth about price. Like there would be with some of the other methods of selling your home.

You also retain your rights to refuse any of the offers that are placed on your home in the bidding process.

The Cost Factors

When you are getting the answers to the question should I sell my home by auction  there will be costs involved. This is not a free way of selling your home. You are aware that there are realtors fees when selling in that manner. There are also fees when it comes to selling your home through auction. There will be fees that will have to be paid to the auctioneer. Then on top of this you will most likely have to pay the advertising fees.

Speedy Sale

If when you are questioning yourself as to should I sell my home by auction determine if you want a quick sale. If so, then this may be one of the most important benefits that this type of home selling has to offer.

The Downside to Selling Your Home at Auction

downsides when I sell my house by auction

When asking should I sell my home by auction you will discover some negative factors. These may outweigh the beneficial ones.

It Can Be Stressful

If you don’t fully understand how the auction sales work this will be very stressful to you. You may feel like you don’t have control. There are several things that you need to know. This can be overwhelming.

The Extra Fees

You could end up paying more for the auctioneers fees. This is combined with the advertising fees. This may add up to more than what you would pay with some of the other methods used for selling your home.

The Pressure to Make a Decision

pressure faced when I sell my house by auction

You may have to make your decision quickly depending on the bids. You may want more time to decide on offers. You may not have this with an auction sale.

Disappointed with the Price

You probably have a set price in mind for the sale of your home. Selling at auction may not get you the price that you were really hoping for.

A Better Solution

When you are doing research for the answer to should I sell my home at auction you may come across a better solution. This would be selling your home to a cash buyer.

This home selling method has all the benefits of auction selling. It also has some additional ones.

You get to talk directly with the cash buyer and negotiate what you feel is a fair deal. You don’t have all the extra expenses like the advertising or the auctioneer’s fees. You are not going to be stressed out having to learn things about home selling. Your cash buyer will make the transaction a simple one to understand and to process. You won’t have all of the hassles that comes with auction selling, or with the other home selling methods.

Sell My House By Auction Help

we're here to help sell my house by auction

You won’t be stuck with the thought “I have no other option but to sell my house by auction.” We’re here to help. We understand how stressful selling a house is. We’ll make you a no obligations cash offer for your house in order to help you avoid feeling like you have to auction your house.

Have a question? Give us a call! We’re always ready to talk. No matter if you have questions about the house selling process, or want to get a quote for your house, we’re more than happy to help! Reach us at (319) 382-6398, or send us a message on our website!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

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