Why choose the auction for your property purchase?
Explore your future real estate investment on the Gable Auctions platform.
Acquiring real estate through auctions presents distinct benefits: competitive pricing, a clear and transparent bidding process, swift transactions, and the possibility of securing remarkable deals. Take advantage of this opportunity to efficiently and confidently secure your next property in a dynamic, open-market setting.
What To Know Before the Auction.
Success in our online-only auctions starts with thorough preparation. Making informed choices, adhering to your budget, and identifying the perfect property are essential steps. Equip yourself to bid confidently your research and planning are crucial.
Pre - Auction Checklist
Get ready for auction success! Research, secure pre-approval, inspect the property, seek legal advice, and consider a pre-auction offer.Â
Be prepared to make your best bid!
Do your research
What semiliar properties selling for? How much is land in that area worth?
Arrange a pre-approval
Do you know what a lender will allow you to borrow? Make sure know this BEFORE Auction Day
Inspect the property
By inspecting the home more than once, you may find features or samll details you didn’t notice the first time.
Seek legal advice
If you’re successful on Auction Day. you will pay the deposit at the same time you sign on the dotted line. Make sure you have your deposit ready
LETTER OF AUTHORITY
If you’re not confident to bid yourself, you can appoint someone to bid
on your behalf. Discuss this with the ral estate in the lead up to auction.
CONSIDER A PREAUCTION OFFER
whilst the vendot may not be accepting pre-auctions offers and it can “reveal your cards” before auction day, lots of properties are bought this way.
FAQs for buyers participating in an online real estate auction
To participate, you’ll need to create an account on our auction platform. Once registered, you’ll need to provide identification, verify your account, and agree to the terms and conditions. Some auctions may require a deposit to qualify as a bidder. For buyers with an Agent, an Agent Representation agreement is required
Yes, a refundable bidding deposit is required, which will be returned if you do not win the bid. Any applicable registration fees or deposits will be outlined in the auction details.
Yes, properties are often available for inspection before the auction. Open house dates and times, or private appointments, are typically listed on the property’s auction page.
The property will be sold free and clear of any liens and title issue upon the sale
The starting bid is the minimum amount at which the auction will begin. It does not represent the final purchase price and may increase as bidding progresses.
A reserve price is the minimum amount the seller is willing to accept for the property. If the bidding does not meet the reserve price, the property will not be sold.
Once registered and approved, you can place bids by clicking the “Bid Now” button on the auction page. You can place manual bids or set a maximum bid to allow the platform to automatically bid on your behalf up to that limit.
If you are the highest bidder, you will receive a confirmation email outlining the next steps. Typically, you will need to sign a purchase agreement and make an initial deposit or earnest money payment within a specified period.
No, all bids are legally binding. If you win the auction, you are required to complete the purchase. Failure to do so may result in the forfeiture of your deposit and potential legal action.
While some auctions are cash-only, others allow financing. However, it’s your responsibility to arrange financing prior to the auction. Pre-approval is often recommended.
Yes, additional fees such as a buyer’s premium (a percentage of the winning bid), closing costs, and taxes may apply. The auction details will list any applicable fees.
Closing timeframes can vary but typically range from 30 to 45 days. The specific time limit will be outlined in the auction terms and conditions.
If the reserve price is not met, the property may remain unsold. In some cases, the seller may negotiate with the highest bidder after the auction ends.
Yes, you can participate in multiple auctions simultaneously. However, ensure you have the financial capacity to follow through on any winning bids.
You can subscribe to auction alerts through our website to stay informed about upcoming events, new properties, and other auction opportunities.
Highlight Auctions
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
