An online auction creates a competitive bidding environment, often resulting in a quicker sale and potentially a higher price. It provides a transparent process and a set auction date, giving you more control over the timing.

The process typically involves registering the property, setting a reserve price (if applicable), marketing the property, hosting the auction, and finalizing the sale. Sellers will receive bids during the auction, and the highest qualified bid will win, subject to meeting any reserve price.

Online auctions are ideal for a wide range of properties, including residential homes, multifamily units, commercial buildings, and distressed properties. It’s especially beneficial for properties that are unique, hard to price, or have high market demand.

A reserve price is the minimum amount you are willing to accept for your property. If bids do not meet or exceed this price, you are not obligated to sell. This protects you from selling below market value.

The timeframe can vary, but most online auctions take up to 90 days from listing to the conclusion of the sale. This includes time for marketing, open houses, and the auction itself.

Yes, preparing your property for an auction is similar to traditional sales. Ensure the property is in presentable condition, provide detailed information for potential buyers, and schedule one property tour or inspection before the bidding begins to give interested parties an opportunity to view it.

Your property will be promoted via online listings, social media, email campaigns, and industry contacts. Professional photography, virtual tours, and property details will help attract interested buyers.

Selling through online auction is 100% FREE.

You are not obligated to sell unless the final bid meets or exceeds your reserve price. However, withdrawing a property after it’s been listed may incur fees, depending on the auction terms.

If the reserve price is not met, you are not obligated to sell. You may choose to relist the property for another auction, negotiate with interested bidders, or explore other selling options.

Once the auction is completed and the sale is confirmed, the buyer typically places a deposit. After closing, the title is transferred to the buyer, and the title company is responsible for transferring the remaining balance.

Sellers typically need to provide the property deed, title report, disclosures, leases, etc. You may also need to work with an attorney to ensure everything is in order. Click here to see our Seller’s Checklist.

Gable auctions will present any pre-auction offers to the seller.

Buyers are typically required to place a non-refundable deposit, which ensures their commitment to the sale. Failure to close may result in the buyer forfeiting this deposit.