How would you normally buy real estate? You would see ads in the newspapers, or search online listing sites, for properties on sale, in and around your area. This is the customary and somewhat preferred choice of people looking to buy commercial or residential property; however, this isn’t the only way. Many people are discovering the benefits of buying real estate in California, through an online auction.
You may be familiar with traditional live auctions or may have participated in a few, but online auctions provide many advantages. In addition to the technology involved, these auctions offer more time to bid and the convenience of bidding from anywhere versus having to be at a certain place at a specified time. This provides a fair chance to all parties participating in an auction to benefit. Whether you are participating in residential or commercial online auctions, there are opportunities for both buyers and sellers.
Let us mention some benefits for buyers participating in auctions. We will deal with benefits to sellers in one of our future posts.
– Bid the price you wish to pay
– Smart investment opportunity
– Buyer benefits from seller’s commitment to sell
– Properties can be bought at fair market value
– Terms of the sale are known in advance – no backroom deals
– Closing and purchase dates are known
– Comprehensive information about a property is available to buyers
