When it comes time to sell your property, you likely would prefer to stick with the process you know. The traditional market is a popular choice and something most sellers understand to some degree, but it’s not your only option. In fact, sometimes it’s not even the best option if you want to get a fair market price for what you’re selling.
Auctions are often a great alternative to selling on the traditional market. We know it might seem intimidating to choose a process you’re not familiar with, so we’ve created this blog to help you understand the main points of the auction market, such as how auctions work, how they’re different from traditional sales, and why you should work with a modern, full service auction company.
Most people know the basics of an auction: an item is up for sale, people place bids, and the highest bidder wins. But what few people realize is that there are lots of different ways to approach this process. Sellers can set reserve prices, set minimum opening bids, and even turn down the highest bid if they want. It all depends on what type of auction you use.
To help you understand all the options you have with auctions, we’ll discuss six different types of auction and who they’re typically best suited for.
When a loved one passes away, there’s a lot of details that need to be handled. Reading the will, settling accounts, and transferring ownership of assets often takes months to finish. But once it’s all said and done, you might end up owning a new piece of real estate. You could choose to live there or rent it out, or you could decide to sell it.
Selling inherited property is a little different from the traditional process of selling your house, namely because there are often other parties involved. If you’ve recently inherited estate property and would like to sell, there are a few steps you’ll have to take.