Do you want to auction a Houston home? I’ve noticed so many sellers in Houston are opting for this method of selling today unlike the past. The other day I talked to one prospective buyer and he told me sellers are tired of selling the conventional way. And to an extent I agree. You don’t have to traditionally list your Houston home if you wish to successfully sell in Texas. if I sell my Houston home in Texas I’d would opt to sell to a cash investor or house buying company like We Buy Fast Houston Houses because I believe they have my best interest at heart and more importantly, they’ll give me a fair all-cash offer.
The idea to auction a Houston home is not a bad one. For one, you get to sell fast, at a profit, and eliminate the middleman’s services which might cost you approximately six percent of the final sale price. That’s a lot of money even to someone who’s financially liberated!
Unfortunately, like many other processes, auctioning has its own downside.
Let’s look at the Do’s and Don’ts when you auction a Houston home, shall we?
- To actually go through with the auction you have to find a professional who’s good at it. Of course, unless you’re an auctioneer yourself! Do it if you have to but if you can’t, go out there and find yourself a great auctioneering company to represent your Houston house. Don’t just settle for any company. Research before picking one. Start by going through the National Auctioneers Association website. Look for those located in Texas. If you’re still not sure who you should work with, ask for referrals from family and friends. You also need to familiarize yourself with the process. So attend a few auctions just to get the feel what goes on in such places.
- Learn about the different types of auctions and figure out which works best for you. For your information there are two types of auctions. We have the reserve auction and absolute. In case you choose the latter, you should know that it has no minimum limit. This means the Houston home can be sold at any amount. The bidders don’t have to reach a particular limit because there isn’t any. But if you choose the reserve auction, the bidders will have to reach the limit you set. If no one does, the house won’t sell. Most people usually run with the reserve option thinking it will serve them better only to realize after it’s too late that they should have worked with an absolute option. You see if you choose the reserve auction there a possibility you won’t sell. Therefore, the house will go stale on the market and you won’t be able to do anything about it. Unless you are willing to sell it at a loss.
- Don’t forget to list down all the property flaws. Don’t expose yourself to law suits after selling. By law the buyer can still come after you if they realize they were duped into buying something flawed.
- Don’t go into it with unrealistic expectations. If you’re thinking this is the place to earn enormous profit you’re wrong. Go in with a realistic ask and expect things to not go your way. Emotions should not be involved in business.
But if auctioning doesn’t work for you, you can still sell to us. call us today!