The Realestate Auction Network

So, you want to bid BUT you don’t understand the Auction Process. Thus, uncertainty and lack of information “stand in the way” of your successful participation in the Auction Event. There’s nothing scary about becoming an active Bidder at a Real Estate Auction. Plus, it doesn’t cost you anything to bid. Let’s look at some simple steps to observe during each state of the Real Estate Auction Process.

PRE-AUCTION

The Bidder’s Kit: Upon request, the NETWORK™ Auction Firm will provide you a FREE Bidder’s Kit with detailed information about the property being auctioned. The detailed and thorough informational content will provide you with comfortable knowledge about the property. Call the Auction Firm and get the package!! Or, better yet, some Auction Firms have the Bidder’s Package posted for downloading from their website. Either way, get the Kit……….it’s Free!
Tour of the Property: Visit the property during one of the scheduled Consumer Open Houses. The Auctioneer (or qualified representative) is available during the Open House to answer any and all questions you may have about the Bidder’s Kit, the property and/or the NETWORK™ Auction Process. Take your Bidder’s Kit to the Open House and take the opportunity to further explore property details.
Call the Auction Firm or Auctioneer: The Auction Firm and Auctioneer are always available to answer questions to assist you better understand the Auction Process and the Bidding Process.
Follow the Advertisements: As the Auction Event draws closer, you’ll see more ads promoting the Auction.
Contact the Lender: NETWORK™ Auctions have a Mortgage Lender who provides a Loan Approval for interested Bidders. Contact the NETWORK™ Lender and get approved for a Loan PRIOR to attending the Auction Event. The Auction Event Lender will also have a Bidder’s Kit and will help you understand the financial details of the Auction process.
Pre-Register for the Auction: Contact the Auction Firm or pre-register at an Open House. If you missed pre-registration, Don’t Worry!! You can also register at the NETWORK™ Auction Event. At Event Registration each Bidder signs in and places a deposit check with the registration clerk. The deposit check is returned at the end of the Auction Sales Event or applied towards the earnest money deposit on the Auction Sales Contract.
Need More Information About Auctions? Search the web. There’s “tons of resources” available that will help you better understand this popular Real Estate Marketing method.

THE DAY OF AUCTION EVENT

Arrive Early: Arrive early to the Real Estate Auction Event. It’s your day to enjoy the experience of seeing the Real Estate Market In ACTION!
Register: If you didn’t pre-register, do it now. Being registered doesn’t require you to bid. Many times folks who register don’t bid…..and, that’s OK!
It’s Your First Auction Experience! Hey, that’s OK! We all have to start somewhere, Right? You don’t have to “jump right in and get your feet wet”. There’s nothing wrong attending an Auction and going “thru the motions” just to get comfortable with the Auction Process. Folks do it all the time. It’s like riding a bicycle…..once you “get the hang of it”, you’ll find it fun, easy to understand and a comfortable way of doing business. And remember, it’s FREE!
You’re the Winning Bidder! Congratulations! Moving forward is very easy. You already understand the Terms and Conditions (from the Bidder’s Kit, right?) and your loan is approved. The Auctioneer brings you and the Sellers together and you all sign the Real Estate Auction Sales Agreement (it was in the Bidder’s Kit, remember?). That’s IT! You walk away with a smile on your face as the soon-to-be-new-owner of the real estate.

POST AUCTION

When do you take Ownership? Normally within 30 days of the NETWORK™ Auction Event.
What do you do in the Meantime? Work with the Auction Mortgage Lender to finalize all the necessary work to insure a smooth, successful settlement.
Settlement: You and the Sellers sign the settlement paperwork. Title is conveyed to you, the new owner. Oh, don’t forget to get the keys from the former owners!
What Now? If it’s a home……Move in and unpack. Enjoy your new property! If it’s a piece of land, a farm, commercial building or whatever……Well, you’ll know what to do!!

THE NUMBER ONE RULE TO REMEMBER ABOUT THE NETWORK™ AUCTION PROCESS:
Don’t let the lack of information keep you from enjoying the NETWORK™ Auction Process and, possibly, being a successful participating Bidder!