Assiter & Associates

The Advantages of Buying at Auction

  • You know the seller is committed to selling that day
  • You know that you'll be purchasing the property at market value and nothing more
  • You determine the purchase price, not the seller
  • Quick Closings
  • No long negotiation process
  • Make your best offer in open competition with other bidders

How Do I Buy at Auction?

STUDY
First you'll need to familiarize yourself with the profiles of the properties that are of interest to you. We urge you to review all documents in the Property Information Packet that is made available to you upon your request.
PREVIEW AND INSPECT
Set up a time with us to preview the property that you are interested in. Because all property is sold "as is, where is" you may wish to have a property inspector view the property with you.
ATTEND AN AUCTION
Attend and observe another Assiter & Associates auction if you're not familiar with auction procedures. The auction process happens quickly, so it would benefit you to know what to expect.
CONTACT YOUR LENDER
You may need to consult your lender. If you don't already have one and require financing, our friendly staff can refer you to a lender who is familiar with the property and our auction method. Remember, all bids must be made as a "no contingency" offer.
PREPARE
Make certain that you understand the terms and conditions thoroughly. High bidders shall execute a purchase agreement and deposit a pre-determined amount of earnest money on the day of the auction. The balance is due in certified funds at the closing. Closing is required within 30 days of the auction date. A Buyers Premium will be added to determine the final contract price. Also, make certain that you understand the type of auction that will take place on your desired property.
REGISTER
Generally, registration for the auction is scheduled to open two hours prior to auction time. You must be registered in order to bid on anything. Our staff will be helping you with this at the auction site prior to the auction. We encourage you to arrive a little early to give yourself time for any last minute questions about the property.
LISTEN
Listen very carefully to all announcements made prior to the live auction, as any announcements made by our Auctioneers take precedence over any written material. This is our way of updating any information about the property before you begin bidding.
A PRICE IN MIND
Pre-determine how much you are willing to pay for the property. Set a limit or a range on what you're willing to pay and then be prepared to bid up to that limit.
CONGRATULATIONS
If you are the winning bidder, well done! You'll meet with the seller and an Assiter & Associates representative immediately following the auction!
ASK US
We are here to help you in any way possible. Please let us know if you do not understand something. We'll also be available to help you in any way at the auction site.
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