Frequently Asked Questions – Real Estate Auctions
Auction Details: Where and when is the auction taking place?
You can find the date, time, and location (sale address) for each auction on our website, indicated under the auction heading. For GPS guidance, please refer to the provided address.
Seller Information: Who is the seller and what is their reason for selling?
Properties are auctioned for various reasons, such as estate liquidation, homeowners looking for a quick sale, divorce settlements, business liquidations, downsizing, and more. The specific reason for each auction is detailed in the auction description on our website.
Property Surveys: Is there a plat of the property available?
We may provide property surveys or plats on our website under the “Documents” section for a particular auction, if available. Alternatively, you can access tax map outlines through the county or city’s online GIS system.
Zoning Information: Where can I find zoning regulations for the property?
Zoning details are typically accessible through county/city online GIS systems. For properties zoned other than “Residential,” we may upload local zoning code information, outlining rights and restrictions, under the auction’s “Documents” section.
Auction Registration: How and where do I register for the auction?
For “Live/On-site” auctions, in-person registration can be completed at the auction location at least 30 minutes before the auction begins. Bring a government-issued ID (Driver’s License or Military ID) with your current address. Online auctions allow registration by clicking on the “Register” button on the specific auction’s webpage.
Terms of Sale: What are the auction's "Terms of Sale"?
The “Terms of Sale” can vary between auctions. You can find specific terms and conditions for each auction on our website. They are prominently displayed.
Deposit Requirements: What deposit or down payment is necessary?
Down payments are due immediately after the auction and vary for each auction. Payment terms and methods can be found under the specific auction’s “Terms of Sale” on our website.
Registration Costs: Is there a fee for registration?
There is no registration fee. Simply bring your government-issued ID and an acceptable deposit method in case you become the successful bidder.
"Good Check" Definition: What does "Good Check" mean?
A “Good Check” is a check written from an account with sufficient funds to cover it.
Starting Bid: What is the starting or opening bid?
The starting bid, if present, is indicated in the auction listing and advertisements. Often, there is no predetermined starting bid.
Seller's Reserve Price: What is the Seller's reserve price?
The reserve price, the minimum price acceptable to the Seller, is confidential and not disclosed to bidders. As the auction firm, we ensure properties are marketable and Sellers’ expectations are reasonable.
Property Preview: Is there an open house preview?
Improved property auctions typically have 1 or 2 scheduled open house preview dates, as detailed in the auction description. Raw land can be inspected at your convenience.
Pre-Auction Offers: Can I make an offer before the auction?
Pre-auction offers are welcome. However, most Sellers prefer to determine true market value through the auction process. Ultimately, the decision to sell is with the owner.
Bidding Methods: Must I attend in person, or can I bid online?
The bidding method depends on each auction’s structure. Some are live, in-person only, others are online only, and some are simulcast auctions, offering both online and in-person bidding.
Auction Alerts: How can I receive Auction Alerts?
Sign up for our email list on our home page.
Mortgages and Liens: What happens to mortgages and liens on the property?
While properties are sold “As-Is,” the Seller is obligated to provide the Buyer with “Clear, Marketable Title, Free from Liens or Encumbrances.” Existing mortgages/trusts on the property are paid off at final closing, along with any outstanding fees or delinquencies.