Selling Edmonton real estate property at auction – Essential steps to follow

Dec 11
06:44

2012

Samarita

Samarita

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Thus, by following the above steps you will be able to sell Edmonton real estate property at auction.

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The real estate auctions in Edmonton provide the sellers with a quick option to sell their home rather than wait for offers. The potential buyers assemble at one place to bid on the real estate property during an auction. The public sales are helpful if you have an exclusive feature of your home such as its interior or location. Most sellers who take participation in the auctions are motivated to sell the house and move on.

 

4 Steps to follow while selling Edmonton real estate property at auction

 

Read on to know about the 4 steps that you should follow while selling Edmonton real estate property at auction.

    Search for a good agent – While thinking to sell Edmonton real estate at auction,Selling Edmonton real estate property at auction – Essential steps to follow Articles you should make it a point to search for a good agent with whom you are comfortable enough to deal with your property. You will have to pay certain amount of commission to the auction firm that organizes the auction. You will also have to pay the marketing fees which are about 2.1 percent of the sales price.

    Make your home ready for auction – A real estate auction agent will suggest you what you should do to make your home ready for auction. This may consist of staging the home to impress the potential bidders who look at the home from before hand. Staging is when you paint, decorate and rearrange the furniture in order to make your home look more attractive to the probable buyers. The agent will also consider the comparable sales price in the area to help you find out what you should ask as a minimum bid. You can also opt for a complete sale where you will have to accept the highest bid no matter whatever the amount may be.

 

    Sale your property on the auction day – You do not need to attend the auction but you will require sending a representative who will act on your behalf. If the highest bidder has met the minimum asking price, he/she will have to sign a purchase deed and thus, prepare to close on the property. However, if the minimum bid wasn't reached, the highest bidder will get a chance to buy the property at your minimum asking price.
    Sign the purchase deed to confirm the sale of the home – You will have to sign the purchase deed in order to confirm the sale of the home. The buyer's deposit will