Buying at Auction
Negotiations. If you've been through the buying process, let's face it — it can be exhausting and stressful. It's one of many reasons buyers are turning to real estate auctions as a way to purchase property.
Auction creates a simple, fair and transparent process that offers you many benefits over the traditional method of buying real estate.
Inspections and Financing
Many potential buyers assume auction terms translate to forfeiting key steps of the traditional process, including inspections and financing. In reality, many of our buyers do perform inspections and obtain financing as part of their transaction.
Although McCurdy represents the seller, our team is dedicated to transparent real estate transactions and provides a variety of downloadable documents regarding each property. Property Information Packets as well as our Terms and Conditions can be found on every property listing page. We also have auction experts available to answer questions and host showings.
We understand purchasing real estate is a major transaction, and auction still allows for sellers to secure financing. However, financing contingencies are not provided in the contract, which means, as a buyer, you work through your financing prior to auction instead of after signing a contract like traditional real estate.
This type of auction is conducted at the property on a specified date and time. Properties are open one hour prior to the auction start as well as available showings leading up to the auction date.
Live with Online Bidding
These auctions include both in-person bidding at the auction location and online bidding through McCurdy's website. With the auctioneers' broadcasted via live stream, online bidders can participate in real time.
Live Stream Auction
This is an auction in which all the bidding is done online in real time though McCurdy's website while the auction is broadcast at the given time and date.
Online Only Auction
Online only auctions are timed events with open and close dates that typically span two to three weeks. All bidding occurs on our website over the course of the auction and culminates in the last minutes as final bids roll in.
Common Myths about Auction
Auction is becoming the most popular way to buy real estate. Some people are hesitant to try because of some common myths surrounding auction.
Watch the video to learn some of the common myths surrounding auction.
Step 1: Registration
In all auctions you will need to complete a form agreeing to the terms to receive a bidding number. You can register on our website or in person at the auction event. Ours staff are always ready to answer any questions you may have.
Once you are registered you are now able to participate and bid. If you register to bid online we require valid credit card to verify your identity.
Step 2: Bidding
Live auctions begin with our team giving an overview of the terms and conditions and property being offered. Then the bidding will open and you are able to participate by raising your hand. #LastHandWins
Online only auctions will have advertised beginning and ending times with a timed countdown. Often preview times are established and advertised, check the listing page for details.
At the conclusion of the auction bidding will automatically extend until 1min has passed without receiving any bids. Once the countdown for each property in the auction reaches 0 the auction will close and no more bids will be accepted.
Got the Winning Bid, Now What?
Over the years we have established an efficient, streamlined closing process that allows for you and the buyer to close in 30-45 days from the date of the auction—or sooner if you are both in agreement. Our closing department will be in contact with you to make sure everything is ready and in place for a successful closing day.
Have more questions? Contact us.
Every property is unique and McCurdy knows how to effectively structure your selling strategy to optimize results. We offer two main methods – absolute and reserve – to ensure you feel confident both leading up to and on the day of your auction. Contact us for more information or click below to learn more.
While most of the property we list is sold via auction, we are also qualified to assist you with your traditional real estate needs. All of our agents are licensed REALTORS and members of the South Central Kansas Multi-List Service (SCKMLS). We can assist you in ensuring your transaction is negotiated with you needs in mind.
Realtor® Co-Op Program
While most of the property we list is sold via auction, we are also qualified to assist you with your traditional real estate needs. All of our agents are licensed REALTORS® and members of the South Central Kansas Multi-List Service (SCKMLS). We can assist you in ensuring your transaction is negotiated with you needs in mind.
Talk to an agent about buying property at auction.