Need to get rid of a property in a hurry? The goal of an auction is to sell for a price you want on the day of your choice. In other words, get the house sold at a good price quickly! You can, of course, use an auctioneer or follow these guidelines to do it yourself.
First and foremost in getting any property sold anywhere in any condition is marketing. If buyers don’t know what you have, where it is, how much it costs, or even that it’s for sale, what are your odds of selling it? Market, market, market. Marketing is a topic for another post.
Whenever you sell a property at auction, you’ll want to “sell with reserve”. This simply means that you have a minimum price for the property and it has to be met before you will approve the sale. An “absolute auction” is one where the property is sold to the highest bidder no matter what the price. If only one bidder shows up and they bid $25 at an absolute auction, that could be a problem!
