How do real estate auctions work, and are they a good way to buy property?
How do real estate auctions work, and are they a good way to buy property?
Real estate auctions allow buyers to bid on properties, often foreclosures or distressed homes. They can offer opportunities to purchase below market value, but the process requires preparation. Properties are sold “as-is,” often without thorough inspections. Research the property, set a budget, and be prepared to act quickly if you win. While auctions can yield great deals, they’re best suited for experienced buyers who understand the risks.