Online Real Estate Auctions

Linda Mardi Services for Real Estate Pros Austin, TX (512) 255-9502 Contact Profile

eBay brought consumer acceptance to the concept of auctions. However, what about for real estate? Much of the real estate on eBay are advertisements. However you ll also find actual auctions for the entire property, as well as auctions for the down payment on a home. I ve advertised my own real estate auctions on eBay but have yet to put an auction online.

Some live/onsite auction firms are holding simulcast internet bidding (i.e Proxibid, NAA Live, and Live Auctioneer).

I ve also recently met more and more investors who tell me that they ve bought real property sight unseen from the internet, including internet auctions.

Most professional real estate auction firms provide property information packages that contain the sellers disclosure, preliminary title report, survey, floor plans and other pertinent information. Some even provide inspection reports. All are on disclaimer that buyer must do their own due diligence as the purchase contract contains no contingencies except for seller to provide clear title.

I am a believer that consumers in the future will more readily embrace buying real estate from an online source, whether it be by auction or otherwise. I also think that the marketplace will adapt and that service organizations and new industries will sprout up in order to meet consumers needs for online purchases. Can you imagine personal home shoppers?

Here are some sights that are online real estate auction companies:

By Linda Mardi Services for Real Estate Pros with AuctionFirst

Posted on August 21, 2006 09:42 PM