{"id":1838,"date":"2022-09-08T00:00:00","date_gmt":"2022-09-08T04:00:00","guid":{"rendered":"https:\/\/chrisbuyshomesstlseller11.carrot.com\/?p=1838"},"modified":"2022-09-08T00:00:00","modified_gmt":"2022-09-08T04:00:00","slug":"is-auctioning-your-house-a-good-idea-in-detroit","status":"publish","type":"post","link":"https:\/\/www.chrisbuyshomesdetroit.com\/blog\/is-auctioning-your-house-a-good-idea-in-detroit\/","title":{"rendered":"Is Auctioning Your House A Good Idea in Detroit? &#8211; The Do&#8217;s and Don&#8217;ts&#8230;"},"content":{"rendered":"<p><div id=\"attachment_402\" style=\"width: 336px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-402\" class=\"wp-image-402\" src=\"https:\/\/cdn.carrot.com\/uploads\/sites\/1410\/2014\/08\/sell-my-house-fast-auction.jpg\" alt=\"Is Auctioning Your House A Good Idea in Detroit?\" width=\"326\" height=\"208\" \/><p id=\"caption-attachment-402\" class=\"wp-caption-text\"><strong>Selling your Detroit house by auction<\/strong> can be a good option if you follow the steps in this article below&#8230;<\/p><\/div>Selling your home at auction in Detroit is a growing practice throughout America, because it offers an opportunity to sell your house fast, without paying real estate agent fees, and often with a profit.<\/p>\n<p>However, as with all things, there can be downsides to auctioning your home rather than selling it through the traditional real estate sale process with an agent or to a real estate investment firm like Chris Buys Homes in Detroit.<\/p>\n<p>In this article I&#8217;ll dive into some of <strong><em>the do&#8217;s and dont&#8217;s of auctioning your house in Detroit<\/em><\/strong> and surrounding areas and discuss the question of &#8220;<em><strong>Is Auctioning Your House A Good Idea in Detroit [state<\/strong><\/em>]?&#8221;<\/p>\n<h2>Is Auctioning Your House A Good Idea in Detroit?<\/h2>\n<p>If you&#8217;re looking at auctioning off your Detroit house, keep in mind that there are several preparations that you must make before the actual auction starts.<\/p>\n<p><strong>The &#8220;Do&#8217;s&#8221;\u00a0<\/strong><\/p>\n<ul>\n<li>In order to actually get your house auctioned off, you must <strong><span style=\"text-decoration: underline\">first find an auctioneer<\/span> in Detroit<\/strong>.There are many auctioneering companies out there today, so do your research before picking one to represent your house. \u00a0One place you can start is your local phone book, a referral, or head over to the National Auctioneers Association website and <a href=\"http:\/\/www.auctioneers.org\/find-auctioneer\" target=\"_blank\" rel=\"noopener\">do a quick search for auctioneers here in our area of MI<\/a>.Look for those with plenty of experience, and even try attending an auction or two, just to get a feel for how they run things. Make sure to find out their\u00a0fees that they charge for their services, as they can sometimes run quite high. In some instances they may take up to ten percent of the houses cost, greatly reducing the amount of profit that you will receive&#8230; sometimes much lower.Or heck, <em><strong>if you don&#8217;t want to hire an auctioneer&#8230; you can do it yourself<\/strong><\/em>. A good auctioneer can really help drive the price of a house up with their skill&#8230; but you can run the auction yourself as long as you&#8217;re clear about the rules of the auction with bidders, the starting bid price, whether they have to have cash and a deposit at the auction, etc.<\/li>\n<li><strong>Decide which kind of auction you want to run &#8211; <span style=\"text-decoration: underline\">Absolute<\/span> or <span style=\"text-decoration: underline\">Reserve<\/span>?<\/strong>Once you feel that you\u2019ve selected the house auctioneering company in Detroit that\u2019s best for you, establish which kind of auction you want it to be, <span style=\"text-decoration: underline\">absolute<\/span> or <span style=\"text-decoration: underline\">reserve<\/span>.<em><span style=\"text-decoration: underline\">In absolute auctions<\/span><\/em> there is <span style=\"text-decoration: underline\"><strong>no minimum limit<\/strong><\/span> that your house must earn in order to be sold. This means that whatever the highest bid may be, is what you\u2019re going to get.<em><span style=\"text-decoration: underline\">Reserve auctions<\/span><\/em> are those that <strong><span style=\"text-decoration: underline\">have a minimum limit<\/span><\/strong>, and if it doesn\u2019t reach that limit, it doesn\u2019t get sold.\n<p>Although it seems like a clear choice between the two, don\u2019t assume that reserve auctions are necessarily better. Sometimes if bidders aren\u2019t willing to reach the limit, it will never be sold and you\u2019ll be sitting on a house that you don\u2019t want. \u00a0Also, auctions that are &#8220;no reserve&#8221; (or absolute) tend to attract more potential bidders to the auction looking for a great deal&#8230; and if one of them gets wrapped up in the bidding frenzie&#8230; that could mean the difference between selling the house that day and not selling it.<\/p>\n<p>Think carefully about making a decision, and try to decide what it is that you want more. If you want to <a href=\"\/\" target=\"_blank\" rel=\"noopener\">sell your house as quickly as possible in Detroit,<\/a> then doing an absolute auction is the quicker option. If not, then perhaps a reserve auction would be more in your goals.<\/li>\n<li><strong>Don&#8217;t leave out any faults about the house from your auction description<\/strong>A really important step in selling your house at auction here in Detroit is to list all the problems that your property has. Don\u2019t leave out any faults about your house, because if you do the buyers have a right to come after you for any flaws that you didn\u2019t list out before the auction.<\/li>\n<\/ul>\n<p>Last&#8230;<\/p>\n<ul>\n<li><strong>Don\u2019t go into an auction with fantasies of a bidding war erupting, leaving you with an enormous profit.<\/strong>Place a realistic price that you hope to earn, and don\u2019t be too disappointed if your house sells for less than you think it\u2019s worth. \u00a0You may have an emotional attachment to the house that the people bidding on the house don&#8217;t have.Auctioning your house in Detroit may bring in less money than a real estate sale, but it is relatively quick, and can spare you the heartache and stress of the more traditional approach.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Why Are You Thinking About Auctioning Your Detroit House Anyway?<\/h2>\n<p>You landed on this article for a reason&#8230; auctioning off your house has crossed your mind.<\/p>\n<p>It may help you sell your house more quickly&#8230; so why not give it a go right?<\/p>\n<p>Before you choose to auction off your local house&#8230; try another option first.<\/p>\n<p>Our company, Chris Buys Homes in Detroit, buys Detroit area houses. \u00a0We&#8217;re not looking to list your house&#8230; we&#8217;re looking to actually buy it.<\/p>\n<p><a href=\"\/\" target=\"_blank\" rel=\"noopener\">We buy Detroit houses<\/a>&#8230;<\/p>\n<ul>\n<li>In any condition<\/li>\n<li>Any part of town and even other parts of MI<\/li>\n<li>ugly houses, pretty houses, houses in great shape, houses that need lots of repairs<\/li>\n<li>houses with lots of equity and even houses with little or no equity<\/li>\n<\/ul>\n<p>We&#8217;ll pay a fair price, we can close fast (in as little as 7 days), and you won&#8217;t have to fix up the house at all.<\/p>\n<p>If you&#8217;d like to see what we can pay for your house BEFORE you decide to auction it off&#8230; reach out to us.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>You can call us anytime at (313) 217-9851<\/strong> <\/span>or just click the link below and fill out the form on the next page to start the process.<\/p>\n<p>So,\u00a0Is Auctioning Your House A Good Idea in Detroit?&#8230; \u00a0that&#8217;s up to you to decide. But if you want to see if working with us makes more sense first before you jump into the &#8220;auction&#8221; world&#8230; submit your info below to get started today!<\/p>\n<h3 style=\"text-align: center\"><span style=\"text-decoration: underline\"><a href=\"\/\" target=\"_blank\" rel=\"noopener\">Get A Cash Offer On Your Detroit Area House Here &gt;&gt;<\/a><\/span><\/h3>\n<p><a href=\"http:\/\/www.bankrate.com\/finance\/real-estate\/14-questions-to-ask-before-auctioning-home-1.aspx\" target=\"_blank\" rel=\"noopener\">Here&#8217;s another great read<\/a> that we found when writing this article on some more tips and questions you should ask yourself before you auction off your house.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Selling your home at auction in Detroit is a growing practice throughout America, because it offers an opportunity to sell your house fast, without paying real estate agent fees, and often with a profit. However, as with all things, there can be downsides to auctioning your home rather than selling it through the traditional real [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[44,68],"class_list":["post-1838","post","type-post","status-publish","format-standard","hentry","category-sellers","tag-house-auction","tag-sell-my-house-fast"],"_links":{"self":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/comments?post=1838"}],"version-history":[{"count":0,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1838\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/media?parent=1838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/categories?post=1838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/tags?post=1838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}