For more information about the author, click to view their website: Jude Creamer /HomeSmart
Buying a home at a home auction is not a new process, but it’s one that’s unfamiliar to most. There are lots of myths surrounding home auctions, and plenty of people who think of a home auction as a last resort, rather than a first choice.
RealtyHive is here to clear the air. Knowing about home auctions could make your next home purchase easier—and could even save you money.
If you think a home auction only happens in the event of a foreclosure, you’re not alone. However, there are actually multiple types of real estate auctions:
Foreclosures are time-consuming and expensive. When a homeowner owes more on their mortgage than what the house is worth, they might have the choice to put their home up for a short sale auction and avoid foreclosure.
From a buyer’s perspective, this type of real estate auction has its pros and cons. Home inspections are a toss-up—you might be able to get one, or you might not. Oftentimes, these sales are cash only, which works great for some, but isn’t ideal for home buyers needing to finance the purchase. Short sale auctions are also difficult to find for regular home buyers.
The name changes depending on location, but this is a foreclosure auction. The bank wants to get the money or the property. If you’re able to purchase, you’ll need to have the funds right away and there are typically no inspections. More often than not, you’ll buy without even getting to see the site first.
Regular real estate auctions happen at the seller’s choice—they’re not foreclosing or at risk for it. Interestingly enough, this type of home sale happens a lot in Europe and Australia. Home auctions are just beginning to pick up speed in the US.
Auctions can have high fees—15% at the highest. Whether they’re paid for by the seller or the buyer depends, so as a buyer, your expenses could dramatically increase. These fees do not include working with a real estate agent—an additional 6% commission on average.
That being said, luxury properties often sell faster at an auction than if going the traditional route. If you’re looking to buy an average/regular home and are in the US, it will be harder to find one through real estate auctions.
This is an exclusive home auction, available through RealtyHive. Here are some of the draws:
Benefits of Time-Limited Events for Home Buying
The market helps find the right price.
Buyers (and their potential investment) are still protected.
Unlike other auctions, buyers can still apply for loans to finance their home purchase.
Buyers are waived from having to pay expensive fees.
Time-limited events work for all types of properties, including vacant land and commercial properties.
At RealtyHive, we truly think we offer the best home auction option on the market. The countless sellers and buyers who have worked with us would agree.
But don’t feel as though you have to take our word for it—this blog is for information purposes, not a sales pitch. No matter the buying route you go, it’s good to know how home auctions work.
Listing your home in the late summer might sound daunting. But selling a home in August can be a good strategy, as the market is typically active with buyers motivated to move for the new school year or to settle in before the holidays. Make your property stand out with these easy-to-implement strategies.Leverage the Longer Summer DaysLonger days mean you have more daylight hours to show your home. Daytime showings allow sunlight to flood your rooms to better highlight architectural details, finishes and flooring. In general, natural light makes spaces appear larger, warmer and more inviting.Keep Up the Curb AppealFirst impressions are crucial. Youll need to be at the top of your outdoor maintenance game. That means grass is always cut, weeds are pulled and shrubs are trimmed. Other essential tasks include power washing the exterior, cleaning windows and touching up paint where needed. Work with your real estate agent to understand the best way to bump up your curb appeal within your budget.Show Off Your Outdoor SpacesMaybe you have a spacious deck or a thriving garden. Its worth spending a little time staging these areas to highlight them as extensions of your living space. Be sure these spaces are clean, inviting and free of weeds or debris. Consider adding some outdoor lighting to create ambiance and emphasize features like walkways, trees or sitting areas.Add Seasonal TouchesTurn up the summertime charm with a few easy touches both outdoors and indoors. Add late-summer blooming plants like asters and mums near your front door. Place fresh, seasonal flowers around your home to add color and fragrance. Incorporate pillows and throws in late summer colors like deep yellows and oranges. Another appreciated touch: Add a tray of lemonade and glasses to your counter or island for open houses or showings. Lastly, August can get hot and muggy! Keep your air conditioning running at a comfortable temperature so your guests have a distraction-free touring experience.With a few extra steps, you can capture the magic of summer season and help potential buyers picture themselves relaxing on your deck with a cool drink. Remember these buyers are highly motivated, so make your property the one that shines!
Sellers, take note and embrace the holiday joy! If youre planning to list your home this season, early fall is the perfect time to prepare your home for the market. Youll face less competition and buyers will be highly motivated to settle into new digs in time to ring in the new year.1. Less CompetitionDuring spring and summer, there are historically more homes on the market. During the holidays, there are typically fewer listings, making it easier for your home to really stand out and shine to potential buyers.2. More Serious BuyersAmid the hubbub, people are extra busy gift shopping and attending celebrations. Consequently, youre not likely to get many just-looking buyers. Anyone home shopping during the holidays will be more focused and more likely to make a strong initial offer.3. End-of-Year Financial AdvantagesFinalizing a home sale before the end of the year can provide potential financial benefits, such as deductions on property taxes, mortgage interest and other home-related costs. 4. Job Relocation SeasonSince January is a common window for job relocations, buyers may need to settle into a city and home by the end of the holiday season. Your home may be the answer to their relocation prayers!5. Faster ClosingsSince everyone is busy decking the halls, buyers and sellers will both be interested in moving things along expeditiously. And because all the professionals involved for a sale will have fewer closings on their plate, your transaction will get even more attention.6. Cozy VibesWhile winter weather can be daunting, nothing beats coming in from the cold to a warm, cozy home adorned for the season. Just turn up the heat, have a yummy treat in the oven and be sure to keep your sidewalks clear of snow and ice. Along with your festive outdoor lights, youll appeal to buyers sentimentality with all the decorative touches.Listing your home during the most festive time of the year can lead to more serious and qualified buyers and a fresh start for the new year. Contact your local Coldwell Banker agent to get a jump start on listing your home in time for the holidays.
Going green is easier than you think! Small changes around your home can make a big impact on the environment, your health and your bank account. Try implementing these affordable ways to improve the overall quality of your home life.Insulate and Seal DraftsAdding insulation to your attic or walls can reduce energy loss and also keep your home warmer in the winter and cooler in the summer. Sealing gaps around windows and doors prevents drafts and saves energy.Install a Programmable ThermostatConsider installing an upgraded thermostat, which automatically adjusts the temperature based on your schedule. The result is that you conserve energy when youre not home and optimize comfort when you are.Unplug Electronic DevicesWhile youre sleeping, did you know your devices might be driving up your electricity bill? Even when powered down, plugged-in items like computers, countertop appliances, video game consoles and other electronic gadgets could be gobbling up energy.Consider Energy-Efficient AppliancesIf your budget permits, consider upgrading your dishwasher, refrigerator, washing machine or other appliances to more energy-efficient models. While theres an up-front cost, you can save money over the long term. According to the U.S. Environmental Protection Agencys Energy Star program, household appliances account for nearly 11% of energy use in an average house.Switch to LED LightingReplacing incandescent bulbs with LED lights will reduce energy consumption and lower your electricity bill. Savings are significant. For example, Energy Star-certified LED lighting uses 90% less energy than incandescent lighting and lasts 35 to 50 times longer.Close Curtains and BlindsHeres a simple tip that wont cost you a dime! On hot, sunny days, keep your blinds or curtains closed to keep the heat out and reduce AC use. In colder weather, close window coverings to minimize heat loss.Establish Eco-Friendly Cleaning RoutinesChoosing biodegradable or non-toxic cleaning products will reduce the number of harmful chemicals in your home. You can even make your own cleaners using pantry staples like baking soda, lemon juice and vinegar. Establish other good habits, like only running the dishwasher or washing machine when its a full load to cut down on energy use.Green living is achievable with some simple steps. Not only will you reduce your environmental footprint, but your home will be more comfortable and youll reap tangible cost savings over time.
Empathetic Support for Out-of-State FamiliesNavigating the complexities of transitioning a loved one to assisted or independent living from afar can be daunting. As someone who has faced similar challenges firsthand, I understand the emotional and logistical hurdles, particularly when it comes to managing the sale of your parents' home. Your Trusted Local Ally: Providing Care and GuidanceI'm Jude Creamer, and I offer a holistic solution tailored to ease the burden of handling real estate transactions from a distance. Based locally in Bradenton and Sarasota, I provide the compassionate support and professional expertise needed to ensure a seamless transition for you and your family. With my personal insight and a dedicated team, we'll prepare the property for sale and oversee the entire process with meticulous attention to detail. Peace of Mind, Even from AfarRecognizing the challenges of managing estate affairs remotely, I offer a comprehensive service that relieves the stress of long-distance property management. You can trust that I'll manage every aspect of the sale process diligently, allowing you to focus on other priorities while knowing your loved one's home is in capable hands. Support Every Step of the WayFrom arranging necessary repairs to staging the property for maximum appeal, my team and I handle every aspect of the sale with professionalism and care. Understanding that distance can pose limitations, I strive to provide personalized support that aligns with your family's needs and preferences. Methodical and Effective ExecutionNavigating estate transactions requires a systematic approach, and I'm equipped with the resources and expertise to ensure a smooth and efficient process. With a deep understanding of the local market and industry dynamics, I work tirelessly to achieve the best possible outcome for you and your family. Schedule a Consultation TodayWhen you're ready to entrust the sale of your parent's home to a compassionate and dedicated professional, don't hesitate to reach out. Let's collaborate to make this transition as seamless as possible, allowing you to focus on ensuring your loved one's new living situation is optimal for their next chapter.
Empathetic Support for Out-of-State FamiliesNavigating the complexities of transitioning a loved one to assisted or independent living from afar can be daunting. As someone who has faced similar challenges firsthand, I understand the emotional and logistical hurdles, particularly when it comes to managing the sale of your parents' home. Your Trusted Local Ally: Providing Care and GuidanceI'm Jude Creamer, and I offer a holistic solution tailored to ease the burden of handling real estate transactions from a distance. Based locally in Bradenton and Sarasota, I provide the compassionate support and professional expertise needed to ensure a seamless transition for you and your family. With my personal insight and a dedicated team, we'll prepare the property for sale and oversee the entire process with meticulous attention to detail. Peace of Mind, Even from AfarRecognizing the challenges of managing estate affairs remotely, I offer a comprehensive service that relieves the stress of long-distance property management. You can trust that I'll manage every aspect of the sale process diligently, allowing you to focus on other priorities while knowing your loved one's home is in capable hands. Support Every Step of the WayFrom arranging necessary repairs to staging the property for maximum appeal, my team and I handle every aspect of the sale with professionalism and care. Understanding that distance can pose limitations, I strive to provide personalized support that aligns with your family's needs and preferences. Methodical and Effective ExecutionNavigating estate transactions requires a systematic approach, and I'm equipped with the resources and expertise to ensure a smooth and efficient process. With a deep understanding of the local market and industry dynamics, I work tirelessly to achieve the best possible outcome for you and your family. Schedule a Consultation TodayWhen you're ready to entrust the sale of your parent's home to a compassionate and dedicated professional, don't hesitate to reach out. Let's collaborate to make this transition as seamless as possible, allowing you to focus on ensuring your loved one's new living situation is optimal for their next chapter.
Empathetic Support for Out-of-State FamiliesNavigating the complexities of transitioning a loved one to assisted or independent living from afar can be daunting. As someone who has faced similar challenges firsthand, I understand the emotional and logistical hurdles, particularly when it comes to managing the sale of your parents' home. Your Trusted Local Ally: Providing Care and GuidanceI'm Jude Creamer, and I offer a holistic solution tailored to ease the burden of handling real estate transactions from a distance. Based locally in Bradenton and Sarasota, I provide the compassionate support and professional expertise needed to ensure a seamless transition for you and your family. With my personal insight and a dedicated team, we'll prepare the property for sale and oversee the entire process with meticulous attention to detail. Peace of Mind, Even from AfarRecognizing the challenges of managing estate affairs remotely, I offer a comprehensive service that relieves the stress of long-distance property management. You can trust that I'll manage every aspect of the sale process diligently, allowing you to focus on other priorities while knowing your loved one's home is in capable hands. Support Every Step of the WayFrom arranging necessary repairs to staging the property for maximum appeal, my team and I handle every aspect of the sale with professionalism and care. Understanding that distance can pose limitations, I strive to provide personalized support that aligns with your family's needs and preferences. Methodical and Effective ExecutionNavigating estate transactions requires a systematic approach, and I'm equipped with the resources and expertise to ensure a smooth and efficient process. With a deep understanding of the local market and industry dynamics, I work tirelessly to achieve the best possible outcome for you and your family. Schedule a Consultation TodayWhen you're ready to entrust the sale of your parent's home to a compassionate and dedicated professional, don't hesitate to reach out. Let's collaborate to make this transition as seamless as possible, allowing you to focus on ensuring your loved one's new living situation is optimal for their next chapter.