Buying a home for the first time is a huge life step. For newer generations buying homes for the first time, traditional real estate can be a difficult process. From shooting in the dark for offer prices to a rapidly changing pace of available homes, there are a number of reasons a first-time buyer might look into auction as an alternative.
Below our real estate experts at RE/MAX Auction House explain the top benefits of buying a house at auction as a first-time buyer.
With traditional real estate, it’s hard to know how fast the availability of a listing will change. This is not the case for online real estate auctions thanks to our fixed timelines. The listing goes up with the fixed timeline displayed, and the auction will close on an established day.
As a buyer, this gives you clear information on when everything will take place. For many people, this significantly reduces the stress of buying a home for the first time.
One of the most difficult things as a first-time buyer is not knowing if your offer will be accepted. Often you don’t know the number of other interested parties and what they’re offering, so you can overestimate or underestimate your offer.
This makes buyers feel like they’re in the dark during the offer process. With auction, you know exactly how many other people are bidding PLUS their offers. This is a completely different type of process with ultimate transparency to guide your decision.
Related: Buying a House at Auction Tips
Speaking of decision making, many first-time buyers feel more confident and empowered when bidding through online auctions. They know the competition, the other bids, and exactly how much time they have to make their decision. This creates an empowered buyer who knows if their bid will win. This also helps buyers know when they can stop bidding and move on to finding a different property.
Contact our team at RE/MAX Auction House to learn more about buying a house at auction as a first-time buyer!
Our team of real estate professionals has over 50 years of combined experience. We do both traditional real estate listings and online auction listings, and we love providing our services for our buyers and sellers.
We’ve been proudly associated with RE/MAX for the last 37 years. RE/MAX Auction House is advancing the real estate industry through our online auction platform; we serve the greater Kansas City metropolitan area and surrounding regions.