If you've ever been to an auction of any type – fund-raising, art or cattle, for example – you've likely experienced the excitement and anticipation of hearing the auctioneer cry "SOLD!". With Discover Realty & Auction your property will be the center of attention and the desire of the day's bidders.
The first thing you need to know is, auctions go fast and bidders are legally bound to the terms and conditions of the sale, which can vary by property.
"Live on Location" auctions allow bidders to arrive at the sale site, with valid identification and method of payment, to compete with other buyers for the highest bid on your property. Earnest money is generally either 5% or 10% of their bid (subject to a minimum). Earnest money is usually paid on site using cash or a personal or certified check.
Most of our auctions are sold subject to the seller's approval of the high bid, also known as "Reserve Auctions."
If you are the high bidder, you will hear from a Discover Realty & Auction representative who will outline the next steps in the purchase process. At any time during the process, a representative can answer any questions you may have and will keep you apprised of the status of your purchase. Once you've closed, you will receive keys to your new property!