The world of real estate auctions
We address the most common doubts and fears
Real estate auctions, if handled properly, can be a tremendous opportunity for anyone who is looking for a home or interested in investing in real estate. However, it is common for many people to be discouraged by doubts and fears, even legitimate ones, circulating around this world. In this article, we will explore three of the most common concerns: the complexity of the process, the fear of losing the bond, and the possibility of applying for a mortgage on a property at auction. We will dismantle these fears one by one, demonstrating that by using an expert the benefits far outweigh the risks and that the whole operation can be done easily.
"The process is too complex!"
Many people give up on the idea of attending a real estate auction because of the perception that the process is too complicated and daunting. However, nothing could be further from reality. Real estate auctions have been simplified over the years, and with the right guidance, they can become an effective way to buy property at attractive prices.
"I'm afraid of losing my bail."
One of the most common fears associated with real estate auctions is the possibility of losing the deposit paid at the time of bidding. It is important to understand that this risk is actually unrealistic, as the 10% deposit is returned in full if you do not win the property.
"Can I apply for a mortgage on a property at auction?"
Many people wonder whether it is possible to obtain a mortgage to purchase property at auction. The answer is yes, it is possible, with careful planning and good knowledge of procedures. Turning to an experienced credit counselor canbe the key to getting all the information you need and moving smoothly through the mortgage and financing field.
The Importance of Consulting an Expert
The crucial part of approaching a real estate auction with confidence is to avail yourself of an expert in the field. A well-structured real estate agency in which specialized consultants work can make all the difference and ensure that your business is transparent and with minimized risks.
What can Tuscania do for you?
At Tuscania Real Estate, we support you in terms of advice and assistance. Let’s look together at what we call “Phase 1.”
We initially provide counseling by scheduling an appointment with the janitor, and accompanying you on the inspection we will provide three types of assessments:
- Average market value (OMV)
- Immediate realizable value (Quick Value)
- Value of the auction award, if any (JMV)
All three are essential to enable you to get a comprehensive appraisal view of the property.
If your interest emerges from this, we will continue to follow you all the way through the next steps, all at extremely competitive prices.
Therefore, if you are considering attending a real estate auction, don’t hesitate to consult us-your next great real estate opportunity may be just around the corner.
