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BUYING AT AUCTION | SELLING AT AUCTION | MULTI-SELLER AUCTIONS | GLOSSARY OF TERMS
Buying at Auction
As auctions are rapidly gaining in popularity, they are becoming a proven method to buy and sell real estate. Auctions can provide flexibility to accommodate individual needs. They generate excitement because of the time-limited aspect of the transactions. But the best part is, AUCTIONS WORK!
Virtually all classes of real estate are sold by Lyons Auction Group . We routinely offer properties from individuals, financial institutions, trustees, REITs, hedge funds, and major corporations.
We invite you to read more about us and the auction process ... and we hope to see you at an auction soon!
The Advantages of Buying at Auction
- You are in control of your purchase price
- Removes long negotiation periods
- Opportunity for a good value
- Transparent, simple transaction
- Guaranteed insurable title
- We are dedicated to making the process simple for you
Things To Know Before You Bid
- Auctions are open to the public
- Properties marked “Absolute” sell regardless of the price
- Online Bidding - Registration is open about 7 days prior to the event. Be sure to review the online bidding terms as well as the general terms and conditions for each property being auctioned
- Live Bidding – Registration is open one hour prior to the event. Be sure to review the terms and conditions for the auction. You will need to bring a drivers license or other photo ID for registration
- If you are bidding on behalf of someone else, make sure to bring a notarized power of attorney
- Earnest money deposits can be made in the form of wire transfers (required for online purchases), cash, certified checks, personal or business check. Types of payments may vary per auction. Please review the terms and conditions of each auction.
- You will need to provide a Partnership Agreement, Articles of Incorporation, trust documentation or other necessary proof of signing authority, if taking title in a partnership, corporation or trust.
- Make sure you have approval from your lender prior to bidding, if you will need financing. Properties are sold as-is and without a financing contingency.
Have Questions?
Our goal is to make property auctions as simple as possible. However, if you still have questions about the process or if you are unsure if buying or selling at auction is right for you, please feel free to reach out to us. We're here to assist with any questions you may have.
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