BestOnlineBid.com

How do I host an auction to sell my home?

I'm considering hosting an auction to sell my house; that seems like an interesting option. I would like details outlining how this is done. Thank you.

Public Comments

1. This is a last resort option usually only done out of desperation, usually hosted by the bank who repossess the home.

   This def. won't yield you a fair market value.



2. I've held them, they are fun but a lot of work.

   Ask these guys they'll give you all the info you need.

   Auctioneers Association http://www.auctioneers.org/

   Buena Suerte



3. Don't take a chance of screwing up. You'll be up against a group of professional scam artists who will strip your skin while your watching.

   Contact a broker who specializes in representing the seller only, and will assist you in doing what you want to do. They charge as little as 2% and will do the work for you such as advertising and setting up the auction.



4. There is a book called How to Sell Your Home in 5 Days by Bill G. Effros that tells you how to hold a successful auction of your home. I have read it an it sounds like an interesting way to sell your house but it doesn't sound like the smartest or best way to sell your house.

   Do you want to sell it at auction because it would be fast or because you think it will get the most money? Are you trying to avoid paying a commission? Do you have financial troubles and the auction is the cheapest way to sell?

   I think you need to figure out why you want to sell it by auction and not by owner or with the help of a professional Realtor though.