Real estate markets in many communities have become more erratic and inconsistent over the last few years. Foreclosures are at all-time highs and many owners (both residential and commercial) are seeing their properties as either “underwater” or “upside down.” While mortgage rates are at historical low rates, the ability to obtain a mortgage is extremely difficult and complicated.
Traditional real estate sales continue, however slowly, and real estate auctions have become more visible and prevalent. Brokers/agents, buyers and sellers are interested in real estate auctions but wonder:
- How do real estate auctions work?
- How can a broker/agent make money from real estate auctions?
- How can buyers and sellers participate in real estate auctions?
- What types of properties can be sold in real estate auctions?
- What are some of the strategies for selling properties in real estate auctions?