Real Estate Auctions

No, you don’t need to have the entire purchase amount upfront. However, many auctions require a deposit (usually 10% of the sale price) immediately upon winning the bid. After that, you'll typically have a set time frame, often 30 days, to complete the full payment. It’s important to check the auction terms to ensure you can meet these requirements.

Yes, most auctions allow you to inspect the property before the auction date. In fact, it’s highly recommended to do so, as auction properties are often sold "as-is" with no warranties. Some auction houses may offer scheduled open houses or viewing periods for potential buyers. If you can't physically inspect the property, consider hiring an inspector or researching the area thoroughly.

If you win the bid but fail to make the required payment within the specified time frame, you may lose your deposit, and the property could be re-auctioned. In some cases, you could face legal action or damage your ability to participate in future auctions. It’s important to only bid if you're confident in your ability to pay promptly.

Yes, there may be additional costs or fees when buying at auction. These can include buyer’s premiums (a percentage of the purchase price added on top), closing costs, taxes, or repairs that the property might need. Make sure to carefully review the auction terms and conditions to understand all potential costs before bidding.

At SHERIDANS, we leverage our expertise, extensive network, and state-of-the-art facilities to ensure a successful sales experience for clients, maximizing exposure and value for their properties and personal assets, whether through auction or traditional real estate methods.

SHERIDANS offers comprehensive auction services, including initial consultation, planning, professional marketing efforts, and facilitating the auction event itself, ensuring a seamless experience for clients selling their real estate or personal property through the auction method of sale.