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Updated over 10 years ago,
Selling a rehabbed house at auction
Has anyone ever done a rehab (flip) of a single family where you exited by selling the rehabbed house at auction (I'm talking about a move-in-ready rehab)? Can you do just as well selling a rehabbed house at auction as you can on the MLS? Here's my take on it:
- First-time homebuyers aren't confident enough to bid at an auction
- Any buyer that needs a 30-yr residential mortgage will have a lot of hoops to jump through to execute an auction purchase
- Buyers' agents won't ever recommend that a buyer check out auctions because the agent won't get paid
- Most auction buyers are investors who are looking for a below-market deal, so if you want to sell at-market, then an auction won't get you there
I would be really interested if anyone has stories to share on this.