4 Facts About Ohio Real Estate Auctions
Home auctions are becoming more and more popular in Ohio. Selling your home through an auction is a great way to get your home sold quickly, without the hassles of a traditional home selling process. But if you have never sold anything through an Ohio real estate auction, you probably have quite a few questions. Here are 5 facts about Ohio real estate auctions that will help you to understand the process and the benefits of selling your home through an auction:
Homes sold through a Geauga County auction generally sell in about a month. Unlike the traditional selling process, which can go on and on, an Ohio real estate auction is something that is usually scheduled about 30 days from the time the agreement is signed with the auction company.
- The auction company takes care of all of the advertising. During the marketing window before the actual auction occurs, the auction company will take the time to show off your home on a variety of websites, including their own, to help interested parties know that it is available for sale and when the date of the auction is.
- There is time for an open house and inspection. Generally, an auction company will request to have two-to-three days set aside for an open house and inspection period. During this time, people who are considering the purchase of the home can come in and take a tour. They can also bring an inspector to look at the condition of the home. An inspection is usually done for informational purposes only as homes sold through an auction are sold in as-in condition.
- The auction is closed quickly. On the day of the auction, the buyers are registered and required to provide proof of funds or a mortgage approval. The auction itself may take just minutes to complete and the auction company will move the process to the closing procedure, which includes the transfer of the title and move out, which is generally scheduled for 45 to 60 days after the auction.
For more information on how an Ohio real estate auction works, talk to the experts at the O’Reilly Team. We offer full auction services for homes, businesses, and farm equipment. Call today!
