Attending Your First Ohio Real Estate Auction

Published On: August 8, 2016|Categories: Buyers, Real Estate, Sellers|

Attending your first Ohio real estate auction can be a really exciting day. Knowing what to expect before you get there can help you to prepare before you go and understand the process once you are there. Here are just a few things to think about:

Financial documentation is a must. In order to bid at a home auction in Geauga County, you will have to bring financial documentation that you have either been pre-approved for a loan to purchase the property or you have a letter from a bank stating that you have the funds. You will also need to be able to put down a deposit on the property before you leave the auction, so that is one item to talk to the auctioneer about.

You can inspect the property before it goes on the block. Many people new to the auction field think that they can’t go into the property before it is sold. That is generally not true. In fact, many auction companies hold open houses in order to allow people to tour the property and conduct inspections prior to the actual auction.

Want more information on going to your first auction and what to expect? Contact auctioneer Dan O’Reilly and the O’Reilly Team today!