Thank you for choosing ERealty Auction. From coast to coast we offer a spectacular array of properties to meet your needs, and motivated sellers eager to sell the properties in our inventory. Whether you are a first-time buyer or a seasoned investor, we’re confident you’ll have an enjoyable experience. We look forward to helping you find the home of your dreams.
Online features online only auctions that typically run for 10 - 15 days. Pre-qualified bidders bid against each other directly. Interested bidders please refer to the property details page regarding specific requirements for participation. Click on the ‘Register’ button and follow the prompts to register for the auction and place your bids.
While it is not required, ERealty Auction encourages you to utilize the services of a real estate agent to guide you through the buying process. The listing agent or an agent of your choice can answer property-specific questions, conduct private showings and review the terms & conditions of sale. Utilize their services at no cost to you!*
*Buyer Note – ERealty Auction strongly recommends buyers pay close attention to the Property Details page for each property of interest as Terms and Conditions may vary, and local and state rules may apply. The majority of our properties are available for Bid Now! pre-auction bidding, and can be sold well before the auction event. Unless otherwise stated, properties on erealtyauction.com are sold with NO LIENS, NO BACK TAXES, and INSURABLE TITLE. With few exceptions (Trustee / Foreclosure and 2nd Chance properties, etc.), buyers can utilize the services of a licensed real estate agent to assist in the home buying process – at no cost. Commission varies by property and by seller.
Can I attend an auction and participate as a spectator and not bid?
Absolutely! There is no better way to learn about auctions then to watch one firsthand.
Are real estate auctions only for distressed property?
This is a major misconception about auctions. The fact is auctions are the primary sales method when selling valuable assets such as vintage vehicles, multi-million dollar homes, and priceless pieces of art
Why sell at auction?
Auctions are the perfect answer when you need to accelerate the timeline for selling your assets. Auctions help reduce holding costs and determine the market price of an asset when the value is unknown or when comparable pricing is unavailable.
Am I required to have cash-on-hand at the auction?
Cash payment is not required at auctions. Auction companies accept multiple forms of payment: cash, check, or credit card. When attending real estate auctions, auction companies may at times require a specific down payment on-site in the form of a cashiers check to qualify as a bidder. Financing is available on auction day with many auction companies where lenders can qualify you for loans on-site and for online auctions you can get a pre-qualification as soon as you contact one of our qualified lenders.
What does "Minimum Bid" mean?
Minimum bids are routinely used at auctions to provide prospective buyers with an initial price range of where bidding will begin. If an auction has a "minimum bid" of $50,000; prospective bidders will know that the auction will start with an opening bid of $50,000 and that the asset will not sell for anything less than $50,000. Often times, auctions are advertised with an "opening bid", this should not be confused with a "minimum bid". An "opening bid" simply means a price where the bidding opens.
What is an "Absolute Auction"?
There are different types of auctions (i.e. Reserve, Minimum Bid, etc.). An "absolute auction" is an auction where the property is sold to the highest bidder. Unlike a reserve auction, there is not a reserve price that must be met to
Can I inspect the property I am interested in bidding on before the auction?
We encourage you to view the property before auction day. Due diligence on the part of the bidder is important with auctions. Contact the auction company managing the auction and inquire about times when open houses will take place, as well as any paperwork available on the property. Auctioneers want you to feel comfortable on auction day. Always feel free to call and ask questions. complete the auction sale.
What is a 'buyer's premium'?
A 'buyer's premium' is commonly used in auctions today as a form of payment for the auction company conducting the auction. The 'buyer's premium' is an advertised percentage of the high bid or flat fee added on to the high bid to determine the total contract price to be paid by the buyer. Aren't auctioned properties sold at a discount? This is one of the biggest misconceptions with auctions. The competitive bidding of an auction and the bidding of prospective bidders sets the price and market value of an asset. The item will not sell for more than the highest bid and will not sell for less than the high bid. You, the consumer, and other bidders determine the market value of an item when you buy at auction.
What does "As Is, Where Is" mean?
One of the most common statements made at auction, "as is, where is" simply means the property is being sold without warranty and that there are no contingencies based on the status of the asset being sold. It is important that you inspect all auction properties before you bid, both real estate and personal property. Photos may not show all the details or potential faults with the asset and it is your job as a well informed bidder to thoroughly inspect and know what you are bidding on BEFORE the start of the auction. Once you bid and buy an asset at auction, you are the new owner.