House, land and foreclosure auctions can be one of the most nerve-wracking ways to buy a property. However, if you prepare yourself with proven bidding tactics, auctions can be a great way to purchase your dream home at a competitive price.
If you’re in-it-to-win-it, familiarize yourself with these top three tips and tricks before attending a real estate auction.
Give The Right Impression
While you may not have control over what other bidders are willing to pay for a property, you do have some control over their perception of whether or not bidding against you is worthwhile. Come well-dressed and maintain a confident demeanour to give the appearance that you are a serious buyer, one whom ‘the other guy’ likely can’t out-bid.
To enhance this appearance, do not make an offer right away. Wait until the bids have reached approximate 80% of your maximum price and then join in, as it will knock out the bargain hunters. A big first bid can be intimidating to others, making them question whether they stand a chance against you. Following bids should be made quickly and confidently to send the message that you are the person who will be closing this deal.
If you are extremely anxious to place bids, consider hiring a professional bidder to do the work for you. A seasoned pro will be able to maintain their cool while placing bids strategically to maximize your chances of getting the property you want at the price you want.
Know Your Limit
Never go into an auction without knowing your absolute limit. If you are emotionally invested in the property it is best to write your limit somewhere on the inside of your hand, so that you are forced to remember it when you’re tempted to exceed it.
In terms of setting a limit, pick a figure that isn’t rounded. Many buyers will set limits such as $500k or $1.2 million, and will drop out after these round figures have been reached. If your limit is $515k or $1.25 million, you will have an extra cushion than may just barely outbid your rivals – and that’s all you need to win.
Ask The Hard Questions
Do your research beforehand and ask the auctioneer about the property’s flaws. Questioning whether the deck is up to code or whether there is still a possibility of road widening could make other bidders second guess the property and drop out before bidding has even begun.
Ready to blow the competition out of the water? Make sure you are completely prepared for an auction, contact me today – J.P. Cook – 602-320-4253.
Click Here to See What Your Home is Worth
3935 E Rough Rider Road
Phoenix, AZ 85050
$465,000
2
Beds
2
Baths
1,386
SqFt
Status
Active
MLS #
6669384
Property Type
Townhouse
Price Type
--
Villages at Aviano is like living in a resort year round. Perfect lock & leave lifestyle. Extremely well cared for SINGLE LEVEL Amici model. No stairs, 2 bedroom/2 bathroom with 2car tandem garage. ORIGINAL owner who has occupied a fraction of the time as it has served as a second home. NEVER used as a rental! Finishes include new LV flooring (2022) and tile in all major spaces and walkways with carpet in the two bedrooms. Granite counters in the kitchen and primary bathroom, stainless appliances, solid wood doors, arched entryways, full laundry w/newer units (2022), newer HVAC (2022) new W/H (2024) split floor plan, and wired for surround sound. Minutes from the Desert Ridge Marketplace, Mayo Clinic, Wildfire Golf Club, Top Restaurants and High Street, and easy access to the 51 &101
18798 N Piccolo Drive
Maricopa, AZ 85138
$465,000
5
Beds
3
Baths
2,722
SqFt
Status
Active
MLS #
6670388
Property Type
Single Family Residence
Price Type
--
PRICE IMPROVEMENT! STUNNING Single Level Built in 2021 w Over 2700 Sq Ft! Boasting 4 spacious beds with walkin closets + enclosed den, 3 FULL baths (second master with on suite!) & formal dining room! Gorgeous kitchen overlooks the great room & features staggered White cabinetry, granite countertops, subway tile backsplash & SS appliances w GAS range! UPGRADES include soaring 10+ ft ceilings, 5 in baseboards, wood plank tile, plush carpet, modern fixtures, designer paint, gas hookup to dryer, extended garage w epoxy flooring & more! Palatial master features dual sinks, oversized walk-in shower & soaking tub & huge walkin closet! Step through the oversized doors to your own BACKYARD OASIS with sparkling pool, extended paver & travertine deck, large pergola & shed with NO NEIGHBORS BEHIND!
256 S Hobson --
Mesa, AZ 85204
$465,000
2
Beds
2
Baths
1,155
SqFt
Status
Active
MLS #
6674970
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home! This stunningly remodeled single-story gem in Mesa, AZ boasts 2 beds, 2 baths, a den, and a spacious great room. Step inside to discover a model-home-worthy interior, featuring new lighting, plumbing fixtures, and energy-efficient windows, complemented by beautiful vinyl plank flooring. The large kitchen dazzles with quartz counters, backsplash, and stainless appliances, including a refrigerator. Plus, washer and dryer are included for your convenience! Outside, the new front yard pavers and turf enhance curb appeal, while the new roof with foam-sealed attic ensures lower electric bills. Relax in the expansive backyard surrounded by mature trees. Perfectly situated in Mesa, enjoy easy access to freeways, light rail, and the Cubs training facility. Click ''More' Don't miss out on this impeccable home! (Note: Pictures feature virtual staging). ¡Bienvenido a la casa de tus sueños! Esta joya de un solo piso increíblemente remodelada en Mesa, AZ, cuenta con 2 dormitorios, 2 baños, una sala y una gran sala espaciosa. Ingrese para descubrir un interior digno de una casa modelo, con nueva iluminación, accesorios de plomería y ventanas de bajo consumo, complementados con hermosos pisos de tablones de vinilo. La gran cocina deslumbra con encimeras de cuarzo, placa para salpicaduras y electrodomésticos de acero inoxidable, incluido un refrigerador. Además, ¡la lavadora y la secadora están incluidas para tu comodidad! En el exterior, los nuevos adoquines y el césped del patio delantero mejoran el atractivo exterior, mientras que el nuevo techo con ático sellado con espuma garantiza facturas de electricidad más bajas. Relájate en el amplio patio trasero rodeado de árboles añosos. Perfectamente ubicado en Mesa, disfrute de un fácil acceso a las autopistas, el tren ligero y las instalaciones de entrenamiento de los Cubs. No se pierda esta casa impecable! (Nota: Las imágenes presentan una puesta en escena virtual).
1502 E Garfield Street
Phoenix, AZ 85006
$465,000
3
Beds
2
Baths
1,032
SqFt
Status
Active
MLS #
6685102
Property Type
Single Family Residence
Price Type
--
Beautifully updated 3 bed-2 bath home on spacious lot in Historic Garfield. Walk to vibrant downtown Phoenix restaurants, art, festivals, and more! Natural light floods all rooms creating bright + airy ambience. Home has an open floor plan with high ceilings, split bedrooms, indoor laundry, + all new luxury vinyl plank flooring. Kitchen has freshly painted cabinets, quartz counters, + ss appliances. You can live in an adorable historic home w/ all the modern conveniences. Low maintenance desert landscaping in front. Large backyard provides option for casita or office space for those who WFH. 2016 - roof replaced, HVAC replaced, new Pella windows, updated bathrooms & kitchen. 2024 - all flooring + baseboards replaced, all fresh interior paint, and more. This home is an absolute gem!
