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.
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2342 E Delgado Street
Phoenix, AZ 85022
$499,000
3
Beds
2
Baths
1,702
SqFt
Status
Active
MLS #
6659389
Property Type
Single Family Residence
Price Type
--
A fantastic family home in the heart of Phoenix. This beautifully updated residence is adorned with charm and offers a perfect blend of comfort and style. This home boasts distinctive curb appeal, highlighted by two mature trees in the front yard and a vast backyard that opens up a world of possibilities. You have a lemon tree, grapefruit tree, and orange tree. Centrally located near the 51 and North Central, convenience is at your doorstep.
12610 N 41st Drive
Phoenix, AZ 85029
$499,000
3
Beds
2
Baths
1,468
SqFt
Status
Active
MLS #
6678767
Property Type
Single Family Residence
Price Type
--
NO HOA!! MAGNIFICIENT GEM. This house is perfect. Fully replaced roof 2019. Newly installed tankless water heater in 2023 with owned soft water system in 2022. Brand new carpet in living room and master bedroom. Pool has a brand new variable speed pump in 2023. Owners spared no expense creating 2 RV gates with concrete slab, electric and dump. Built in garage cabinets for tons of storage with epoxy floors. Garage is plumbed for compressed air to outside lift area that has a 10,000 pound Benpak lift including epoxy coated concrete for easy clean up. Exterior custom built shed has electric, lighting, ceiling fan, epoxy floors, and is fully insulated with attic storage. Fresh paint inside and out including the shed. Networking throughout. This house won't last long. OWNER AGENT
26033 W Sierra Pinta Drive
Buckeye, AZ 85396
$499,000
3
Beds
2.5
Baths
2,669
SqFt
Status
Active
MLS #
6665078
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the Festival Foothills, where luxury and comfort seamlessly blend in this former builder ''show home.'' This exquisite single-level residence boasts 3 bedrooms, 2.5 baths, an office, a family room, and a den, providing the perfect canvas for a harmonious and versatile living experience. As you approach this meticulously crafted home, you'll be captivated by its stunning curb appeal. Step through the front door into a world of refined living, where every detail has been carefully considered. This home is conveniently located near a school, making it ideal for families. Golf enthusiasts will appreciate the proximity to the nearby golf course, while parks and walking trails provide opportunities for leisurely strolls and outdoor activities.
5450 E Mclellan Road
Mesa, AZ 85205
$499,000
3
Beds
2
Baths
1,803
SqFt
Status
Active
MLS #
6668321
Property Type
Apartment
Price Type
--
Welcome to ''The Sanctuary'' in peaceful setting of Alta Mesa Resort Village, one of a kind, private-gated community in North Mesa. Created as a Winter getaway for Owner/family. Seller has spent 5 years handpicking the finest furnishings & updates to his award winning & visionary taste. Every detail has been attended to, making this lovely home a perfect turnkey ''Sanctuary'' for those who are looking for more than just a ''place to eat/sleep'' Unique/Custom floorplan w/ more upgrades than any home in here maximizing space & efficiency. Completely NEW HVAC system! New Tankless water heater! Quartz counters w/ waterfall & Custom Glass bfast bar! Frosted glass doors, Picture Tv's everywhere! SuperSmart home w/ ALL AUTOMATED! 1 HUB/7dots to serve your every command. HOA=water/sewer/cable/wrk
15252 N 100th Street
Scottsdale, AZ 85260
$499,000
3
Beds
2
Baths
1,607
SqFt
Status
Active
MLS #
6683686
Property Type
Apartment
Price Type
--
Welcome to this spacious and inviting 3-bedroom, 2-bathroom condo nestled in the heart of Scottsdale. Upon entry, you'll find a well-designed floor plan that seamlessly combines comfort and functionality. The living area boasts ample natural light and a cozy ambiance, perfect for relaxing or entertaining guests. The modern kitchen is a highlight, featuring sleek countertops, beautiful appliances, and plenty of cabinet space for storage. The adjacent dining area is ideal for family meals or intimate gatherings. The primary bedroom is a private retreat, complete with a walk-in closet and an en-suite bathroom featuring dual sinks and a luxurious shower. The two additional bedrooms are generously sized and offer flexibility for use as guest rooms, a home office, or a hobby sp hobby space. Step outside to one of two private balconys and enjoy a peaceful outdoor oasis, perfect for morning coffee or evening relaxation. Residents of this community enjoy access to fantastic amenities, including a refreshing pool, a tennis court, and beautifully landscaped grounds. Conveniently located, this condo is just minutes away from shopping centers, dining options, parks, and recreational activities, offering the best of Scottsdale living at your fingertips. Don't miss the opportunity to make this condo your new home. Schedule a showing today and experience its charm and comfort firsthand! All furniture currently in the condo is included in the sell!!
5818 S 55th Glen
Laveen, AZ 85339
$499,000
4
Beds
2
Baths
2,099
SqFt
Status
Active
MLS #
6690340
Property Type
Single Family Residence
Price Type
--
This 4 bedroom, 2 bath, 3 car garage home with a split floor plan is on a 10,000+ square foot lot in a gated community! Home also features dual pane windows, 2 inch wood blinds, ceiling fans throughout, paneled doors, and upgraded carpet. Large backyard with a covered patio and space for a pool. Just a couple of minutes from the 202 loop, you have quick and easy access to major major venues, dining, and shopping in both the east and west valley!
3620 E Sumner Place
Rimrock, AZ 86335
$499,000
3
Beds
2
Baths
1,716
SqFt
Status
Active
MLS #
6672634
Property Type
Single Family Residence
Price Type
--
This stunning brand new 3 bedroom/2 bath home is in the pristine gated community of Beaver Creek Preserve in Rimrock AZ. Beautifully done Open floor plan with granite/quartz countertops, kitchen island, wood cabinetry and lots of storage and tile flooring. Private back Patio. Huge RV Storage! No RV? Then sky's the limit of what you can do with that space! Storage for your motorcycles, ATV's, Golf Carts! Turn it into a sports Room w/pool table, Ping-Pong, Man Cave, or add a platform for more storage, build a loft, Car lift.. really anything! Great private space between neighbor's min 20ft easements. Clubhouse offers pool tennis, Lounge area, BBQ for all you Friends and Family! Great location just off the freeway, Peaceful and Quiet! 20 min to Cottonwood, 25 min to Sedona, 1 hr to Flagstaff Lots of hiking trails, fishing and just beautiful scenery! ** Price reflects a 30K incentive reduction by using the builders preferred lender! **Come check it out! Make us an offer today and we can make it work!
5346 W Posse Drive
Eloy, AZ 85131
$499,000
3
Beds
3
Baths
2,139
SqFt
Status
Active
MLS #
6674842
Property Type
Single Family Residence
Price Type
--
FULLY FURNISHED! Beautiful home w/detached casita (bedroom, bath & closet) perfect for friends visiting or a hobby room. Entertainers backyard features a gas fireplace, remote sun shades on patio, beautiful water feature & built in BBQ. Low maintenance synthetic grass, extended paver patio, orange & lime trees! Paver courtyard leading to casita & main entry. 2.5 car garage has a 4 ft ext., epoxy, built in cabinets, sink & service door w/a security door. Den has built in shelving. Spacious laundry room w/lot of cabinets. Bay windows in the master & guest room. Great room has a gas fireplace & built-in shelving. Too many upgrades to list them all. This home comes fully furnished, everything stays & is move-in-ready!
4112 N 6th Avenue
Phoenix, AZ 85013
$499,000
3
Beds
2
Baths
1,215
SqFt
Status
Active
MLS #
6679324
Property Type
Single Family Residence
Price Type
--
Just steps from Phoenix's Melrose District awaits your new home. This remodeled gem boasts 3 beds, 2 baths, and a 1 car garage with easy entry. The kitchen stuns with quartz countertops and new cabinets. Gas stove enthusiasts will love the eat-in kitchen. Enjoy vinyl wood flooring and elegantly redone bathrooms. Dual pane windows flood the space with light. Outside, a covered patio offers endless entertainment possibilities. With Melrose's amenities nearby, embrace a lifestyle of culture and charm.
15 Maxfield Avenue
Bisbee, AZ 85603
$499,000
2
Beds
2.5
Baths
2,636
SqFt
Status
Active
MLS #
6680430
Property Type
Single Family Residence
Price Type
--
An exceptional 1915 structure positioned at the end of the brick road. Exterior walls are large Tufa blocks (a limestone material mined around Douglas, AZ); roof is corrugated metal; interior floors are pine and/or Douglas Fir and Oak. Windows are original, with wavy glass. Ceilings typically 10', except 12' at main bathroom; and 16' at kitchen. Upper level has generous space and light. Sitting rooms, Kitchen, Shower no Tub in Master bath, half bath in hallway, laundry and carport. Lower level was left in its original configuration and consists of a sitting room; bathroom; bedroom; and a partial undeveloped basement. All utilities - water, electrical, waste/drainage - were replaced. Exterior stairs connect upper and lower levels. A few mins walk to downtown Bisbee.
11906 N 190th Drive
Surprise, AZ 85388
$499,000
4
Beds
3
Baths
2,188
SqFt
Status
Active
MLS #
6680329
Property Type
Single Family Residence
Price Type
--
This stunning 4 bedroom 3 bath Surprise home exudes near-new luxury! Recently repainted and carpeted inside, it boasts an expansive open Great Room perfect for gatherings alongside a beautifully upgraded kitchen. Your luxurious primary suite awaits, complete with a huge walk-in closet and shower. Enjoy premium upgrades like a 2nd breakfast patio, tankless water heater, and soft water loop for added comfort. Step outside to your backyard oasis and relish those breathtaking mountain views - the perfect backdrop for relaxing in your Arizona dream home!
20825 W Hubbell Street
Buckeye, AZ 85396
$499,000
5
Beds
3
Baths
2,327
SqFt
Status
Active
MLS #
6681621
Property Type
Single Family Residence
Price Type
--
Better than new home in Verrado with 5bed/3 bath for under $500K. 12 X 24'' tile throughout most of the downstairs with a full bedroom and bath on the main level.Beautifully upgraded kitchen with quartz counters, herringbone tiled backsplash and stainless steel appliances w/gas range. Plantation shutters throughout the home. Large loft with four bedrooms and two baths upstairs. Enjoy all the amenities that the master planned community of Verrado has to offer with convenient access to restaurants, freeway, shopping/Costco and the new Verrado Marketplace coming next year!
