Real Estate Investing: 3 Insider Tips to Winning House, Land or Foreclosure Auctions

Real Estate Investing: 3 Insider Tips to Winning House, Land or Foreclosure AuctionsHouse, 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

3710 N Hopi Lane Pine, AZ 85544

$448,900
2 Beds
2 Baths
1,200 SqFt
Status Active
MLS # 6680811
Property Type Single Family Residence
Price Type --
WELCOME TO YOUR NEW HOME IN THE PINES! THIS BEAUTIFUL NEWER WELL CONSTRUCTED SINGLE LEVEL HOME IS ALL READY FOR YOUR WEEKEND GET AWAY OR YOUR NEXT PARADISE HOME IN THE PINES, OUT OF THE BIG CITY. ENJOY THE LARGE FAMILY ROOM WITH SOARING VAULTED CEILINGS & COZY FIREPLACE, TONS OF KITCHEN CABINETS, HUGE MASTER BDRM WITH. EN-SUITE BATH ALONG WITH DUAL SINKS & WALK-IN CLOSET. RETRACTABLE BLINDS, CENTRAL AIR CONDITIONING, DUAL PANE WINDOWS, LARGE GUEST BEDROOM & GUEST BATH, LOTS OF STORAGE. YOU'LL REALLY ENJOY YOUR TREE HOUSE DECK AS YOU HEAR THE WIND WHISTLING THRU THE TOWERING PINE FOREST & GAZE UP AT THE ENDLESS STARS. OR CATCH A GLIMPSE OF THE ROAMING ELK AND DEER. THIS HOME SITS ONE STREET AWAY FROM THE NATIONAL FOREST AND AN AWESOME HIKING TRAIL. PINE, IS AZ'S BEST KEPT SECRET. HURRY! AT THE BASE OF THE BREATHTAKING RIM IN THE QUAINT TOWN OF PINE, FILLED WITH GREAT RESTAURANTS, ANTIQUE SHOPS, LIBRARY, POST OFFICE AND MILES AND MILES OF FOREST AND TRAILS, LAKES AND CREEKS NEARBY. (A BEAUTIFUL SHORT 90 MIN. DRIVE FROM THE VALLEY AND ALMOST 20 DEGREES COOLER AND NO 1-17 TRAFFIC JAMS. (SHOW IT AND YOU SELL IT!

1924 E Osborn Road Phoenix, AZ 85016

$448,900
2 Beds
1 Bath
977 SqFt
Status Active
MLS # 6625790
Property Type Single Family Residence
Price Type --
*SELLER FINANCING AVAILABLE* Remodeled from top to bottom in Loma Linda neighborhood right down the street from Phoenix Children's Hospital. All updates permitted w/ City of Phoenix. Home features new shaker kitchen cabinets w/ stainless steel appliances, tons of storage & island w/ breakfast bar. All new bathroom w/ tile tub surround. Real hard wood throughout including new baseboards. Energy efficient w/ new AC unit, new dual-pane windows & doors, tankless gas water heater & new insulation. Inside laundry room w/ extra storage & folding table. All new recessed lighting & ceiling fans throughout. Home has also been re-plumbed w/ new water & sewer lines. 2-car tandem garage that you can pull through into the backyard if you like. Large lot, block construction, no HOA & move in ready!

15829 W Boca Raton Road Surprise, AZ 85379

$448,900
3 Beds
2 Baths
2,071 SqFt
Status Active
MLS # 6647483
Property Type Single Family Residence
Price Type --
Home sweet home! This immaculate 1-story home has no rear neighbors giving you privacy! Come home to cozy yet elegant living, highlighted by a neutral palette throughout & boasts a well-designed split-floor plan w/ 2,071 sq ft of living space, 3 bedrooms plus a double door entry den, & 2 bath, a formal living/dining combo & the kitchen at the heart of the home overlooking the family room & breakfast nook. The well-equipped kitchen features S/S appliances, gorgeous granite countertop, tons of cabinet storage, pantry & kitchen island w/ a breakfast bar. Primary bedroom has a walk-in closet & ensuite bathroom. Step outside & enjoy your low maintenance backyard & relax in the sparkling pool- an ideal setting for true Arizona living. Close to Downtown Surprise, the Performing Arts Center, shopping, dining & great school

10829 W Melvin Street Avondale, AZ 85323

$448,900 - 3Br/3Ba -  for Sale in Roosevelt Park Phase 1, Avondale
Open House
$448,900
3 Beds
2.5 Baths
2,024 SqFt
Status Active
MLS # 6677982
Property Type Single Family Residence
Price Type --
This is it! Featuring an open floor plan where kitchen, dining and living spaces integrate into one large space. This home is ideal for entertaining! Luxurious finishes throughout, upgrades galore! Nestled in a gated community, this pristine home has it all! Gourmet kitchen is a modern chef's delight, complete with oversized island and breakfast bar, granite countertops, stainless steel appliances, GAS range, and walk-in pantry! OWNED Solar Panels! Whole house water softener plus R/O system for kitchen & refrigerator ice maker! Grand master suite offers a spa-like retreat featuring dual vanities and an oversized walk-in shower with teak wood flooring and bench. Step outside to a feeling of being in a secluded tropical island with a beautiful backyard oasis! Large putting green, new hot tub, lighted Pergola, surrounded by a ''tropical island privacy wall''! 2.25% VA mortgage assumable for qualified buyers! Features: *SOLAR power (OWNED) *Soft water and R/O systems *Refrigerator, Gas stove, microwave and washer/dryer included *Tankless water heater *New Hot Tub *Lighted Pergola *Tropical Island privacy wall *Pre-wired for surround sound in living room, flex room and patio

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