Buying at Auction with Ashland Auction Group
1. Do Your Homework
Find out as much as possible about the property. Review the Terms of Sale. Ensure you have certified funds to bid on auction day. If you have any questions please call a member of our sales team at 410-488-3124.
Click Here to View a Sample Auction Contract
2. Inspect The Property
Take full advantage of any pre-auction Open Houses offered. If the property sale is onsite you will have an opportunity for inspection on Auction Day. Properties will be available 30 minutes prior to the scheduled auction time. Remember you are buying property "AS IS."
3. Prequalify For Financing
At Auction you are purchasing with No Financing Contingencies. If you plan to use financing to purchase a property, it is important to pre-qualify with a lender. This can be done even before you have a specific property in mind. Knowledge of mortgage financing qualifications will help you determine the amount you're able to pay for any property, increasing your comfort level and allowing you to bid with confidence.
4. Attend an Ashland Auction
Check out our web site and join our Email list to educate yourself about auctions in your area. To familiarize yourself with the process before you participate as a bidder, it may be helpful to first attend one or more auctions as an observer.
5. Plan Your Bid Strategy
Examine the property, review available information, and consider any financing issues to determine your bid limit. Plan to compete. Most bidders will be thinking in the same price range. Only the one who bids the top number first can succeed.
6. Register to Bid
On auction day bring certified funds to bid, the deposit amount will be listed in the Terms of Sale. Check in with one of the Ashland Auction Group associates who will verify your funds and authorize you to bid. You will receive a Bid Packet containing a Property Information Package, including Terms of Sale, Purchase & Sale Agreement, and other important documents.
7. Bid Aggressively
Until the "hammer falls" or you reach your bid limit, compete aggressively. There can be only one winning bidder for each property. Best wishes for the success of your bids!