Submitting a Pre-Auction Offer
What is a Pre-Auction Offer?
A pre-auction offer is the best and highest offer that you are willing to submit for the property to pull it off the market before the auction occurs. Although the property may be sold prior to auction, the property will still be sold under auction terms.
Do all sellers entertain offers prior to an auction?
Approximately 99% of our sellers will entertain offers prior to an auction. As a result, about 15-30% of our inventory goes under contract before the auction date.
When can I submit a pre-auction offer?
In order to have enough of time to collect a deposit, pre-auction offers generally need to be submitted two business days in advance of the auction.
What do I need to do before submitting a pre-auction offer?
If a pre-auction offer is accepted, a legally binding agreement to purchase the property will be created. For that reason, buyers are advised to perform their due diligence before submitting a pre-auction offer.
How do I submit a pre-auction offer?
After you have performed your due diligence, call our office to speak to an agent about submitting a pre-auction offer on a property.