Auction Question
The terms of sale for all of the auctions I have attended so far have been 100% cash, same day. These auctions have generally been sparsely attended and some good deals were to be had. I suspect part of the reason for the sparse attendence was the cash requirements.
In about six weeks I am going to several auctions where the terms of sale are 10% down, remainder due in 10 days. Has anyone who has attended auctions with both terms of sale noticed any difference in attendence or bidding between the two?
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I have conducted many foreclosure sales. The non-cash requirement will draw a few newbies. The professionals who do this for a living have the access to cash immediatley available and it won't change their bidding.