Need Help With Auction Purchase
There is a home that will be sold off at an absolute auction, meaning there is no minimum price. However, I'm wondering if it would be better for me to approach the owners on a short sale? Reason being, if they are not expecting much from the auction, then why shouldn't I attempt a guarantee of purchase without the rigamarole of bidding. Also, the home would only need a couple thousand to bring up to market. Any help appreciated.
try approaching them first, its a good possibilty they'll bite on your offer, even at the auction you may not be getting a good deal. i have seen some houses go for more then FMV just because people dont often know the value of the house
Speaking from no experience whatsoever here, but....
I would think it might help to work into the discussion that you're offering this now because you can't make it to the auction. This might keep them from saying it's a nice offer and you should bring it to the event...
... just a thought.
Thanks for the info...The sale is this week, so I'll have to prepare quickly.