Many houses are sold at auctions each and every day.
One way to make money is to start selling houses you buy at auctions. Houses sold at auctions are usually less expensive than houses you would get elsewhere and you may get a bigger house for a lesser amount of money. However, buying the house at the auction is only one step to making the money. There are many other things you need to do before you start to see a profit from an auction house.
Instructions
1. Get pre-approved for a loan. You'll be able to bargain with more confidence if you know your budget. Get a lender to either qualify or pre-approve you before the auction. If you don't plan on using a loan to buy the home, having your cash in-hand will also give you more of a bargaining edge.
2. Choose the right home. You'll lose money if you have to put a lot of work into fixing the home up before you re-sell it. Instead, select auction homes that don't need many cosmetic repairs, structural work, plumbing repairs or electrical work.
3. Make the home look attractive to buyers. Spend time painting and shining the floors. Spruce up the kitchen and bathrooms. Use neutral or bright colors to make rooms look bigger.
4. Hire a Realtor to sell the home for you. You have one of two options when selling the home. You could hire a Realtor or you could sell the home yourself. Hiring a Realtor could save you the headache of having to do a lot of leg work yourself, but you will have to pay commission fees. Go to a site like Realtor.com to find a Realtor near you.
5. Sell your home yourself. Know what other homes in the neighborhood are selling for so you can price the home right. List your home for sale with listing packages at Forsalebyowner. It will also be helpful to know available loan options so you can steer potential buyers towards lending options, according to Buy-and-sell-house-fast.
Keep the receipts for the repairs and cleaning so you can assure buyers the home has been maintained and have a lawyer or title company on hand to help you with the closing process.
Tags: home yourself, Realtor could, sell home, sold auctions, will also, your home
