While it’s true that the real estate market is making a slow yet highly anticipated recovery, the auction method of sale remains a top option for both buyers and sellers. Whether it’s house flippers, real estate investors, or someone in search of their dream home, real estate auctions are still a sought-after event. Despite their popularity, there are many fallacies that remain when it comes to auctions. Here’s a closer look at some of these myths, along with the real deal on each issue.
Myth #1: All properties being sold via auction are foreclosures and/or in bad physical and financial condition.
Truth: While auctions are a mixed bag, with every foreclosure or distressed property you can also find a luxury home or enterprising commercial building with owners that just want a fast sale…
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