Real Estate Auctions Omaha
Real estate auctions in Omaha are not as common as in other
parts of the country. The most common Omaha real estate
auctions are sheriff's sales of foreclosed properties. In some
communities foreclosed properties are sold at real estate auctions held
by a private auction firm. That adds to the cost of the process, but
relieves the county of the burden of holding an auction.
Auction companies do hold real estate auctions in Omaha and the
surrounding areas. Sellers may choose to sell their properties using
auctions in place of or in conjunction with standard real estate
marketing through the Multiple Listing Service. Auctions can speed up
the selling process by designating a day in which offers will be
received and hopefully accepted. Sellers have the option to set a
reserve price which sets a floor to the selling price or hold an
absolute auction where the highest bid buys the property no matter what
price is bid.
A well advertised and well attended auction sets the stage
for competitive bidding. The seller hopes that the competition leads to a
windfall and of course buyers are hoping to get a steal. In reality,
the final price is usually around the market price. Auctions tend to be
more expensive than a traditional listing, but some properties lend
themselves better to an auction environment. For more information on
buying or selling real estate whether at auction or through the MLS
visit our buyers or sellers
Discount commissions for sellers.
Cash rebates for buyers.