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 sections.