Using An Auction To Resell A Property
Hello everyone! Has anyone had experience in using an auction to resell a property they have under contract to purchase? Particularly interested in Washington State and concerned about legally offering an auction as technique for resale.
No, i dont think you can auction someone elses property, especially if there is a mortgage.
I do believe you can auction/raffle your own property. But its near impossible for an individual set up an auction and actually get qualified bid. Cities can do it pretty well.
Good luck and continue to think out of the box.
I have auctioned off a property before that I was not on title of, but I had an option to purchase the property, which gave me an interest in the property. That was in AZ.
Thanks, appreciate the input.
Sell your property at auction can be a good way to sell your home. Look at the comparison chart below shows what the advantages could be sold at auction for you. Auction may be an ideal way to ensure that you get the best price possible and to avoid last-minute show. real estate auctions are becoming increasingly popular, the demand for real estate at auction can often lead to the price run-up.
[ Edited by joel on Date 11/10/2010 ]