Are you thinking about buying a home at an auction? Making the dream of homeownership come true is becoming more expensive every day. Buyers must consider all available options to save money, including buying a home at auction in KY & OH. Before proceeding, it is highly advisable to learn about the time, costs, and process involved in a successful bid. Beginners in the world of auctions should consider consulting with a professional investor, trusted family member, or friend with a great deal of experience in auctions. Read on as we explore five things you should know about buying a home at auction in KY & OH and why buying from We Buy NKY Houses is a better choice.
No Inspection
One of the things you should know about buying a home at auction in KY & OH is that nearly all are for the property as-is, meaning there is no inspection permitted before your bid. You should also remember that what may seem like a bargain on paper often leads down the path of financial ruin when the new owners discover the need for significant repairs that lead to unexpected expenses. However, you can rest assured you are making a sound investment when you make the better choice of buying a home from We Buy NKY Houses.
No Assurance
There’s no assurance that the title will be clear, which is a crucial thing you should know about buying a house at auction in KY & OH. You could be financially responsible for any existing lien or back taxes on the property. Buying directly from We Buy NKY Houses is a better choice; you can rest easy knowing the title is free and clear.
Bring Cash
You will need 5-15% of the price towards your earnest money deposit, which you must pay within 24 hours with a cashier’s check to buy a home at auction in KY & OH. While some auctions allow for time to acquire a mortgage, you should ensure your ducks are in a row before bidding. Buying from We Buy NKY Houses is a better choice because we offer homes in every price range.
Emotional Escalation
Emotionally charged bids happen frequently, so another thing you should know about buying a home at auction in KY & OH is to go into the auction with a maximum bid limit and stick to it. When you buy directly from We Buy NKY Houses is a better choice because you can be sure you will always pay a fair price when you purchase your new home from We Buy NKY Houses.
Proof of Funds
After the sale, an important thing you should know about buying a home at auction in KY & OH is that you’ll need to provide proof of the funds or documentation of your financing. Again, buying from We Buy NKY Houses is a better choice because our professional investors can help you explore all types of financing options for which you may qualify.
Help in Buying a Home WIth We Buy NKY Houses
If you’re buying a home in Northern Kentucky or the Cincinnati area property, We Buy NKY Houses has the experience you need to help make the buying process easier, less time consuming, and we’re on your side to help make sure you get the best deal while we worry about all of the details.
Either way, countless local homeowners and investors trust We Buy NKY Houses to help them wade through the real estate buying and selling process while keeping more cash in your pocket and helping you save the time and headache of working with less experienced brokers.
If you have questions like: What questions should I ask at a house auction? What is the best strategy for a House auction? Then give us a call! We take the time to listen to your concerns and answer any of your questions here at We Buy NKY Houses, with no obligation. Contact We Buy NKY Houses at (859) 412-1940 today!