By June Fletcher | The Wall Street Journal
Q. Homes are getting more expensive so I was thinking of attending an auction. But I am intimidated by the whole process. Since there are so many pros at these auctions, should I hire a real-estate agent or other professional to represent me? And is there any way out if I change my mind?
A. Auctions today don’t just happen on the courthouse steps—they can be swank catered affairs held in the foyer of a millionaire’s mansion, or they can be done entirely online or over the phone.
But no matter what the sales venue, the purchasing process is very similar—you line up your financing and do all of your homework on the property beforehand (unlike traditional sales, where inspections occur after a contract is in place); you bid, and if you win, you must be prepared to close quickly.
