Home Buying in Baltimore>Question Details

Pamela Boone, Home Buyer in Baltimore, MD

if a property is up for auction, can it be purchased before the auction date or does it have to go through auction

Asked by Pamela Boone, Baltimore, MD Thu Mar 8, 2012

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8
Rob McArtor is correct.... as one of the few actual Foreclosure Auctioneers that also licensed Realtor (myself included) Rob knows what he is talking about from actual "hands-on-experience" (the stuff you get for doing over 40,000 auctions on the courthouse steps over the last 10+ years thru-out the entire State of Maryland - EVERY COUNTY)... for questions like these ask the "real" experts..... don't be fooled by just anyone who thinks they know the answer, you don't learn this stuff from a book or in real estate school.
0 votes Thank Flag Link Thu Mar 15, 2012
Keith does this apply only to Sheriff's tax sales? My interest lies in a property where the owner recently passed away and the children have listed it with an auctioneer. If the children are willing to sell outside of the auction (which they are), is this ok? Would it still have to go through the auctioneer? The auctioneer is also a real estate agent. This is in Kansas. Thanks!
Flag Wed Apr 22, 2015
Yes, property can be purchased prior to auction. Sometimes sellers want to go thru auction but normally there is a preauction pricing also. Answer is yes, property can be purchased prior to going to public aution.

Thanks,
0 votes Thank Flag Link Thu Mar 15, 2012
What do I have to do?
Flag Sat Jan 31, 2015
Pamela what kind of auction is it? Without knowing it is hard to give an accurate answer.
0 votes Thank Flag Link Thu Mar 8, 2012
Yes most of the time properties can be purchase pre auction also. Sometimes sellers do hold out to get better price in auction. You should view property and see if you want to then just ask your realtor to check with auctioneer. Anything can be purchased, buyer wants to buy and sellers want to sell. Thank you.
0 votes Thank Flag Link Thu Mar 8, 2012
I am an Auctioneer with 21 years experience here in Maryland. Most of the time the Seller will agree to look at any offers prior to auction however the basic terms of the Auction sale must be met. If you are thinking of placing an offer on a property that is already scheduled for sale (not a foreclosure). Then your offer should be something a Seller feels he or she could not refuse...or....they have to feel as if they will not be able to get a better price on Auction day. I have sold many properties prior to auction this way. Make it your best and final offer...the Auctioneer and Seller will not negotiate back and forth. I co-operate with Realtors and most Auctioneers do. I would obtain an agent who has a thorough knowledge of the auction process and have them write an offer on your behalf.
0 votes Thank Flag Link Thu Mar 8, 2012
brilliant response! I have been looking at the auction option and have been wondering if it is possible to purchase before an auction. thank you so much! I'd love to utilize your services when i get to the point where i am looking to "hire" an agent!
Flag Fri Mar 16, 2012
It would be difficult to do if the property isn't listed for sale with an agent. If it is, and the auction date is still a couple of weeks out, the agent can present the offer and quite often, stop the sale while the offer is being considered.
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0 votes Thank Flag Link Thu Mar 8, 2012
Hi Pamela!
It depends on the situation and auction terms. Sometimes the auction terms allow for a buyer to purchase prior to auction date. Others may require that it goes to auction. Do you have a particular property in mind?
Please let me know if I can help you further.
Thank you!
Sincerely,
Marney Kirk
Keller Williams Excellence Realty
0 votes Thank Flag Link Thu Mar 8, 2012
It depends on the auction terms. Many times I see that the seller will allow someone to buy the property prior to the auction if the price and terms make sense to the seller.
0 votes Thank Flag Link Thu Mar 8, 2012
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