Absolute auction. An absolute auction is what most people think of when they hear the word auction. The property goes up for sale, Rocket Mortgage How to Buy a Home at Auction
: The seller has a hidden "reserve" price. Even if you are the highest bidder, the seller can reject your offer if it doesn't hit their secret number. Pros & Cons: Is the Risk Worth It? buying a home at auction
Before diving in, weigh the potential "steal" against the very real risks. Buying auction properties: What to know before you bid Absolute auction
Buying a home at auction can be an exhilarating way to land a property at a significant discount, sometimes well below market value. However, the fast-paced environment and "as-is" nature of these sales mean it isn't for the faint of heart. Even if you are the highest bidder, the