I have a current option on a property with a homeowner right now trying to sell it a new home buyer. The option I have right now to buy it is at $300K the market value for the home is right at $400K. I’m trying to move it as fast as I can. Is it possible to go through a auction company to sell the property quickly? I was not sure if they would do it or not since I do not currently own the home outright but I do have an equitable interest in the property with the option? Please give me any feedback would help.
There are sure a lot of people who think they can sell stuff that they don’t own.
I’m always amused when I see people picking up properties with absolutely no exit strategy in mind. How you get paid is THE most important part of any deal. If you don’t have an exit then you’ll NEVER get paid. :banghead
Why don’t you just hold the auction yourself if that’s the way you want to go?
Personally, I would put it on the MLS and offer a 4-5% agent commission to any buyer’s agent. I would also advertise it with No Closing Costs to the buyer. Yes, that means you’ll be paying them but so what, you just made 50-70k. Good luck. :biggrin
Thanks jesmar424 for your input which I will consider using. My exit strategy was still to market to a homebuyer but I just thought that by using the service of auction company it might make the transition a little easier because I’m not an expert when comes to holding my own auction. Tatetot just so you know that you can sell a piece property that you have an option on for price A and sell it at a higher price for price B. Still has anyway had success going through an auction company with this type of transaction?