Whether it’s purchasing art, classic cars or real estate, auctions have become an attractive platform for investors. However, there are several reasons why some investors have avoided buying both distressed and non-distressed real estate through auctions. Some of these reasons are more mythological than warranted which is why Auction.com is finally dispelling the five common myths about the auction industry.
Myth 1: An auction is the avenue of last resort and only for distressed properties
Like art, jewelry and other high end items, auctions work for stabilized and opportunistic properties in the most desirable markets. True, the platform’s success late in the default cycle is certainly unique and highly valuable to banks and lenders. However, Auction.com is having success in the Class A market, which is realizing that using auctions as a first resort can be very effective.
To read more, visit the 5 Myths of Real Estate Auctions page. What questions do you have about real estate auctions?
