Recently, we remodeled Auction.com’s entire platform to put a new emphasis on transparency throughout every stage of the bidding process. It was a lot of work, but we know it’s the best way to make sure that every sale we facilitate is fair to the buyer, the seller and every other party involved. Let’s take a look at some of our new policies to see why transparency is so important to a successful real estate auction.
1. The Sellers.
A good transparency policy starts with the sellers. In addition to making every potential seller disclose any and all paperwork associated with their property – including liens and tax forms – we also require that they host an open house before the auction so that buyers can see the property for themselves. This way we can ensure that no unforeseen problems arise after the bidding closes.
2. The Buyers.
We also vet the people who are interested in buying a property through one of our auctions. Every potential buyer has to go through a consultation to make sure they have the finances to pay for a new house. On top of that, we host open bidding so that the seller knows exactly who purchased their property, and we maintain a strict deadline for closing to ensure that payment is made.
3. The Lenders.
Finally, we work only with lenders who have a strong background in real estate. Under our disclosure policy, any lender working at an Auction event must answer all of an applicant’s questions and cannot conceal any terms or conditions associated with their home loans.
Our focus on transparency is just one of the things that makes us the nation’s leading real estate auctioneer. By making sure everything is fully disclosed to everyone involved, we ensure that our events continue to be a win-win all the way around.
