Real Estate auctions have become a tried and true method for selling a home in today's real estate market. Many home buyers realize that no longer are bank owned and foreclosure sales the only "good deals" in today's marketplace. As short sales have taken the forefront for distressed property sales, real estate auctions have become the best kept secret for buying a home at well below market value. How does it work? Well, for starters there are several auction websites that advertise properties all throughout the country. Some of the more popular auction houses for luxury homes will be auction.com and concierge auctions. Another resource for real estate auctions would be the Williams & Williams real estate auction who is currently advertising the sale of a Newport Beach condo located in the Villa Granada community for sale for $425,000. Keep in mind that most auctions will charge the buyer a 5% premium for bidding so make sure you run your numbers before making a bid. Most do allow for real estate commissions to be paid for someone to represent you so It's always best to involve a professional when bidding on a home. If you are a seller thinking about selling your home at auction you have many choices. We recommend consulting with one of our knowledgeable real estate agents on the benefits of doing a real estate auction on your home. If you are a real estate investor looking for a good deal then real estate auctions may be the perfect venue for you. Please contact us today at 949-444-1901 for more information on Real Estate auctions.