: The seller sets a minimum "reserve" price; if bidding doesn't reach this mark, they aren't obligated to sell.
: Secure financing before the event. Most auctions require a 10% deposit immediately and the balance within 28–56 days. Be aware of the Buyer’s Premium , an extra fee (often ~10%) added to your winning bid price. real estate auction
: Never bid without researching. This includes: : The seller sets a minimum "reserve" price;
Reviewing the (title deeds, zoning reports, and disclosures) with a solicitor. Conducting pre-auction inspections for structural issues. if bidding doesn't reach this mark
: Most auctions, especially online platforms like Xome or Palace Auctions , require you to register and provide ID/proof of funds well in advance.
