4 steps to Bidding at Auction

Step 1.

Get the Brochure.

A brochure often times can get you the basic information regarding an auction and help you determine initially if you are interested in the property. A brochure will contain photos, property highlights and terms of the sale. Familiarizing yourself with this information first will help you tremendously.

Step  2.

Due Diligence

We at Target Auction are a full disclosure company. This means that if we know something about a piece of property, we let you know about it. Good or bad. Unfortunately, we are not always able to know everything there is to know about every property. And with most auction sales being "as- is" , "where- is" , it is in the bidders best interest to perform a thorough inspection of the property. It is also best if bidders independently verify all information that they feel is important.

Step 3.

View the Property

All of the auctions conducted by Target Auction include an inspection period. Go out and take a look at what you will be bidding on before auction day. This is a great time to ask our representative questions about the property and about how the auction will be conducted. This allows you to show up on auction day with nothing to worry about but how much to bid.

Step 4.

Prepare your Finances

Most auctions are considered as "cash transactions". This does not necessarily mean that you have to pay cash, just that the sale of the property is not contingent on financing. If you plan on getting a loan, go ahead and start that process as soon as you can. We get calls from lenders regularly who need questions answered before they can approve loans and we will be glad to talk with them as early as possible. Also, understand that we will most likely require a 10% down payment on auction day. So having this money readily available is advisable.