Buying: A Home At Auction

: The property is sold to the highest bidder, regardless of the price. There is no minimum bid, making these high-interest events.

Before diving in, weigh the potential "steal" against the very real risks. Buying auction properties: What to know before you bid buying a home at auction

: The auctioneer starts with a published minimum price (e.g., $100,000). All bids must exceed this number to be considered. : The property is sold to the highest

Buying a home at auction can be an exhilarating way to land a property at a significant discount, sometimes well below market value. However, the fast-paced environment and "as-is" nature of these sales mean it isn't for the faint of heart. Buying auction properties: What to know before you

Not every auction follows the same rules. Understanding the format is your first step toward a smart bid: