Navigating the Real Estate Market: Insights & Trends

Posted on August 24, 2023July 15, 2024 by miedema3

Navigating the Real Estate Market: Insights & Trends

In the ever-evolving world of real estate, staying informed about the latest insights and trends is crucial for both buyers and sellers. Whether you’re a first-time homebuyer or an experienced investor, understanding the dynamics of the market can make a significant difference in your real estate journey. At LASTBIDrealestate, we’re committed to providing you with valuable insights and up-to-date trends to help you navigate the complex landscape of real estate successfully.

Key Trends Shaping the Real Estate Landscape

As the real estate market continues to shift, certain trends are shaping the way properties are bought and sold. Being aware of these trends can give you a competitive edge:

Digital Transformation in Real Estate: The digital age has revolutionized the way real estate transactions take place. Online platforms like LASTBIDrealestate have made it easier for buyers to explore properties virtually and for sellers to showcase their listings to a broader audience. This digital transformation has accelerated the buying and selling process, making it more efficient and convenient.
Sustainability and Green Features: With a growing emphasis on environmental consciousness, properties with green features are in high demand. Energy-efficient appliances, sustainable materials, and properties with a smaller carbon footprint are attractive to environmentally conscious buyers.
Shift in Urban vs. Suburban Preferences: The pandemic prompted a shift in housing preferences. Many individuals and families moved away from crowded urban centers in favor of more spacious suburban or rural areas. This trend has led to increased interest in properties outside of city limits.
Rise of Remote Work: Remote work is currently still a heavy trend, and this has influenced real estate decisions. Homebuyers are now looking for properties with designated home office spaces and reliable high-speed internet connectivity. Proximity to workplaces is becoming less of a priority as remote work allows for more flexibility in choosing a home’s location.

Insights for Buyers on LASTBIDrealestate

For buyers exploring the offerings on LASTBIDrealestate, here are some key insights to consider:

Comprehensive Property Listings: Our platform boasts an extensive range of property listings. From cozy suburban homes to luxurious equestrian centers, you can find a diverse array of options to suit your preferences.
Virtual Tours: Take advantage of our virtual tour feature (when applicable), which allows you to explore properties from the comfort of your own home. This is especially beneficial if you’re relocating from a different city/state or simply want to narrow down your options before visiting in person.
Neighborhood Insights: Beyond the property itself, we provide valuable information about the neighborhoods. Learn about nearby schools, healthcare facilities, shopping centers, and transportation options to ensure the chosen location aligns with your lifestyle.

Strategies for Sellers on LASTBIDrealestate

If you’re selling a property through LASTBIDrealestate, here are some strategies to make the most of your listing:

Highlight Unique Features: Make your listing stand out by highlighting unique features of your property. Whether it’s a beautifully landscaped backyard, a state-of-the-art kitchen, or a stunning view, these attributes can capture a buyer’s attention.
Professional Photography: High-quality, professional photographs can make a world of difference in how your property is perceived. A picture is worth a thousand words, and eye-catching images can generate more interest in your listing.
Accurate Pricing: Setting the right price is essential for a successful sale. Our platform provides insights into comparable properties in the area, helping you make an informed decision about the listing price.

Staying Ahead with LASTBIDrealestate

In the dynamic real estate market, staying informed is key to making informed decisions. LASTBIDrealestate offers several resources to help you stay ahead:

Blog and Resources Section: Our blog is a treasure trove of articles, guides, and market insights. From tips for first-time homebuyers to investment strategies for seasoned investors, our blog covers a wide range of topics to cater to your needs. View more of our blogs.
Email Subscriptions: Subscribe to our email updates to receive the latest information about market trends, new listings, and exclusive deals directly in your inbox. Subscribing is easy, just click here and follow the prompts.
User-Friendly Interface: Our user-friendly interface makes it easy to navigate through listings, apply filters, and compare properties. Whether you’re using a desktop or a mobile device, our platform is designed for seamless usability. To view our properties selling via online auction or by traditional sales we check us out.

The world of real estate is constantly evolving, and being well-informed is the key to success. Whether you’re a buyer looking for your dream home or a seller aiming to maximize your property’s potential, LASTBIDrealestate provides the tools and insights you need to navigate the market effectively. With a focus on digital innovation, sustainability, and understanding shifting preferences, LASTBIDrealestate is your partner in making informed real estate decisions. Start your journey with us today and unlock a world of possibilities in the real estate market.

Selling Your Property on LASTBIDrealestate: A Step-by-Step Guide

Posted on July 25, 2023July 15, 2024 by miedema3

Selling Your Property on LASTBIDrealestate: A Step-by-Step Guide

Are you looking to sell your real estate quickly and efficiently? LASTBIDrealestate is your one-stop solution for achieving the best possible outcome in the real estate market. With our innovative online auction platform, you can maximize the exposure of your property to potential buyers and close deals faster than ever before. In this step-by-step guide, we will walk you through the process of selling your real estate on LASTBIDrealestate, ensuring a successful and profitable transaction. Follow along as we dive into this blog: Selling Your Property on LASTBIDrealestate: A Step-by-Step Guide.

Step 1: Contact Our Real Estate Experts

The first step towards selling your property on LASTBIDrealestate is to get in touch with our team of real estate experts. They are experienced professionals who can guide you through the entire selling process, providing valuable insights and recommendations to optimize your auction listing. Contact our team today.

Step 2: Gather Essential Property Information

Gather all the essential information about your property. This may include high-quality photographs/drone footage, or video; detailed descriptions, floor plans, and any relevant documents such as title deeds or certificates. Providing comprehensive and accurate information will attract more potential buyers and increase your chances of receiving competitive bids.

Step 3: Determine Real Estate Value

Meeting with our Real Estate experts gives you first hand knowledge of what the real estate market is currently doing in your area as well as with your type of real estate. Setting the right selling price is crucial as it can significantly impact the outcome of the auction. Our team of experts at LASTBIDrealestate can assist you in determining the optimal price based on market trends and property evaluations.

Step 4: Choose Your Auction Date

Select the auction date that suits your preferences and requirements. Shorter auction periods can create a sense of urgency among buyers, while longer durations can attract more potential bidders. At LASTBIDrealestate, you have the flexibility to choose auction dates that range from a few weeks to several months.

Step 5: Launch Your Property Auction

Now comes the exciting part – launching your real estate online auction! Once your listing is live on our platform, our vast network of potential buyers will be able to view and bid on your property. Utilizing our platform’s user-friendly interface, interested buyers can place bids conveniently from anywhere, at any time.

Step 6: Promote Your Real Estate Auction

To further increase the visibility of your real estate auction, take advantage of local real estate networks and social media platforms. Share your listing with friends, family, and colleagues, encouraging them to spread the word. Our platform also enables you to share your auction on various social media channels directly, amplifying the exposure of your property to potential buyers.

Step 7: Engage with Potential Buyers

Throughout the auction duration, our team will be engaging with potential buyers by promptly responding to inquiries and providing additional information when needed. Building a positive rapport with interested parties can enhance their confidence in the real estate and lead to more competitive bidding.

Step 8: Monitor the Auction Progress

Here at LASTBIDrealestate, our auction professionals will be keeping you informed about the progress of your auction by regularly monitoring the bids and auction activity on our platform. We can track the number of views your listing receives, the number of bids placed, and any updates from potential buyers.

Step 9: Evaluate Bids and Close the Deal

As the auction draws to a close, our top of the line technology is able evaluate the bids received and determine the highest offer. Once the auction has completed and no more bids have been placed, congratulations! You have successfully sold your property on LASTBIDrealestate.

Step 10: Finalize the Transaction

Once you’ve accepted the winning bid, finalize the transaction by completing the necessary paperwork and legal formalities. Our platform provides secure payment options and facilitates a smooth and hassle-free closing process.

By following this step-by-step guide, you can harness the power of LASTBIDrealestate’s online real estate auction platform to sell your property swiftly and profitably. Our user-friendly interface, vast network of potential buyers, and expert guidance ensure a seamless selling experience. List your property on LASTBIDrealestate today and unlock its true selling potential! If you would like to talk to one of our real estate auction experts, please call 616-538-0367 or email Jordan Miedema at Jordan@1800lastbid.com.

Exploring Different Property Types: Residential, Commercial and More

Posted on July 10, 2023November 7, 2023 by miedema3

Exploring Different Property Types: Residential, Commercial and More

The real estate market offers a diverse range of property types, each with its unique characteristics and investment potential. Whether you are a homeowner, investor, or business owner, understanding the different property types is crucial for making informed decisions. LASTBIDrealestate.com, an esteemed online auction real estate company, provides a platform to explore a wide array of property types. In this blog post, we will delve into the world of residential and commercial properties, as well as other property types, to help you gain a better understanding of their features and potential for investment. Continue reading exploring different property types: Residential, Commercial and More.

Residential Properties

Residential properties are the most common and widely recognized property type. These include single-family homes, townhouses, condominiums, and multi-family buildings. Residential properties cater to individuals and families seeking a place to live or investors looking for rental income.

Single-family homes are standalone properties ideal for homeownership, offering privacy and autonomy. Townhouses and condominiums offer a more communal living experience with shared amenities and maintenance services. Multi-family buildings, such as duplexes or apartment complexes, provide an opportunity for investors to generate rental income from multiple units.

Residential properties are influenced by factors such as location, neighborhood amenities, school districts, and housing market trends. Investing in residential properties can provide long-term value appreciation and rental income potential, making them an attractive choice for investors and homeowners alike.

Commercial Properties

Commercial properties are designed for business purposes, serving as the foundation for commercial ventures and income generation. These properties include office buildings, retail spaces, industrial warehouses, and hospitality establishments such as hotels or restaurants.

Office buildings are tailored for professional services, providing workspace for businesses and organizations. Retail spaces, ranging from small storefronts to large shopping centers, accommodate businesses that serve consumers directly. Industrial warehouses cater to manufacturing, storage, and distribution operations. Hospitality establishments are designed to accommodate travelers and offer lodging, dining, and entertainment services.

Commercial properties present unique investment opportunities. They generate income through rental leases or business operations, making them appealing to investors seeking cash flow and potential appreciation. However, commercial properties often involve longer lease terms, tenant management, and higher upfront costs compared to residential properties. Understanding local market conditions, demand drivers, and tenant preferences is crucial for successful commercial property investment.

Other Property Types

In addition to residential and commercial properties, there are various other property types worth exploring. These include vacant land, agricultural properties, recreational properties, and specialty properties such as healthcare facilities or educational institutions.

Vacant land offers the potential for development, whether it be for residential, commercial, or agricultural purposes. Agricultural properties encompass farmland, vineyards, or ranches and are ideal for agricultural or agribusiness activities. Recreational properties, such as waterfront properties or hunting land, provide opportunities for leisure activities and outdoor enthusiasts.

Specialty properties cater to specific industries or needs. Healthcare facilities serve the medical sector, while educational institutions house schools or universities. These property types often require specialized knowledge and considerations due to regulatory requirements or unique operational needs.

The world of real estate encompasses a vast array of property types, each with its own potential for investment and unique characteristics. Whether you are interested in residential properties for homeownership or rental income, commercial properties for business ventures, or other specialized property types, LASTBIDrealestate.com offers a platform to explore and engage with these opportunities. Understanding the features, market dynamics, and investment potential of different property types is essential for making informed decisions. Take advantage of the diverse options available in the real estate market and leverage the expertise and platform provided by LASTBIDrealestate.com to explore and acquire properties that align with your goals and aspirations.

Looking for additional information about LASTBIDrealestate Services? Look no further and contact us.

How to Win the Bidding War on LASTBIDrealestate.com

Posted on June 20, 2023April 24, 2024 by miedema3

How to Win the Bidding War on LASTBIDrealestate.com

In the realm of real estate, real estate auctions have emerged as a dynamic and exciting way to buy and sell properties. LASTBIDrealestate.com is a leading online platform that specializes in real estate auctions, offering a unique opportunity for buyers to acquire their dream properties. However, participating in real estate auctions can be a competitive endeavor, and understanding the details of the bidding process is essential to secure a successful purchase. In this blog, we will delve into the world of property auctions and provide valuable insights on how to win the bidding war on LASTBIDrealestate.com, enabling you to navigate this thrilling landscape with confidence.

All

Research & Due Diligence

Before engaging in a real estate auction on LASTBIDrealestate.com, thorough research and due diligence are essential. Familiarize yourself with the real estate available for auction, carefully examining their descriptions, photographs, and any additional information provided. Conduct a comprehensive analysis of comparable real estate in the area to gain insights into the market value and determine a realistic bidding strategy. Furthermore, investigate the property’s history, including any liens, taxes, or legal considerations that may impact its value or the transaction process. Understanding the property’s condition and potential repairs or renovations required will help you assess its true worth.

Set a Budget & Stick to It

Establishing a budget is fundamental when participating in real estate auctions. Determine the maximum amount you are willing to spend, considering additional costs such as closing fees, renovations, or taxes. It is important to set a realistic budget that aligns with your financial capabilities and desired return on investment.

During the bidding process, it can be tempting to get caught up in the excitement and exceed your predetermined budget. However, maintaining discipline and sticking to your financial limits is important for a pleasant experience. By doing so, you avoid the risk of overextending yourself and ensure a sound investment decision.

Attend Real Estate Auction Previews

LASTBIDrealestate.com often provides auction previews, allowing potential buyers to inspect the properties before placing bids. Take advantage of these opportunities to visit the properties physically and assess their condition firsthand. Attend scheduled open houses or schedule private viewings to gain a comprehensive understanding of the property’s features, potential, and any required repairs.

By attending auction previews, you can also interact with the auction staff, ask questions, and seek clarifications. This engagement will provide you with additional insights and a better understanding of the property, enabling you to make informed bidding decisions.

Monitor Real Estate Auction Activity

To stay ahead in the bidding war, closely monitor the auction activity on LASTBIDrealestate.com. Pay attention to bid increments, the pace of bidding, and the behavior of other participants. This information can help you gauge the level of interest in a particular property and adjust your bidding strategy accordingly.

Consider setting up alerts or notifications for properties you are interested in, enabling you to receive updates on bidding activity in real-time. This allows you to respond promptly and make strategic decisions during the auction. LASTBIDrealestate.com offers the opportunity to set up text notifications to allow you quick alerts if you have been outbid. If you would like to set that you, log into your account and go to your preferences to set that up here in the upper right hand corner of the website.

Employ Smart Bidding Strategies

Winning a bidding war requires employing smart strategies tailored to each property and situation. Avoid revealing your maximum bid too early, as this may encourage competitors to keep bidding until they surpass your limit. Instead, start with conservative bids and gradually increase them as necessary.

Consider utilizing proxy bidding, where you set your maximum bid in advance, and the system automatically increments your bid as other participants place theirs. Proxy bidding allows you to stay competitive without constantly monitoring the auction and gives you an advantage in the final moments.

LASTBIDrealestate.com opens doors to exciting opportunities in the property market through its real estate auctions. By conducting thorough research, setting a budget, attending auction previews, monitoring auction activity, and employing smart bidding strategies, you can increase your chances of winning the bidding war and securing your dream property on our trusted platform. To view our upcoming real estate auctions, click here. Looking to see what real estate auctions sold for in the past? Click here to view.

Key Reasons Why LASTBIDrealestate.com Should Be Your Go-To for Real Estate

Posted on June 8, 2023April 24, 2024 by miedema3

Key Reasons Why LASTBIDrealestate.com Should Be Your Go-To for Real Estate

Real estate has long been considered a lucrative investment option, offering potential for significant returns and wealth accumulation. If you’re looking to capitalize on the opportunities presented by the real estate market, LASTBIDrealestate.com is the platform you need. With its user-friendly interface, extensive property listings, and transparent auction process, LASTBIDrealestate.com is the ideal resource for investors and first-time buyers seeking to acquire properties at competitive prices. In this blog post, we will explore the key reasons why LASTBIDrealestate.com should be your go-to platform for real estate purchases.

A Wide Range of Property Listings

One of the standout features of LASTBIDrealestate.com is its extensive and diverse range of property listings. Whether you’re interested in residential, commercial, or even vacant land, LASTBIDrealestate.com has you covered. The platform hosts a comprehensive inventory of properties across different locations, allowing you to explore opportunities in various markets and investment strategies.

The website’s intuitive search functionality enables you to filter properties based on your specific preferences, such as location and property type. This saves you time and helps you find properties that align with your purchasing goals. Additionally, detailed property descriptions, high-resolution images, and virtual tours provide you with valuable insights into each listing, allowing you to make informed decisions.

Transparent Auction Process

LASTBIDrealestate.com operates through a transparent auction process, ensuring fairness and equal opportunity for all bidders. The platform clearly displays auction start and end times, as well as minimum bid amounts, allowing you to plan your bidding strategy accordingly. As potential buyer, you can participate in the live online auctions, submit pre-bids, or utilize the proxy bidding feature, which automatically places bids on your behalf up to your specified maximum amount.

This transparent auction process fosters a level playing field, enabling buyers to compete for properties based on merit rather than personal connections or biases. Furthermore, LASTBIDrealestate.com provides comprehensive information about each auctioned property, including property history, condition reports, and any disclosures. Such transparency empowers you to make well-informed buying decisions and mitigate potential risks associated with property acquisition.

Expert Support and Guidance

LASTBIDrealestate.com understands that investing in real estate can be a complex endeavor. That’s why they provide expert support and guidance throughout the entire process. The website’s team of experienced real estate professionals is readily available to answer your questions, provide additional information on properties, and assist with any concerns you may have.

Whether you are a seasoned investor or a first-time buyer, LASTBIDrealestate.com offers educational resources and guides to help you navigate the particulars of real estate investment. From bidding instructions to due diligence tips, these resources empower you to make sound investment choices and maximize your returns.

Bottom Line? LASTBIDrealestate.com is for YOU

Buying real estate can be a game-changer for your financial portfolio & family, and LASTBIDrealestate.com is the ultimate platform to support your real estate buying journey. With its wide range of property listings, transparent auction process, and expert support, LASTBIDrealestate.com simplifies the process of finding and acquiring real estate investments. Whether you’re looking for residential properties, commercial ventures, or vacant land, LASTBIDrealestate.com offers the tools and resources necessary to make informed decisions and seize profitable opportunities.

What's Next? Contact Us...

Visit LASTBIDrealestate.com today and unlock the potential of real estate at auction.

Looking to speak to our Real Estate professionals? Contact Jordan Miedema today to see how we can benefit you! 616-460-8936 or email Jordan@1800lastbid.com or connect with us at our Contact Us Page.

Real Estate Investing Basics

Posted on March 31, 2020February 28, 2020 by admin

Real Estate Investing Basics

Should You Buy A House at Auction?

Real estate investing has been on the rise, both for commercial and residential properties. Owning real estate diversifies your investment portfolio and provides long term benefits that you can continue to reap long after purchasing a property. Auctions are a great way for you to dip your toes into real estate investing without having to worry about shelling out tons of money for your first property. Regardless of your plans for your property, auctions are a fantastic way to invest in real estate.

Benefits of Residential Real Estate Investments

1. Stop Paying Rent

When you pay rent each month you are essentially throwing money away. That may sound harsh, but when you compare paying rent to paying off a mortgage it makes a lot of sense. If you choose to purchase a home in an auction, the money that you would be paying towards rent will be used to pay off your mortgage. You’re still spending money, but now you are paying off an asset that will belong to you – so it all evens out. Plus, after you pay off the mortgage that money can be invested in other areas of your finances!

2. Appreciation

If you are taking care of your home you are likely increasing it’s value. Every time that you make an upgrade you are adding value that will pay off when you go to sell the property. Changed the hardware in the kitchen? Repainted the exterior? Put in new carpet? All of these renovations add up and let you list a higher asking price. Your home will appreciate over time as long as you are performing proper maintenance.

3. Additional Income

Purchase a home at auction and then rent it out! Instead of paying rent, be the person who collects it! If you don’t plan on living in the property yourself, renting it out is an amazing way to make money. Your renters will essentially be paying for the mortgage each month, but you will own the property. Plus,

once everything is paid off (or if you charge higher rent that your monthly payment) you will have an additional income source. Bonus tip – purchase a duplex and live in one unit while the rent from your tenant pays for the mortgage. Then you aren’t paying for rent or a mortgage!

4. Fix & Flip

You have probably seen HGTV shows where a team of people purchases a less than stellar property, completes amazing renovations and then sells it for way more than they paid for the home. For many people this sounds like a great way to make some extra cash while developing their DIY skills. House flipping can be extremely profitable, especially when you pick up a property in a foreclosure auction.

Do all of those things sound good to you? Then it might be time to consider purchasing a house at auction! Like we said, purchasing a residential property at an auction is a great, low-risk way to start investing in real estate. When you start looking at auctions, there are a few things that you will want to do to make sure you are ready to jump into real estate investing.

Note As-Is/Subject to Approval Properties

When you are looking at properties make sure to understand any and all selling terms. One of the main differences between an auction and traditional real estate sale is that the property will likely be sold As-Is. This means that you will be sold the property exactly as it is. You won’t be able to negotiate any renovations from the seller, since most of the time banks and other third parties are in charge of selling the properties. Another term to look out for is Subject to Approval. In most foreclosure auctions financial institutions are looking to recover as much of their loss is possible, so they may have to approve the offered amount to make sure that it will be enough for them.

Inspect the Property

After sorting through all the information and pictures that you can find online

for the property, look for inspection times and dates and then go check it out yourself in person! Assess any major repairs you will have to make and evaluate if the property suits your needs. If you’re planning on living there you will want to like your house! Try to think objectively and remember that this is a real estate investment.

Assess your Finances

Before you start bidding on a property, make sure you know what you can afford to pay. Sit down with your bank and get a preapproval for a loan if you don’t plan on paying for the property outright. Consider the interest rate that you would be paying and evaluate the costs of any repairs that might have to be made. Just because you can afford the base cost to bid doesn’t mean that you can afford to make all the repairs you want. We never want a buyer to have to foreclose themselves!

Residential real estate is truly an incredible investment and that can save you a lot of money and bring you additional income! If you have further questions about real estate investment, we would love to talk with you. Feel free to contact us here. If you are ready to start browsing for your next investment, click the button below to head over to our auction site!

What Does “Without Reserve” Mean for Real Estate Auctions?

Posted on March 18, 2020February 28, 2020 by admin

What Does “Without Reserve” Mean for Real Estate Auctions?

Know your auction terminology

Auctions are a fantastic way to buy and sell property. Sellers are able to avoid the hassle of a traditional real estate sale and know exactly when their property will sell. Buyers have the opportunity to look at a wide variety of properties, avoid the negotiation process, and can find great investment properties that fit their budget. Regardless if you are buying or selling, it’s important that you know all the auction lingo so that you are fully informed and can reap the greatest benefits from your auction experience. We are going to dive in specifically to cover two terms – “with reserve” and “absolute” auctions – so that you can make informed decisions before heading into your next auction.

With Reserve

If you come across an auction that is labeled as “with reserve” it means that the seller has set a minimum price at which they are willing to sell their property. This minimum is not disclosed to bidders interested in buying the property, nor is it the same as the starting bid. The reserve price is likely around the price of what the seller is looking to receive for their property. If the highest bid at the end of the auction does not reach the seller’s reserve, they can choose not to sell the property.

Absolute

The other type of real estate auction you are likely to find is a “without reserve” or “absolute” auction. Essentially this is the opposite of a “with reserve” auction. The seller has listed the property without a minimum price and will sell their property to the highest bidder no matter what once the auction closes.

Sellers

As a seller, you will have to determine if you want to list your property as “with reserve” or “absolute” when setting up your auction. Both have advantages depending on your specific circumstances. If you want to make sure that you receive a fair value for your property you might want to sell “with reserve.” This will bring you more serious buyers who have stake in the game and will

be more invested in winning your property. Additionally, if your reserve price isn’t reached, you have the option of still selling it to the highest bidder or selling your property in another way.

On the other hand, if you have been trying to sell a piece of property for a long time you may want to consider an “absolute” auction. You may have to make some compromises about what you plan on getting for the property, but absolute auctions are extremely attractive to buyers and you know that your property will be sold at the end of the auction.

Buyers

When heading into a real estate auction it’s important to understand how to win a property. “With reserve” auctions are great if you are seriously considering a property and are willing to put your money where your mouth is. Additionally, you will probably have fewer buyers competing with you for the real estate. “Without reserve” or “absolute” auctions tend to be buyer favorites, because you don’t have to play any guessing games. If you are the highest bidder when the auction ends you know you’ve won the property.

We hope this has cleared up the difference between “with reserve” and “without reserve” real estate auctions! You can always refer back to the infographic below for a quick reminder of the difference between the types of real estate auctions. If you have any further questions about other real estate auction terms or are looking to sell your property, feel free to contact us here. If you’re ready to start bidding on a property, click the button below to see what auctions we have coming up!

How To Get The Most Out of Your Residential Real Estate Auction

Posted on March 3, 2020February 28, 2020 by admin

How To Get The Most Out of Your Residential Real Estate Auction

Your Guide for a Successful Sale

Selling your home through a residential real estate auction is a great way to quickly sell your property without the hassle of a traditional real estate sale. Besides knowing exactly when the deal will close, you don’t have to worry about negotiating with multiple buyers or making specifically requested improvements in order to sell. While you technically don’t need to do anything to prepare for your real estate auction, there are several things that we recommend you do so that you can get the best sale possible.

1. Clean Your Home

First things first, you’re going to want to clean you home. We take tons of photos of every property we auction off, which our bidders rely on when deciding if they want to come inspect the house in person and bid on the home. If your home is messy and dirty when we come to photograph it, the mess will be captured in the photo and could impact the value of your home. A messy house could also indicate to bidders that there could be more problems that the photos won’t be able to show. Afterall, if the past owner didn’t take care of the visible parts of the home – what have they been neglecting to care for that can’t be seen? We recommend that you grab your vacuum, mop, and sponge and clean everything in your home top to bottom. Don’t forget about washing the windows and power washing the siding. Then we recommend you have your kids stay with their grandparent’s until we come out to take the photos.

2. Make Minor Improvements

While our homes are traditionally sold As-Is, it can’t hurt for you to make a few updates that could drastically increase the value of the bids you receive. Replace outdated fixtures and hardware, slap a fresh, neutral coat of paint over that bright green wall in the bonus room, and do some minor landscaping (if snow isn’t covering the ground). These small touches can make a huge difference in the appearance of your home, pushing the bidding price higher and higher between the potential bidders.

3.Decide Between Absolute or With Reserve

There are two main types of auctions you can choose between for your residential real estate auction. A ‘with reserve’ auction means that there is a minimum price that the seller wishes to receive for their property in the auction. The reserve is not the same thing as the starting bid, merely a statement that tells us the lowest amount a seller would accept. Reserves make sure that you receive at least the baseline value of your home, and signals to bidders that they will have to realistically value the property if they want to win the auction. If you decide to sell your property this way and the highest bid doesn’t meet the reserve, you have two options. First, you can decide to not sell your property at all. You can go ahead and try to sell it a different way, or simply continue to live in your home. Second, you can lower your reserve and sell to the highest bidder in order to make the sale.

You can also choose to sell your home in an absolute auction. Essentially

this just means that there is no minimum bid and the highest bid will win the property no matter what. This is a great option if you have been sitting on a piece of property for a long time and just want to get rid of it. While you may have to make some small compromises in the final sale price, selling absolute will often bring in a larger number of bidders and almost guarantees that your real estate will be sold by the end of the auction.

4. Work with A Real Estate Auction Company

Make sure that you work with a reputable real estate auction company to ensure that your auction goes off without a hitch! We are professionals that auction off tons of real estate every year, and we know the real estate auction industry like the back of our hand. When you work with a company like us you don’t have to worry about anything, we will do all the heavy lifting and let you sit back and see the bids flowing in.

These are just a few things that you can to do get the most out of your residential real estate auction. We know that you will do everything in your power to make your auction fantastic and bring in the highest bid. If you are interested in selling your home through one of our auctions, contact us here. We can’t wait to work with you!

Looking To Buy?

70 Acres of Development Land Up for Auction

Posted on February 25, 2020February 24, 2020 by admin

70 Acres of Development Land Up for Auction

Fantastic investment property opportunity!

Have you been looking for a good land investment? If so, we have just the auction for you! On Tuesday, March 24th we will be auctioning off 70 acres of land in Washtenaw County, Michigan. This vacant land will be sold in three parcels that can be bid on individually, in any combination or in its entirety. Online bidding beings at 8am on our online auction site. This is future development land and would be a fantastic investment for anyone looking to get into real estate.

This land is open to inspection at any time, so feel free to visit it at any time. If you have further questions about the auction please contact Jordan Miedema. If you have questions about our company or our auction process contact us here.

Jordan Miedema
616-460-8936
Jordan@1800lastbid.com

Parcel A: 37 Acres

Parcel B: 21 Acres

Parcel C: 12 Acres

Parcel Details:

Parcel A – 36.83 Acre Future Development Site in Washtenaw County, MI ~ Online Real Estate Auction featuring approximately 36.83 acres of vacant land/ponds in Washtenaw County. Zoned RM-2, Multi Family, the property is mostly water but has peninsulas offering possible secluded building sites. This property is adjacent to Ford Lake Park and has frontage on Textile Rd. Don’t miss this nice investment opportunity.

Parcel B – 21.27 Acre Future Development Site in Washtenaw County, MI ~ Online Real Estate Auction featuring approximately 21.27 acres of vacant land/ponds in Washtenaw County. Zoned RM-2, Multi Family, this property is mostly water but has peninsulas offering possible secluded building sites.The property is adjacent to Ford Lake Park and has frontage on S Huron River Dr. This is a nice investment opportunity, don’t miss it.

Parcel C – 12.2 acre parcel in Washtenaw County, MI. Online Real Estate Auction featuring a piece of property is located at the end of a subdivision. This land would make a great development property in an area with similar subdivisions and residential properties. A gas line runs the length of the property

Again, please contact Jordan if you have any questions about this auction. Feel free to contact us here with any general questions about LASTBIDrealestate.com. We know that this developmental land will be a great investment for anyone looking to get into the real estate market! Happy bidding!

How to Buy A House with LASTBIDrealestate

Posted on February 17, 2020February 26, 2020 by admin

How to Buy A House with LASTBIDrealestate

Your Quick Reference Guide to Online Real Estate Auctions

Congratulations on deciding to buy a house! This is a big step in your life, regardless if it is your first home, your retirement dream home, or a house you’re planning on renovating to flip. Online real estate auctions are a great way to purchase property, as you are able to avoid the long, drawn-out buying process in a traditional sale. You don’t have to deal with any negotiations, or even the buyer at all! We do all that we can to make the process as easy as possible for you – allowing you to buy a home right from your couch. We wanted to help make the home buying process with us a little easier to understand, so we’ve created this infographic to help you get started!

1. Register

First things first, you have to make sure that you can participate in our auctions! Register here to be able to bid on any of our upcoming auctions. You will fill out your information and enter your credit card information to verify your identity (LASTBIDrealestate.com purchases will not be charged to your credit card).

2. Determine House Type and Location

Sit down and decide where you want to live and what type of home you want to live in! This will help you narrow down your options and allow you to think about what is realistic with your budget. That way, when the perfect home pops up on our site you will be ready to jump on it!

3. Browse our upcoming auctions

Once you know what you are looking for, browse through all of the properties that we have listed. You will be able to use our filter feature to find exactly what you are looking for. If you haven’t found your dream property yet, sign up for real estate auction notices to be notified when new auctions are listed.

4. Place your bid

Once you’ve found your home, decide on your maximum bid and start bidding! You can either set your maximum and go about your day, or you can place bids yourself.

5. Win your home!

Congratulations you won the auction! Pop the champagne, call everyone you know, and start browsing through paint colors and online furniture stores!

6. Sign & Pay

After you’ve won, we will contact you about all of the paperwork. We will ask you what name you want on the deed, where you would like to sign the Buy/Sell Agreement, how you will be paying the Earnest Money Deposit, and if you are working with a mortgage company. You will be contacted to schedule the closing with the title company taking care of the property within 30 days of the auction.

7. Get the keys

Would you look at that? You’re a homeowner! Congratulations on your new home. We can’t wait to see the life that you build for yourself in it. You will get the keys to your property after all the paperwork has been settled and you the closing is complete. Now you can just sit back and enjoy your new home!

We hope that this has been a helpful reference guide for our auction process and that you have a better idea of how to buy a house with us. If you are looking for further information about how the auction works, you can read more here. Ready to start your home buying process? Click the button bellow to view our upcoming auctions. Happy Bidding!