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Auctions have proven to be a successful way to sell a home. There are many benefits to auctions including the seller's ability to better control the terms and process of the sale versus the traditional selling process. Auctions are a selling option worth exploring to ensure the best process is selected for your home and your individual needs. It's important for sellers to have a choice and auctions are a viable option that has successfully worked for many Ontario homeowners.

Check out the auction results we achieved for this home:

Benefits

  • Control the terms by setting your ideal closing date, conditions, deposit and reserve price.
  • No surprises exist as buyers understand the terms and conditions of the auction ahead of time and aren’t introducing unique conditions with their offer.
  • Efficient process that sets a deadline for when buyers will bid on your home.
  • Work with qualified and motivated buyers that take the process seriously.
  • Maximize the sale price through transparency, which helps buyers to feel confident to bid to their maximum comfort level.
  • Minimize risk through the reserve price - sellers aren’t obligated to sell if the reserve price isn’t met.

Process

  • In collaboration with your real estate agent, we will work to sell your home. Below is a general timeline from start to finish:
  • Step 1: prepare home for sale and sign paperwork.
  • Step 2: list home on TheAuctions.ca and on MLS for maximum exposure. Market the home and facilitate showings for approximately one week.
  • Step 3: property goes to auction and sold to the highest bidder. Paperwork is finalized.
  • Step 4: follow up and prepare to move.

Criteria

Criteria

What makes a property a good candidate for an auction?

Here are some factors to consider:
  • Is the home in a high demand area that typically receives multiple offers?
  • Does the home appeal to a broad range of prospective buyers?
  • Does the seller have interest in exploring the auction method?
  • Does the seller have a tight timeline to sell?
  • Are the seller's price expectations in line with the market value?
  Note: not all of these factors have to be met to make a property auction-worthy