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Is Auctioning Your House A Good Idea in Montréal?
Selling your Montreal home at auction can be a good option if you follow the steps outlined below…

Selling your home at auction in Montreal is a growing practice across America, as it offers the opportunity to sell your home quickly, without paying real estate agent fees and often at a profit.

However, as with all things, there can be drawbacks to selling your home at auction rather than through the traditional real estate sales process with an agent or real estate investment company like Solution Capital.

In this article, I outline some of the do’s and don’ts of auctioning your home in and around Montreal and address the question, “Is auctioning your home a good idea in Montreal, Quebec?”

Is auctioning your home a good idea in Montreal?

If you’re thinking of auctioning off your Montreal home, keep in mind that you’ll need to make several preparations before the auction begins.

Things to do

  • To sell your home at auction, you must first find an auctioneer in Montreal. There are many auction companies today, so do your research before choosing one to represent your home. You can start with your local phone book, a reference or visit the website of the
    National Auctioneers Association (USA)
    and do a quick search for auctioneers
    here (link)
    in our region of Quebec. Look for those with a lot of experience and even try to attend an auction or two, just to get an idea of how they handle things. Make sure you know the fees they charge for their services, as they can sometimes be quite high. In some cases, they can take up to ten percent of the cost of the house, which considerably reduces the amount of profit you’ll receive… which is sometimes much less. From there, if you don’t want to hire an auctioneer… you can always do it yourself. A good auctioneer can really help drive up the price of a house with his skills… but you can organize the auction yourself as long as you’re clear about the auction rules with the bidders, i.e. the starting bid price, whether they need to have money and a deposit at the auction, etc.
  • Decide which type of auction you’d like to organize – Absolute or Reserve? Once you feel you’ve selected the Montreal home auction company that’s right for you, decide which type of auction you’d like it to be-absolute or reserve. In absolute auctions, there is no minimum limit to how much your home must earn to be sold. This means that whatever the highest bid is, that’s what you’re going to get. Auctions with reserve are those with a minimum limit, and if they don’t reach this limit, they are not sold.

Although the choice between the two seems obvious at first glance, don’t assume that reserve bids are necessarily better. Sometimes, if bidders aren’t willing to meet the limit, the house will never sell and you’ll be stuck with a house you don’t want. What’s more, auctions that are “unreserved” (or absolute) tend to attract more potential bidders to the auction looking for a good deal… and if one of them ends up in the frenzied bidding… it could mean the difference between selling the house that day and not selling it.

Think carefully about your decision and try to decide what you want more. If you want to sell your home in Montreal as quickly as possible, then an absolute auction is the fastest option. If not, perhaps a reserve auction would better suit your needs. 

  • Do not omit any defects concerning the house in your auction description. A very important step in selling your home at auction here in Montreal is to list all the problems encountered by your property. Don’t overlook any defects concerning your home, because if you do, buyers have the right to sue you for defects you didn’t list before the auction.

Well…

  • Don’t go into an auction with fantasies of a bidding war breaking out, leaving you with a huge profit. Set a realistic price you expect to earn and don’t be too disappointed if your home sells for less than you think it’s worth. You may have an emotional attachment to the house that people who bid don’t have. Auctioning your Montreal home may bring in less money than an estate sale, but it’s relatively quick and can spare you the grief and stress of the more traditional approach.

But why are you considering auctioning off your Montreal home?

You landed on this article for a reason… the auction of your house crossed your mind.

It can help you sell your home faster… so why not give it a try?

Before choosing to auction off your local home… try another option first.

Our company, Solution Capital, buys homes in the Greater Montreal, Ottawa and Quebec City areas. We’re not looking to turn your home into a

Sell House fast, 60 days notice, financial recovery
By selling your home with us, you’ll have the chance to move quickly and hassle-free.

sale… we’re looking to buy it.

We buy houses…

  • In any condition
  • In any part of the city and even elsewhere in Quebec
  • Ugly, beautiful houses in good condition, in great need of renovation
  • Houses with a lot of equity or very little or no equity

We’ll pay a reasonable price, we can close quickly (in just 7 days) and you won’t have to repair anything in the house.

If you would like to know what we can pay for your home BEFORE you decide to sell it at auction … contact us.

You can call us at any time on
[téléphone]
or simply click on the link below and fill in the form on the next page to start the process.

So, is auctioning your home a good idea in Montreal? It’s up to you to decide. But if you’d like to see if working with us makes more sense before you jump into the world of “bidding”… submit your information below to get started today!

Get a cash offer on your Montreal area home here >>

Here’s another great read we found while writing this article on other tips and questions you should ask yourself before selling your home at auction.

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