Anyone ever sell a non-distressed home via auction?

So, I'm selling a home and not having much luck. Of course your first thought is the price and that it may be too high but out of 10 for sale in the neighborhood, mine is listed as 2nd lowest for price per square foot. Agent told me houses simply aren't going right now in our area which isn't really her or my fault at all.

So, she mentions to me her company does auctions so I talked to the auctioner/agent today. He told me he only auctions non-distressed properties and has auctioned off two thus far with those properties being sold PRIOR to the auction. The benefit to the seller is that I pay only $1,000 for the listing/advertising fee but I pay NO closing costs.

House would be sold as is and auction would take place in 30 days with closing taking place within 30 days of sale. He told me most of the time it's investment companies that purchase homes at auctions. Participants must register prior to the auction so he knows exactly who will be there and bidding on my house. All houses must have a reserve and if that reserve isn't met but close, he will call me and ask if I'll accept.

Anyone ever auction off their home? He told me an auction is really for a person looking to move their house and for a person that doesn't have the time to sit and wait for it to sell the conventional way which is my situation.

Thoughts?

I assume you are unable to put a reserve in place to protect you on the lowside?

Suggest that to them, with the idea they STILL collect their 1k if it doesn't sell.

boatboatboat said:

I assume you are unable to put a reserve in place to protect you on the lowside?

Suggest that to them, with the idea they STILL collect their 1k if it doesn't sell.

Click to expand...

No BBB, he requires a reserve from me. And if it doesn't sell at a decent price during the first auction, he told me he'd work with me to hold subsequent auctions at a very low price to advertise.