How To Buy Tennessee Luxury Real Estate At Auction

May 21, 2015

tennessee luxury real estateIf you’re in the market for Tennessee luxury real estate, buying at auction can be a great way to ensure you’re getting a true, market-driven price. Auctions, especially luxury absolute no reserve real estate auctions, are very different from traditional home sales, so if you’ve never bought property this way, the process might at first seem intimidating. However, luxury real estate auctions can actually be a much simpler, transparent and quicker way to buy. Just take the following steps for the best experience possible.

Step 1: Locate a Great Property

Finding the right Tennessee luxury real estate property for you and your family can be tough. After all, the luxury market is much smaller than the greater housing market. That doesn’t mean you should settle for anything less than the perfect estate, though. Take Pickney Manor, for example. This elegant French Chateau was created by architect Mitchell Barnett. Interior designer Kathryn Broadwater created finishing touches with faux European painting, Venetian plastered columns, and all the furnishings (which are also available, by a separate bill of sale).

Step 2: Do Your Homework

Once you’ve found a luxury auction property that piques your interest, it’s important to make sure you know all of the details about the property. Does it have enough bedrooms? Enough acreage? Enough privacy? What makes this property stand out from others on the market?

Supreme Auctions provides an overview of each of the properties available on their website. Also provided is a Property Information Packet that includes further details like maps, zoning information, seller disclosure, floor plans, inspection, etc. To obtain your packet, call Supreme Auctions directly at 866-929-2243. When you do, make sure you ask about when and how you can visit and view the property of interest in person. Previews and open houses for the properties are available, and you can also schedule a private visit. It is also recommended that you become familiar with the neighborhood during your visit.

Step 3: Get Your Finances Lined Up

One of the main differences between buying Tennessee luxury real estate at absolute no reserve auction and buying traditionally, is how quickly the transaction can go through. Supreme Auctions properties are sold with no contingencies, so if bidders require financing, line it up in advance, unless paying cash. If you’ve completed your research and fallen in love with one of the properties, then it’s up to you to make sure you are ready to take ownership within 30 days if you are the lucky and successful high bidder at the auction.

Step 4: Auction Day

Auction day is held at the property in question. It is recommended that you arrive at the estate at least 45 minutes before the scheduled auction time so you have plenty of time to complete your bidder registration if you haven’t done so already, collect your Bidder Packet, and take one last tour of the property. This is also a great time to ask any remaining questions you may have.

If you are the highest bidder, the estate is yours, no matter what the final price! Supreme Auctions and real estate professionals will help you complete all the necessary paperwork and answer any questions you have about the closing process, which will be scheduled within 30 days. After a smooth transaction, you’ll get the keys to your new property.

To learn more about the luxury absolute no reserve auction of Pickney Manor on May 28th, 2015, or any other Tennessee luxury real estate offered by Supreme Auctions, call 866-929-2243 or send your questions via email.

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