Are you looking for luxury Houston real estate? Whether you’re a first-time home buyer or a seasoned flipper, buying luxury real estate at auction may feel like treading in un-chartered territory. So what are the benefits and drawbacks of each?
Buying Traditionally
Most buyers are more familiar with the traditional buying process. Even though it’s a long, roller-coaster ride of a process, it works fairly well for most real estate. This is because buyers don’t have to finance the transaction until the home is in Escrow and all paperwork is complete.
Unfortunately, selling traditionally in the luxury real estate market, especially with homes above the $2 to $5 million mark is not so easy, and the pool of buyers who can afford them is considerably smaller, too. This means that many luxury homes linger on the market or and become listed at over the market value. It also means that bringing the right buyer and seller together can be a challenge.
Luxury Real Estate Auctions
Where the traditional process falls short, a luxury absolute no reserve auction excels. To begin with, the process is much shorter as most auction sales close within 30 days.
Quick closing is possible because the homeowners are serious about selling. After all, you don’t hold an auction with no minimum bid if you’re not serious. Plus, the buyers know they are getting a fair market price for the estate, as they create the market in the bidding process.
On the other hand, closing quickly depends on having your financing lined up on the day of the auction, which may be the only downside of buying at auction. Fortunately, this is not a problem for most luxury buyers.
You now have some valuable knowledge to use if you are in the market for luxury Houston real estate as you have the opportunity to buy an amazing home on June 25th, 2015 at a hassle-free, luxury absolute no reserve auction.
Sleepy Oaks Chateau is an exquisite mansion with a European-inspired, old world feel. It was designed to be both a warm home to raise a family in and an incredible estate for entertaining. It features an awe-inspiring two-story entryway, custom stained-glass dome, and a perfectly landscaped garden complete with arboretum, pool and summer kitchen with a wood-burning pizza oven. If you’re interested in this incredible opportunity to buy luxury Houston real estate at a no reserve absolute auction, organize your finances and contact Supreme Auctions at 866-929-2243 today.
