How do real estate auctions work?

Real estate auctions work in a few different ways depending on jurisdiction and auction format. If you're thinking about selling your home or buying a property at auction, it's important to understand the specific details.

Some auctions are conducted by private companies, such as OfferMarket, while auctions can also be conducted by local governments. Some auctions have a reserve price, while other auctions do not have a reserve price. Most auction services charge a buyer's premium, which is a fee charged to the winning buyer on top of their winning bid.

OfferMarket Real Estate Auctions

Learn more about OfferMarket's real estate auction service and how we help sellers and buyers save money.