Should I Auction My House?
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If you’re thinking about auctioning your house in Colorado, you’re not alone. More and more homeowners are turning to auctions as a faster, alternative way to sell their homes—especially when speed and simplicity are top priorities.
Selling a home at auction can help you avoid real estate agent fees and potentially close a deal quickly. But while this method can work well in some situations, it’s important to understand both the benefits and the risks before diving in.
Let’s explore the key do’s and don’ts of auctioning your home in Colorado, so you can make the best decision for your situation.
How to Prepare for a Home Auction in Colorado
DO: Choose the Right Auctioneer
Finding a reputable auctioneer is your first step. Colorado has many auction companies to choose from, so take your time researching. You can start with a referral, local listings, or the National Auctioneers Association website. Look for someone with experience in residential real estate and attend a few auctions in person if you can to see how they operate.
Be sure to ask about fees—some auctioneers charge as much as 10% of the final sale price. That’s money out of your pocket, so understand the costs upfront. You also have the option to run the auction yourself, though that requires more preparation and effort.
DO: Decide Between an Absolute or Reserve Auction
There are two main types of auctions:
- Absolute Auction: The house sells to the highest bidder, no matter the price.
- Reserve Auction: You set a minimum price, and if the bidding doesn’t reach that amount, the home doesn’t sell.
Each has its pros and cons. Absolute auctions often attract more bidders, which can drive up the final price through competitive offers. Reserve auctions give you more control, but if the reserve isn’t met, you may walk away with no sale. If your main goal is a fast sale, absolute might be the better fit.
DO: Be Upfront About the Property’s Condition
When listing your home for auction, disclose any known issues with the property. This includes structural problems, needed repairs, or anything else a buyer should know. Being transparent not only builds trust but can also protect you legally after the sale.
What to Avoid When Auctioning a Home
DON’T Expect a Bidding War
Auctions can be exciting, but not every one ends in a dramatic bidding frenzy. Set realistic expectations based on the market and your home’s condition. While some homes sell for more than expected, others may go for less—especially if your property needs work or is in a slower market.
DON’T Skip Other Selling Options Without Exploring Them First
Auctioning might not be your only path. Before committing to the auction route, consider selling your home directly to a local homebuyer.
A Simpler Alternative to Auctioning in Colorado
Before you auction your house in Colorado, why not see if a direct sale is a better fit?
At Red Crane Company, we specialize in buying homes across Colorado—no listings, no fees, no repairs needed. We buy houses in any condition and any area, whether they’re move-in ready or in need of major updates.
Here’s what we offer:
- Fast closings, sometimes in just 7 days
- No agent commissions or hidden fees
- A fair, no-obligation cash offer
Whether your house has a ton of equity or none at all, we can work with you. If you’re thinking about auctioning but want to see what you could get with a simple, stress-free sale, get in touch with us first. Why not find out how much your home is worth?
Call us at (303) 489-5128 or fill out the quick form below to get started.
So, Is Auctioning Your House in Colorado a Good Idea?
That depends on your goals. But if you’re looking for a faster, more certain path to selling your home—without the pressure of an auction—we’re here to help.
Submit your info today and find out what we can offer before you make your final decision.