When you here there is a Real Estate Auction, what is the first thing that comes to mind? "REAL LOW PRICES ON HOMES"

Well that is what we should be thinking but that does not seem to be the case according to a recent study.

Turns out that Mass Auction sales do not always make it to closing. The banks either turn down the bids or the buyers did not have the funds that they were presenting.

It seems like the strategy behind the auction is to get the potential home buyer to the home so that they can see and feel the actual home - sounds like an Open House to us Realtors.

Just remember if it sounds to good to be true, then be skeptical.

Hoping this helps with your home search.