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For Buyers

Advantages of Real Estate Auctions

Assurance of a clean title at closing, with no liens or back taxes.

Buyers have the ability to name your price; you can bid at whatever level you wish.  Even if you see a published minimum bid that is higher than your price, we strongly encourage you to come to the auction and bid.  For sellers, cash in hand is often greater than a price in the future.

Openness and clarity in negotiations.  You will only have to pay the top competitive bid between you and other bidders.  The open marketplace created by a real estate auction ensures the price you pay is the true value of the property.

Speed!  If you are the highest bidder you will almost always know immediately if you have been able to purchase the property.  In the traditional real estate market, negotiations can drag out for weeks or months.

 General Information

Kraft Auction Services will set up open houses by appointment for any property sold at real estate auction.  All properties are sold “as is, where as”.  This means there are no guarantees on the property and it is your responsibility to inspect it before purchase.  At the sale, real estate buyers must register with their driver’s license and fill out a separate form for the real estate auction if there is a personal property auction occurring in conjunction.  Please indicate you are interesting in purchasing the real estate when you register. A buyer’s premium of 10% will be charged on top of the top bid.  The top bidder is expected to produce a non-refundable down payment with cash or check of $2,500, $5,000, or more depending on value of the property and close within 30 days of the auction.  These are general terms, so please check the Upcoming Auctions (link to Upcoming Auctions) for the exact terms for each sale.  Please feel free to contact us at by email (link to contact us) or phone at 219-973-9240 if you have any questions, would like more information about a particular property or to set up an open house appointment.

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