03 / Auction
You pick the date. The market sets the number.
Competitive bidding in the open. Terms published before the first bid. A contract signed the same day.
How it works
Five steps from consult to close.
01
The consult
Is auction right for this property. Some properties fit, some do not, and you get the honest answer either way before anyone signs anything.
02
Terms set
Reserve, buyer premium, deposit, closing window. Every term gets set with you and published, so each bidder plays by the same rules you approved.
03
The marketing window
Typically four to six weeks of exposure with a hard date attached. A deadline concentrates attention in a way an open-ended listing cannot.
04
Auction day
Competitive open bidding with a licensed auctioneer at the podium. Bidders respond to each other, and the price moves in the open.
05
The close
The contract is signed the same day. Closing typically follows in thirty to forty-five days, with no financing contingency.
Who it fits
Where an auction beats a listing.
01
Estates and probate sales
When an estate needs a documented public sale on a firm timeline, an auction produces one. The record shows exactly how the price was reached.
02
Farmland and acreage
Tillable ground, woodlots, and multi-parcel offerings. Bidders can compete on the pieces and on the whole, and the strongest combination wins.
03
Unique properties without comps
Some properties have no honest comparable sale. Rather than guess at a list price, let qualified bidders establish the value in the open.
04
A certain date over an uncertain number
A traditional listing chases a target price on an open-ended timeline. An auction reverses it: the date is fixed, and the market sets the number.
The glossary
The terms, in plain English.
Auction terms are public by design. If a term is not clear, ask. You get a straight answer before you commit to anything.
- Buyer premium
- A percentage added to the high bid to form the contract price. It is disclosed up front, in the advertising and in the terms, so every bidder knows the math before the first bid.
- Reserve
- The confidential minimum the seller will accept.
- Absolute auction
- No reserve. The property sells to the high bidder.
- Earnest deposit
- Funds due from the winning bidder on auction day. The amount is stated in the published terms before bidding opens.
- As-is
- The property sells on inspection done beforehand, not after. Bidders do their homework before the gavel, and the contract carries no inspection contingency.
The calendar
Upcoming auctions.
No public auctions on the calendar right now.
The next date on this calendar could be yours. Use the form below and the broker will tell you straight whether your property fits.
Auction questions
Asked before every sale bill goes up.
01How does a real estate auction work in Ohio?
The property is marketed for a set window, usually four to six weeks, with a public auction date. Terms are published up front: deposit, buyer premium, closing window, and whether a reserve applies. On auction day, open competitive bidding sets the price, the winning bidder signs the contract that day, and closing typically follows within thirty to forty-five days.
02What is a buyer premium?
A percentage added to the high bid to form the final contract price. It is disclosed in the published terms before anyone bids, so every bidder knows exactly how the final number gets calculated.
03Are auction properties distressed?
No. An auction here is a pricing method, not a condition report. Estates, farmland, and unique properties without solid comparables often go to auction precisely because open bidding finds their value better than a guessed list price.
04Can I inspect the property before bidding?
Yes. Inspection happens before the auction through open houses and inspection periods listed in the terms. Auction properties sell as-is, which means diligence happens up front, not after the contract is signed.
05What does a reserve mean?
The confidential minimum the seller will accept. If bidding reaches it, the property sells. An absolute auction has no reserve, and the high bid wins regardless. The published terms always state which type applies.
06Can I use a mortgage to buy a property at auction?
Often yes, with preparation. Auction contracts carry no financing contingency, so the risk of a loan falling through sits with the buyer. Bidders who want to finance get pre-approved before auction day and confirm their lender can close within the published window. Cash and financing bid on equal footing; the contract just does not wait on either.
07How do I register to bid?
Registration requirements are listed in each auction's published terms: typically identification, acknowledgment of the terms, and proof of funds or lender pre-approval for the deposit. Contact the office before auction day and registration takes minutes.
08What happens if bidding does not reach the reserve?
The seller decides on sale day: accept the high bid anyway, counter the high bidder, or pass the property. A strong marketing window usually surfaces the real market number either way, which is information the seller keeps regardless of the outcome.
Bid math
High bid$150,000
Buyer premium (10%)$15,000
Contract price$165,000
Every auction publishes its own premium, deposit, and closing window in the terms before bidding opens. This calculator is orientation; the published terms control.
The credential
The broker calls the sale.
Plenty of brokerages refer auctions out. Here, the license behind the listing and the license behind the podium belong to the same person. One point of accountability from consult to close.
Licensed auctioneer since
2005
Start
Tell us about the property. You get an honest read on whether auction fits, and the numbers behind the answer.