Buying Real Estate at Auction

Buying real estate at auction can be a straightforward, transparent way to purchase property—if you understand how the process works. This page is designed to help buyers and their agents learn what to expect when bidding on homes, land, and other real estate with Grindstaff’s Auction Marketing Group LLC.

Why Buy Real Estate at Auction?

• Transparency: You see the bidding in real time and know exactly what other buyers are willing to pay.
• Defined Timeframe: Auction marketing creates a set date and time for buyers to act, rather than a long “wait and see” listing.
• Serious Sellers and Buyers: Auction terms are clear up front, so everyone knows the rules and expectations before bidding.

How Our Real Estate Auctions Work

Each real estate auction has its own detailed terms, but most follow this general structure:

1. Property Information: We publish photos, descriptions, disclosures, and documents on the auction listing page.
2. Open House / Preview: Buyers have one or more opportunities to inspect the property before bidding.
3. Registration and Approval: Buyers register online and acknowledge the Real Estate Terms and Conditions.
4. Bidding: Bidding takes place online during the published bidding period, often with a soft close to allow competitive bidding.
5. Contract and Deposit: At the close of the auction, the high bidder signs the purchase agreement and pays the required earnest money deposit.
6. Closing: The transaction closes on or before the date stated in the terms, subject to all normal title and closing procedures.

All contracts are signed electronically using DocuSign for the convenience of both buyers and sellers. Winning bidders will receive the purchase agreement immediately after the auction and are required to complete the signing process without delay.

The full details for each auction are always listed in that auction’s specific terms and property information.

Important Documents for Buyers

These resources explain the legal and procedural details of our real estate auctions. We strongly encourage buyers and their agents to review them carefully before bidding.

• Real Estate Terms and Conditions – The complete rules that govern bidding, deposits, closing timelines, contingencies, inspections, and buyer responsibilities for real estate auctions.
• Real Property Sales Agreement (Sample) – A sample copy of the purchase agreement used in our real estate auctions so you can see the contract language in advance.
• Agent Representation Form – For licensed real estate agents representing a buyer. This form documents agency relationships and outlines how cooperating broker compensation is handled.
• Buyer FAQ – Answers to common questions about bidding, deposits, previews, contracts, DocuSign, financing expectations, and closing procedures when buying real estate at auction.

Working With an Agent

We welcome licensed real estate agents and encourage buyers to work with a professional who understands their needs. Agents should carefully review the auction terms, attend open houses with their buyers when possible, and submit the Agent Representation Form so that agency and compensation are clearly documented.

Real Estate vs. Personal Property Terms

Real estate auctions have different requirements than our personal property auctions. For example, real estate purchases typically involve an earnest money deposit, a written contract, title work, and closing at a settlement company or attorney’s office.

If you are looking for information about bidding on personal property, equipment, or estate contents, please visit our Bidder Resources page and review the Online Bidder Terms & Conditions.

Questions About Buying at Auction?

If you have questions about a specific property, bidding requirements, or how the auction process works, we are happy to help. Please review the Real Estate Terms and Conditions first, then contact us if you need clarification. We want buyers to feel informed and confident before placing a bid.