Buying Land and Acreage at Auction

From residential real estate to commercial real estate and land and acreage, buyers and sellers alike are finding that auctions set the fair market price for real estate. In fact, real estate is the fastest growing auction category today. According to the National Auctioneers Association, more than $16 billion of residential real estate was sold by auction in 2006, an increase of 12.5% over the previous year. The gains are a continuation of what has been seen in previous years, even during the real-estate boom. The group said that $11.5 billion in residential real-estate was sold at auction in 2003; the segment saw a 39.2% increase between 2003 and 2006.

If you are considering buying or selling land at auction, a real estate professional or auctioneer can offer valuable advice. Auctionservices.com has created an Auction Community that is free and open to the public. Members include real estate professionals and auctioneers who can answer your questions.