Buying A Home At Auction

Jon Real Estate Leave a Comment

“Once upon a time, an auction was where folks might go to sell their grain, buy a steer, or pick up a new tractor. The events were not only an integral part of our economy, but also 100% Americana.

Today, our most prominent auctions are a little bit different. They take place in boutique hotel ballrooms, and the featured merchandise is not cotton- but condominiums. This Saturday, Accelerated Marketing Partners is auctioning off 20 “”ultra-sleek”” (their words, not mine) condominiums at Aqua, a midtown Atlanta high rise building located at W. Peachtree and Tenth Streets. Minimum bid prices start between 50%-60% below the original list price of these units, and judging from past Atlanta condominium auctions– someone’s going to get a deal.

For obvious reasons, buying a condominium at auction is not for everyone (cue pharmaceutical commercial voice-over). But for savvy investors and home buyers alike, auctions can provide a tremendous opportunity to scoop up a “”distressed asset”” (my words, not theirs) at a substantially reduced price.If you’re thinking about bidding on a unit at Aqua, click here. You’ll need to tour the property by tomorrow in order to make a bid on Saturday.

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Jon

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Jon Effron is widely regarded as one of the leading Realtors in Atlanta, working with both buyers and sellers throughout the metro area to maximize their real estate investments. In 2014, Jon was the #1 individual agent at Keller Williams Intown, one of the largest brokerages in Intown Atlanta. Prior to becoming a Realtor, Jon was the Vice President of Development at Tujay Group, an Atlanta real estate development firm. His career pre-real estate included stints at ABCNews.com, eGroups (now Yahoo! Groups) and Elite Traveler magazine, where he served as the Vice President of Marketing.