Auction Acres Land Auction Frequently Asked Questions
Q: Should I visit and inspect the property before bidding?
A: Yes, you need to do all your due diligence prior to making your bid. It is recommended that you check with the county for information on the properties you are interested in. This includes zoning and different approved uses of the property.
Q: How do I register for the auction?
A: Registration only takes place on the day of the auction. You must register before you can place any bids on the parcels at auction. Registration is free and everyone is welcome to attend. You will receive your free land drawing tickets when you register.
Q: Who owns the land being sold at the auction?
A: AuctionAcres, and their related companies, have purchased all of the properties that are for sale at the auction. AuctionAcres.com is not a Realtor or a Broker. We own the parcels we're selling. Because you're purchasing directly from the seller, you lower your cost by cutting out the "middleman."
Q: Are there any prepayment penalties?
A: No, You may pay off the balance of the loan at any time. There are no prepayment fees or penalties involved with paying off your loan early.
Q: What if I am the winning bidder of a property and decide later that I don't want it?
A: All sales are final so make sure to do your due diligence before making any bids at auction. You may resell or refinance the property at any time, since there is no prepayment penalty.
Q: Where do the parcels come from that are sold at auction?
A: We purchase these properties from distress sales, estate sales, government auctions, trusts, foreclosures, and private parties.
Q: Do I need to qualify for a loan to take advantage of the financing option?
A: No, There is absolutely NO qualifying to use our financing. Everyone qualifies, and we do not check your credit. You simply pay the down payment and the monthly payments. For more financing information for the live auction click here. For financing information for the reverse auction click here.
Q: When will my first payment be due?
A: When you close your purchase with one of our Customer Service Representatives, you will be given a choice of days for your payment to be due on. Typically, your first payment will be due one month after the auction.
Q: Is there any sales tax on land that I purchase?
A: Required State/County/City transfer or excise tax are the only taxes that will be included with your purchase. This is usually a minimal amount.
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