Do your homework and avoid real estate auction fever

Rick Levin & Associates has an auction of auction of bank-owned residential properties scheduled for Saturday, September 17, at the Hilton Rosemont, and I’ll bring you info on that in a separate video in this sponsored series.

In the meantime, since Rick Levin is a 20-year veteran of the auction process and a member of the small group of real estate auctioneers who do business on a national scale, I asked him to take a minute and offer some advice to bidders – many of whom are first-timers – on how they can avoid auction mistakes.

The first tip: “you don’t want to get caught up too much in auction fever.” The second: “do your homework.” Take advantage, Rick suggests, of the wealth of information that’s available to prospective bidders through the auctioneer’s due diligence efforts.

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