Five reasons to buy real estate at an auction

Purchasing real estate properties at an auction can be an exceptionally compelling option for those seeking to invest in property. This method of acquisition offers numerous advantages and opportunities that make it a highly appealing avenue for potential buyers. Here are five reasons to consider buying real estate at an auction:

Opportunity to set your own price: Participants can rapidly gauge the value of a property to set a price they are comfortable with, observing how potential rivals either join the competition or withdraw.

Efficiency and convenience: Auctions can be a quick and efficient way to buy property compared to traditional channels that require a realtor. A great number of real estate auctions are online and bidders can lounge at home while buying the property investment of their dreams.

Variety of properties: Auctions offer a wide range of properties, from residential homes, commercial real estate, land and more that provide options for different investment strategies.

No negotiations: Assessing a fair market value and engaging in negotiations with the seller’s agent before finalizing a contract can be a time-consuming and stressful process. With auctions, there is a transparent process and there’s no back-and-forth haggling or manipulative tactics to push the pricing.

Potential for profit: Buying property at an auction, renovating it, and reselling it can lead to a profit if you can add value to the property or the market conditions improve.

All farmland, residential acreage, and commercial properties to be sold by unreserved auction on October 24

Get ready for an opportunity to obtain agricultural land, residential plots, and commercial real estate through our unreserved auction. Ritchie Bros. Real Estate Ltd. has over 20 parcels available at our Canadian Real Estate event on October 24, providing you the chance to acquire valuable real estate without any minimum bids or reserve prices. Bidding in the timed auction will commence on October 24.

This real estate auction is suitable for a wide range of participants, including investors, developers, farmers, and those looking to become homeowners. Some noteworthy property listings include:

Oxbow, Saskatchewan

Located a brief distance from Oxbow, Saskatchewan, you’ll discover this fertile farmland, spanning approximately 400 arable acres. This property consists of three parcels, totaling around 476.1 acres, each parcel encompassing slightly over 158 acres. Prepare your plowing equipment for these contiguous one-quarter sections featuring nearly identical arable acreage.

Conklin, Alberta

This property in Conklin, AB, sits on approximately 3.31 acres with a shop fit for personal or business use and a move-in ready home. Built in 2013, the Regent Home Systems Custom Manufactured Home is 20 feet by 76 feet with five bedrooms and three bathrooms on concrete piles. The Goodon Industries post-framed shop is 38 feet by 39 feet with two 12 x 14 OH doors – one with a full-view glass panel at eye level. There are also drive-through bays with a washroom, two three-foot insulated steel walk-in doors, and six 40 x 36 inch dual-pane sliding windows.

Saskatoon, Saskatchewan

Situated in the heart of Riversdale in the city of Saskatoon is this 0.16-acre development site. With Riversdale being one of the original settlements of Saskatoon, history, and culture is abundant. With B5C zoning, the purpose is to recognize historic commercial areas which include a wide range of commercial uses in a medium to high-density form. The B5C District is intended to promote redevelopment which includes residential uses where appropriate. With over 50 permitted uses and many additional discretionary uses, numerous development options are available. Some of the permitted uses are hotels, restaurants, retail stores, personal services, medical buildings, and many more.

Nampa, Alberta

Located in the quaint village of Nampa AB located 20 min or 30 kms South of Peace River AB along a very busy Hwy 2, called the porthole to the Peace, a main hi-way to Northern Alberta from Edmonton. The Big Country Inn has 16 rooms including (1) king suite ,(2) queen suites, a lounge, liquor store, full kitchen, boardroom, laundry facility and opportunity for confectionery development or restaurant.

Turtleford, Saskatchewan

This charming bungalow is approximately 996 square feet with a partially developed basement and is ideally situated less than 2 kilometers from Turtleford, SK. In addition to four bedrooms and two bathrooms, the approximately 3.44-acre parcel includes a detached garage at 600 square feet and a shop that is approximately 2,000 square feet.

Don’t miss out on this event! For full list of properties and details visit Ritchie Bros. Real Estate and join our Facebook Event Page for updates and more.