We have officially survived our first (and hopefully last) real estate auction. We were hoping for 300K, but we didn't quite make it. But we got enough to pay off everyone (including ourselves) and still have a nice little cushion sitting nice and safe in a money market account somewhere.
Three months of preparation, and it was all over in 15 minutes. Well, actually, the first ten minutes was the auctioneer going over how the auction was going to work, what was being auctioned, etc. The actual auction took five minutes.
I just wish we had thought of this before we bothered with a conventional real estate broker. We could have had this all taken care of before we left Michigan.
But better late than never.
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