There are several factors to consider before auctioning a senior's home.
Factors to Consider:
1. Property Type & Condition: Unique or niche properties that might be hard to value can do well at auction. Conversely, homes in poor condition might attract property investors.
2. Market Conditions: In a seller's market, when demand exceeds supply, auctions can be highly successful. However, in a buyer's market, there might be less interest.
3. Location: In some areas, auctions are more common and accepted than in others. Research the popularity and success rates of auctions in your area.
4. Timing: There might be optimal times to hold an auction, such as weekends or certain times of the year, depending on local customs and market trends.
5. Marketing: Ensure that the auction is adequately marketed to attract a good number of potential bidders.
