Condominium auction in Raleigh coming up

According to the Triangle Business Journal, an auction of condominiums and townhouses in Raleigh is scheduled to take place at noon on May 19, 2012.The event will be held at the Raleigh Marriott Crabtree Valley Hotel at 4500 Marriott Drive. This may be a good opportunity for anyone hoping to invest in real estate in Raleigh-Durham.

Homes that will be sold at the auction are part of a community called Ramblewood at North Hills. Starting bids on two-bedroom Ramblewood units will be from $100,000 and were previously priced up to $600,000. Homebuyers and sellers might benefit by attending this event - and ones like it - as they could evaluate the current value of properties in the area.

Real estate auctions can be beneficial to buyers, as competitive bidding typically results in property being purchased at fair market value. It can also eliminate long negotiation periods and allow a buyer to see the sale prices of other homes in the vicinity. Auctions are also helpful for sellers - they do not have to take part in the negotiation process and are assured that the property will be sold at market value.

People looking to buy or sell property in the Raleigh-Durham area may want to consult a real estate agency to find out if there are other auctions in the area and if this method for real estate transactions would be in their best interest.