Pros and Cons of Selling a House by Auction

So, we reduced the asking price another $15,000 a few weeks ago, hoping this would bring in more interested buyers. No dice. We did get another showing, and we lost out to a house (same exact price) with broken windowpanes, windows painted shut, no backyard, on a main artery, and an ugly interior in desperate need of updating. Why? It is considerably bigger (800 square feet bigger) and has a fifth bedroom. That's what the buyers ultimately wanted. A big, ugly house instead of a slightly smaller, well-maintained home with a nice backyard. And that, my friends, is what broke the straw on the camel's back.

My husband and I are seriously considering putting our house up for auction if we want to unload it before the end of the year. I made an appointment with two different auctioneers yesterday, one of whom I met today. I meet with the other one Thursday morning.

After looking around the house, auctioneer/RE agent #1 recommended a reserve price quite a bit lower than I expected. If our house sold at this price (and there is no guarantee that it will, especially in this market), we would have to bring $10,000 to closing. That truly sucks.

We'd still have 20% down for a house in our price range, thank goodness, but still. I wasn't prepared for that number. Plus, the guy was kind of an ass. He was just like, you know, your house could still not sell for 150K, especially since you haven't gotten any lowball offers. What the hell is that supposed to mean? One minute he' s telling me how beautiful the house is, and the next minute he' s telling me it's not even good enough for a lowballer? What-effing-ever. Him and his smarmy face, pinky ring, and crisp-looking chinos. Bite my butt.