How to Buy Land at Auction: A Step-by-Step Guide

Back to Your Roots

Step into the dynamic realm of land auctions where opportunities abound and strategies can mean the difference between winning and losing. In this engaging episode, we chat with Michael Harris, owner of Harris Real Estate and Auction, who shares his multi-generational expertise in navigating the auction landscape. With an impressive family legacy spanning over four generations, Michael brings invaluable insights into the auction process, emphasizing the importance of preparation for potential buyers and sellers alike.
Throughout our discussion, we unravel the intricacies of bidding, including the often misunderstood buyer's premium, equipping you with knowledge to enter the auction confidently. Michael gives essential tips for first-time bidders, encouraging them to seek guidance and understand what to expect on auction day—navigating bid strategies and property combinations efficiently. Furthermore, he clarifies the distinctions between absolute and reserve auctions, outlining when each method may be most beneficial.
As we dive deeper, Michael discusses current land price trends—from the impact of market dynamics to factors influencing buyer decisions. This is a must-listen for anyone considering land transactions, whether you are looking to buy or sell. Join us as we uncover the secrets of successful land auctions and learn how you can maximize your outcomes. Don’t forget to visit our website and subscribe to Back to Your Roots for more insights to keep you ahead in the agricultural sector!

Chapters

1. Introduction and Guest Welcome (00:00:00)

2. Michael Harris' Family Legacy in Auctioneering (00:10:00)

3. Understanding the Auction Process for Buyers (00:25:30)

4. Tips for First (00:42:00)

5. Absolute vs. Reserve Auctions Explained (00:59:45)

6. Future Trends and Land Valuation Insights (01:15:00)