How to Buy at Auction

An auction needs 2 buyers to be successful, we at Dustin C. Snyder Auctioneer LLC. strives to assist the buyers with any questions they may have on the auction process.

  1. Please call to schedule a private tour of one of our prime properties.
  2. After viewing one of our properties, please contact your bank or a bank listed on the Financing Tab, we work with numerous banks in help to secure financing for our properties. We have made it very easy with a link to become preapproved.
  3. Arrive on Auction Day and Bid!!!!

Bidding and Buying our Properties Online:

Buying Oil and Gas Rights and Properties Online. Please fill out the registration form, if you are the high bidder you will be required to wire, or send a check as a down payment the next business day, after bidding is completed and you are notified as a high bidder, approved by the seller.

Frequently asked Questions on buying at Auction below:

How much is the property worth?

A property is only worth what a buyer is willing to purchase a property for, and what a seller is willing to sell their property for…hence the selling price. Please take the time to ask us our evaluation and thoughts on the market value of a property we our selling. We sell thousand of acres of land, numerous homes and farms at auction. We can assist in helping determine the market value of a property you are interested in bidding on.

How do I know how much money to get preapproved for?

The bank you are working will be able to assist you with the approximate value of the property we are selling, in doing this they can guide you through the max bid you can make, give you estimated closing costs, and determine your qualifications. The below banks are familiar with the properties and values of the properties we sell, they have a strong understanding of the market price for our properties in our selling area.

Please click on the Financing Tab to become preapproved by a bank of your interest.

What is a buyer’s premium?

A buyer’s premium is sometimes used on selling of real estate. It is added on to the buyer’s price, for example, If you would pay $100,000, and there was a 3% buyers premium your total purchase price would be $103,000.  Please note, a majority of our auctions do not utilize a buyer’s premium. When utilizing a buyer’s premium it will be advertised under the terms and conditions of the sale. This would be paid as part of the purchase price, at the time of closing.

Down Payment Due on Sale Day?

The down payment is required the day of the auction unless bidding on the online platform, if your bid is the successful high bid on auction day, the down payment is required, and is held in our companies escrow account. At the time of closing we deliver the down payment to the closing company, and in turn they take this as part of the purchase price.

Is there a reserve or starting bid?

If under the terms and conditions state to be sold under owner immediate confirmation, meaning there is a reserve on the property then the property is being offered with a reserve. If the terms state absolute, then the property will be sold at any price. We may sometimes advertise a property with a starting bid, if we do so then the property will be sold at that price or higher. Each auction falls under separate terms and conditions, please read the terms and conditions of the property you may be interested in.

Are there any risks?

We prepare a complete bidders packet, provide a sellers disclosure, and as much pertinent information as possible. We guarantee a clean clear title to the property or your down payment  is refunded in full, buying at auction is very easy, please let us know if you have any questions or concerns.

Who handles the closing?

We work with your attorney or abstract company, if you are new to the real estate buying process we can recommend one for you, we prepare all documents for the closing company, and guide buyer and seller through the process until closing. We advertise and set normally a 45-60 closing window from the day of the auction. As any successful auction firm, we want you to be comfortable with the buying process.