If you need a different approach to selling your home, an Effective Home Auction maybe the answer. There are basically three different types of Auctions.
Absolute Auction
An Absolute Auction has no reserves, so there is no minimum bid. This is a little riskier, but with the right marketing can be very effective. Absolute auctions usually generate more buzz, because buyers see the opportunity to get a house at a great deal. You and the buyer are guaranteed a sales contract that day regardless of price. The property will be sold to the highest bidder.
Minimum Bid Auction
This type of Auction is a less riskier than the Absolute, but the sellers must still entice the buyers to bid. The Minimum Bid Auction is set-up with a minimum price the sellers will accept. The minimum price is stated in all advertisements and announced at the auction prior to bidding. This type of auction may eliminate some buyers, but the buyers that do show know the lowest price possible that the house will sale for. Thus the sellers must have a price low enough to induce buyers participation at auction.
Reserve Auction
A Reserve Auction or Auction Subject to Confirmation is one of the safest for sellers. Basically the seller Reserves the right to accept or reject the highest offer within a specified time. The Sellers set a price for the property to be sold, but are not obligated to confirm the sale other than at a price that is acceptable to them. This may hinder some buyers from bidding, because even if they are the highest bidder, they are not guaranteed the purchase of the property.