Buying Real Estate at Auction

Determine your budget

Decide what you want

Register with CRS

Check out the Property

Participate in the Auction

Pay the Deposit

Pay the Balance

Close the property

Tell a friend

Determine Your Budget

Affordability

The first step in buying a property is deciding how much you can afford to spend based on your savings or mortgage.

Proof

If taking a mortgage, visit your financial institution to get a pre-qualification letter

Deposit

Decide how much you can deposit. This may range from 5% – 20% of the sale price of the property

Decide What You Want

Type

Do you want to live in a single family home or a complex? You will need to decide what types of properties you are open to purchasing.

Size

How many bedrooms and bathrooms do you need? How much space do you really need?

Location

Where do you want to live? Decide on the Parish, and possible communities.

Reality Check!

Be honest with yourself. Balance what you want, with what you need and can afford.

Register with CRS

Register

Complete the CRS Client Registration Form

Documents

Upload the required documents

Subscribe

Subscribe to receive notifications of upcoming auctions

Browse

When an auction goes live, review the available properties. Could any meet your needs?

Check out the Property

Visit

Visit the location to view the exterior of the property. Unlike open market purchases, you typically do not have access to see the inside of auctioned properties, as they may be occupied.

Explore

Familiarize yourself with the community. Understand what ammenities are available, and the culture of the neighbourhood.

Research

Do your research to determine the value of similar properties. Your CRS Agent will guide you.

Participate in the Auction

Law

Read the conditions of sale. It outlines the rules of the auctions, terms, your eligibility to bid, and the time to complete the purchase.

Bid

Bid on the property that meets your needs and budget.

Notification

Check your email and other alerts to know if the auction is closing, or if you have been outbid.

Successful Bidders

Deposit

The deposit is typically due within 72 hours of winning the auction. Make sure the funds are available.

Balance

Pay the balance within the agreed timeframe. This may be financed through your savings or a mortgage.

Close

Complete the legal requirements to transfer the title. Your CRS Agent and partners will guide you.

Tell a Friend

Tell a Friend