Bidding Is Fun, But This Is Not A Game!

Buyers remorse is real: here’s how to prevent or cure it!

Bidding Is Fun But This Is Not a Game

Yes, auctions are exciting. The pace. The strategy. The adrenaline. The fast-talking auctioneer…. But despite all that energy, this isn’t a poker night with your buddies or the county fair… or disneyworld.

Bidding at an auction is entering into a legally binding agreement. You don’t get to call a mulligan because your spouse gave you the look or because you didn’t think you'd actually win.

If you bid—and win—you buy.

Second: Backing Out Hurts the Seller

Let’s be clear: when you back out after winning, you don’t just hurt yourself. You hurt the seller—real people who trusted the auction process to sell their home, land, or business assets. They counted on your commitment. Your second-guessing isn’t just a personal inconvenience—it's a setback to someone else's life plan. Professional auctioneers have serious consequences for buyers who fail to perform.

Third: Don’t Waste Our Time. Or Yours.

We give bidders every opportunity to inspect the property or item, read the terms, and ask questions. If you’re not ready, wait til the timing is right.

So How Do You Cure (or Prevent) Buyer’s Remorse?

Here’s how smart, prepared bidders avoid it—and how you can too:

1. Do Your Homework.

You’ll have access to property information, photos, terms, and inspection windows. If you bid blind, that’s on you. Know what you're buying before you try to own it.

2. Ask Questions.

Ask the auctioneer (that’s me) or the listing agent anything you want before the sale. The only dumb question is the one you don’t ask—right before you make a $500,000 mistake.

3. Know the Terms Cold.

Down payment, closing date, buyer’s premium, “as-is” condition—these aren’t fine print. They're the contract. Read it. Understand it.

4. Be Financially Ready.

If you’re planning to scramble for funds after winning, don’t bid. The time to figure out your money is before you raise your paddle—not after.

5. Sleep On It (if you can).

Auctions are often fast-paced, but if online bidding is open for a week, take that time. Think it through. If it still feels right after a night of sleep, you're probably ready.

Final Thought: Act Like You Belong

Buyers who take auctions seriously get serious results. They win properties. They close deals. And they earn respect in the market. Those who don’t? Well… they get politely blacklisted, earn a bad reputation, or worse—face legal consequences.

So if you’re coming to one of my auctions, come prepared. Bring your confidence, your due diligence, and your checkbook. please don’t let your biding exceed your checking either!

– Jay Cash, The Auctioneer