Tennessee Land Auctions: How To Win Your Dream Property

If you’re looking to buy land in Tennessee, a land auction could be the way to do it. 

Compared to traditional real estate sales, land auctions tend to come with more bargain properties and less buyer competition. An auction can also be a great opportunity to find unique Tennessee properties that aren’t available through standard means, including raw land and foreclosures. 

So how do you make the most of a Tennessee land auction? Check out our guide below, and get expert insight on what to do before, during, and after an auction to increase your chances of scoring a great deal on Tennessee land.

Understanding Tennessee Land Auctions

The land of Tennessee is vast and varied. Across the state’s more than 42 million acres are expansive properties for residential and commercial development, plus rural plots that are ideal for agriculture, livestock, timber, recreation, and other creative uses. And you can find much of this land for sale through a land auction.

Depending on the type of auction, you can bid on Tennessee properties in person or online, with a chance to compete in real time against other interested buyers. If you place the highest bid, you’ll usually be required to put down a good-faith deposit on the day of the auction, after which you’ll go through closing just like you would for any piece of land. 

All in all, it’s a simple process. However, if you want to increase your chances of success, you’ll need to go in with a plan – including a good idea of what you want and can spend to get it. 

Preparing for a Land Auction in Tennessee

When it comes to buying land via auction, what you do prior to the auction is just as important as what you do once you’re there. 

Research Properties

You can find Tennessee auction land for sale in a number of places, including listing sites like LandHub, newspapers, and auction house websites. Research what’s available before heading to the auction, including acreage, zoning and land use potential, and access points (or lack thereof). This way, you can keep your eye on the prize and direct your funds and attention toward the right property. 

Get Your Finances Ready

Since most auctions only take cash and don’t allow owner-financing, it’s essential you have your budget and finances locked in ahead of time. Always ask the auction house for information on additional fees and how much is required for a deposit so you have all your ducks in a row and can complete the transaction after winning.

Familiarize Yourself with Auction Terminology

There are a few terms you’ll come across time and again at land auctions in Tennessee, and it’s good to learn them ahead of time. This includes minimum bid (the lowest amount a property can be sold for), reserve auction (seller has the right to reject bids), and absolute auction (seller must accept the highest bid, regardless of what it is). 

Strategies for Successful Bidding

You’ve done your research and set your budget. The goal now is to come up with a bidding strategy that helps you seal the deal on the property you like best. 

• Read the room: Pay close attention to other bidders, and try to get a feel for their spending limits and the types of properties they’re going for. 
• Take it slow: Start low and raise your bid gradually, rather than coming in high off the bat. 
• Study the process: If possible, attend a “practice” auction to see how it all works and get rid of any pre-auction jitters. 
• Set a maximum bid: Knowing your limit will keep you confident while bidding – and keep you within budget. 

Common Bidding Mistakes to Avoid at a Tennessee Land Auction

There are three things you should avoid doing at a Tennessee land auction: (1) overbidding on properties, (2) failing to do adequate research, and (3) ignoring hidden costs associated with land auctions (for example, auction house fees, which may be as much as 10% of the purchase price). 

Avoiding these missteps will go a long way toward your success at auction, especially if you’re buying land in Tennessee on a strict budget.

What to Do After the Auction

You’ve named your price and won. Now what?

After a Tennessee land auction is wrapped up, winning bidders will finalize their purchase with a contract and deposit. Then it’s time for closing, which, as is typical of land deals, tends to take between 30 and 60 days. During this time, things like property transfer and registration will be handled, and on the closing day, you’ll owe the remainder of the purchase price (via cash or loan) as well as any taxes, fees, and commissions. 

This period is a good time to start getting the ball rolling in terms of land improvements and future plans. While you can’t make any changes to the property before taking ownership, you can start to arrange for things like surveying, soil testing, architectural drawings, or anything else related to your new plot of land. 

Ready to Buy Land in Tennessee?

If the land in Tennessee is calling your name, it’s definitely worth considering buying through auction. Not only can you save money, but you might end up finding a hidden gem in the Volunteer State. Just be sure to do plenty of research ahead of time so you know what you’re getting into. 



Head to our Tennessee land page to start your search, and filter by “auction properties” to see what’s currently available.