|
Real estate auction action - Buying a home at auction
Author: Jakob Jelling
Due in part to the popularity of the U. S. Department of Housing
and Urban Development (HUD)'s home auction program, more
potential homebuyers than ever are buying homes at auction.
Homes for auction aren't limited to just HUD, however. Many
government entities auction homes for payment of back taxes, and
some homeowners even auction their homes on eBay.com!
Homebuyers considering buying a home at auction should take some
steps in advance to help them with their bid price, and even
whether to bid at all on a specific home. There will always be a
degree of risk when buying a home this way, but with a little
diligence, potential homebuyers could save a lot of money buying
in this manner.
Before the auction, you should have your financing arranged, and
have enough cash on hand or in your bank account to cover a
deposit on your purchase. You need to check the features,
location, condition, and ownership history first. Afterwards, be
sure to learn what the property is worth by looking at sales of
comparable properties in the same area. Compare homes with the
same number of rooms is possible, but be sure to allow for price
differences due to pools, decks, carpeting, window treatments,
etc.
At the auction itself, resist the temptation to get into a
personal bidding war, just "to beat out the other guy". Have a
set price limit and stick to it. Other houses will come along,
and you don't have to win the first auction that comes your way.
You should know that the price of a home at auction is typically
the loan balance (if foreclosed), plus any back taxes owed, plus
legal fees and other expenses in foreclosing the property. This
will typically be the opening bid amount, and the price will go
up from there. Even so, it's possible to get a great deal in an
auctioned house, with a little research and planning first.
Also, know that you probably won't be able to get an inspection,
and are buying the home "as is". If you can't do any needed
repair work yourself, or can't hire it done within your budget,
you may not end up getting such a bargain in the end.
About the author:
Jakob Jelling is the founder of http://www.cashbazar.com. Visit
his website for the latest on personal finance, debt
elimination, budgeting, credit cards and real estate. |
propety tax sales government | bibb county government auctions | fl government auction | government auctions maine | government online home auctions | government auctions in north carolina | government auction free | government auction car australia | goverment seized properties | government auction in new jersey | government auctions boats | auction government site web | auction boat government | piper aztec c government auctions | government marine vessel auctions | minnesota state surplus property discussion | ca gov surplus property | government auctions car adelaide | locate seized property smyrna tn | government surplus lab equipment | government reposessed auctions | government auctions ohio | government sales account report | gold confiscated from iraq | auction canada government in land
|
Retails British Ministry of Defense surplus, including catering equipment, electronics and test equipment, office furniture, workshop and engineering...
Ramco UK - Government and Army Surplus Goods
British (UK) Fiscal & Tax Data ... Deficit/Surplus GeoInvestor Tax Facts U ... Government Securities Auctions & Results External Debt Data:...
UK FISCAL DATA: British Government Budget Statistics, British Taxes,...
Government Surplus Auctions. The most comprehensive guide to getting a great deal from the government. ... Car Auctions - British Car Auctions...
►Government Surplus Auctions
British Government Auctions Telecoms Licences Date: 10/11/2000. British Government Auctions Telecoms Licences. Government Surplus Military Vehicle...
Canada - Government Auctions
Militaria: On-Line Auctions ... for private owners/collectors, for the buying and selling of relevent WW2 British/Canadian GOOD STUFF - uniforms...
Militaria
Portal to web resources on military vehicles, military surplus, militaria, books, photos, history and military and veterans organizations. How to buy...
British Lubrication Information
Parker-Braden Auctions ... Lithgow (British) Model Mark III Cal. 303; Mannicher-Carcano (Italy) Model 1941 Cal 6.5; England Model 1943 Cal.303;
Table Pictures
Government SUrplus Sales - Used Car Auction - Online Car Auctions - Boat Auctions - Salvage Auto Auctions - Japanese Car Auctions - British...
►US Government Surplus AUctions
Government Surplus and Seized Electronics Auctions (PR Web via Yahoo! News) ... British music industry reveals best-ever year for album sales (AFP...
osCommerce Experts - Government Surplus and Seized Electronics...
Government Surplus Asset Sales, such as cash and carry or liquidation sales or auctions and warehousing services are provided by the AIR Branch.
Asset Investment Recovery
|
