|
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. |
surplus properties | free listings of government auctions | government crane auction | u.s. government property auctions | government motocycle auction | government auto auction chattanooga tennessee | government surplus generators | florida government auction | government auction property | mississippi government auction | canada government auctions | sauk county sheriff sale | ohio sheriff sale miami country | philadelphia sheriff sale | geauga county sheriff sale | sheriff foreclosure sale | york county sheriff sale | grayson county sheriff sale | illinois government auctions | lawrence county, pa sheriff sale | sheriff sale on house | sheriff sale westmoreland county | chester county sheriff sales | government surplus .org | government police auctions 2005 suv
|
Rare early Sedro-Woolley newspaper Skagit County Times, Sedro, May 2 ... He and King County sheriff Lewis ... Burlington on his way to the county...
Skagit County Times, May 2, 1896
RESOLUTION 7-2000 "DESIGNATING OFFICIAL NEWSPAPERS" (Central Record & The Burlington County Times) ... would soon lose his house at Sheriffs...
Medford Township MinutesJanuary 5,
Child Fingerprint Program 609-265-5785 Burlington County Sheriff's Community Services Unit
Human Services Directory
Local. Bucks County Courier Times. Burlington County Times. The Intelligencer ... Sheriff's sale of trouble nursing home goes on The...
Sheriff's sale of trouble nursing home goes on (phillyBurbs.com)
Local. Bucks County Courier Times. Burlington County Times. The Intelligencer ... on one building after forcing the Berks County sheriff's...
Reading outlets to be sold at sheriff's sale this week...
New Jersey Burlington County Times Newspaper. Arusha Times Newspaper ... Newspaper Archives Sheriff Sale Lafayette Louisiana...
Photoshop-stuff.com - Web Portal
At-Risk Registry Sheriff Home County Home ... are advertised for four (4 weeks every Thursday prior to the sale in the Burlington County Times.
Sheriff's Department - Real Estate Sales
Welcome to The Chaffee County Times - Local News, Sports and Entertainment for Everything Buena Vista ... abandonment by the Chicago, Burlington &...
Welcome to The Chaffee County Times - Local News, Sports and...
Editions of the North County Times Serving San Diego and Riverside Counties. Contact Us Archive ... from the same gun, Franklin County Sheriff's...
North County Times - North San Diego and Southwest Riverside County...
...county sheriff yellowstone county ... home of Calkins Newspapers, Inc., Bucks County Courier Times, Intelligencer Record, and Burlington County...
jowl.org - yellowstone county home school
|
