|
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. |
oregon surplus real property | government auctions in mississippi | government surplus cargo net | government car auction sydney | surplus government weapons | government surplus property | confiscated guns | free listing government auctions | government tax sales auctions | government auctions | government auctions online uk | surplus government equipment auction | british government auctions | government computer surplus | ohio government auction | uk government surplus auctions | north carolina surplus property | us government surplus sales | auction canada car government | government surplus electronics | u.s. government auctions | willie nelson seized property utah | dubois county sheriff sales | how do sheriff sales work | ohio law and sheriff sale
|
...online government auction Offers online government auction , government auction vehicle and canadian government auction...
Online Government Auction
...unlike canadian government auction becoming himself enough or within himself make becomes been i'm also whereafter via seem. online auction...
Canadian Government Auction
Canadian Auction Online - Government car auctions, police car auctions, private car auctions and bank repo vehicles offered. Cars for 90% off retail...
Canadian Auction Online - Canadian Auction Online, Government Seized...
Online Government Auctions. More Resources. Foreclosures & Foreclosure Property Listings. Recent Government Auction... UK Canadian...
Canadian Government Auction
Online government auction resources Home online gun auction online auction software online ... canadian online auction online...
Online government auction
Issues>Canada Online. Home. Essentials. Canadian ... for Canadian Women in Government It's hard to believe that it wasn't until 1918 that...
Canada Online - About Canadian Government - Services News and Issues
Online Government Auction Ebay Canada Get Online Government Auction Here! It’s great to be Canadian on eBay!
Ebay Canada and more Online Government Auction
Browser! online government auction Offers online government auction , government auction vehicle and canadian government auction... FirstGov.gov...
Online Government Auction
Snipe | Online Casino Business | Canadian Online Auction eBay Tools Home Online Government Auction Site Map Online Government Auction...
Online Government Auction at OnlineAuctionToolkit.com
Offers online government auction , government auction vehicle and canadian government auction...
online government auction
|
