


|
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. |
arizona surplus property | washington state surplus property | government surplus for sale | government surplus footwear | government surplus watches | seized real property auction | government surplus website | nebraska government tax auctions | confiscated material by us government | georgia government vehicle auction | westmoreland county sheriff sales | des moines county sheriff sales | procedure after sheriff sale | delaware sheriff sale | delaware county pennsylvania sheriff sales | escambia count sheriff land sale | delaware county pa sheriff sales | pickaway county sheriff sale | sandusky county sheriff and sales | miami county sheriff sale | miami county sheriff sale ohio | maryland sheriff sale | montgomery county sheriff sales | pennsylania sheriff sale | philadelphia forclosures sheriff sales
|
Seized, surplus, and foreclosed houses, cars, computers, furniture, jewelry, collectibles, and other merchandise from Government Auctions.
Government Auctions
A Nationwide list of Government Auctions with links to their Pages. Auction Dates and, inventories...
Government Auctions Federal Seized Directory
• County auctioning land online. • Government Auctions Offer Big Savings Featured Auctions Time Left...
Bid4Assets, Government Property Auctions, seized property bidding,...
Provides upcoming auction information, buyer tips, auction locations, and a subscription service program.
U.S. Department of the Treasury Auctions
Rantoul, IL. Frequently Asked Questions Please check out the Treasury Department's link to Other Government Auctions...
IRS Auction - Main Menu
...search this site.
U.S. Department of the Treasury Auctions
Government Auto Auctions - Buy a car at an auction today.
Government Auto and Car Auctions Buy a car at an auto auction today
Other Government Auctions. U.S. Army Corps of Engineers Homeowners Assistance Program (HAP) Property Mailing List Information...
U.S. Treasury - Seized Property Auctions
Insider's Guide to Federal Government Sales and Auctions ... Find out who to contact for these auctions! CUSTOMS: US Customs Offices seize millions...
Government auctions, giveaways, seized property seized vehicles, irs
Everything you need to know about government auctions, police auctions, DEA auctions, and other auctions.
Government Auctions. Police Auctions. DEA Auctions.
|