|
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. |
nc state property surplus auction | auction australia car government | surplus postal properties | texas seized property | surplus government land | nail scissors + confiscated | tennessee government auctions | marion county ohio sheriff sales | lake county sheriff sale | government auctions announcement | government surplus parachute | federal auctions in new jersey | auctions federal | police seized property auction | police seized property auctions | galveston county sheriff sale | government military surplus auctions | burlington county sheriff sale | erie sheriff sale homes | ashtabula county sheriff sale | nj sheriff sale | pa sheriff sales pictures | free site sheriff sales | list of government auctions | summit county sheriff property sales
|
Hendricks County Sheriff's Sale ... PLAITIFF'S ATTORNEY: Feiwell and Hannoy, P.C. DEFENDANT (S) : Hamilton, Christopher l. JUDGMENT AMOUNT: $138...
Hendricks County Sheriff's Sale
Sheriff's Land Sale List DANIEL C. McCLELLAND, GEAUGA COUNTY SHERIFF 100 SHORT COURT STREET ... EDWARD HAMILTON II ET AL WITHDRAWN PER COURT ORDER.
Sheriff's Land Sale List
Times Recorder, Zanesville Wednesday, April 14, 2004. Local News. Hamilton County sheriff says fatal shooting justified. AP...
Hamilton County sheriff says fatal shooting justified -...
County Port Authority should have its first contaminated property to clean up and redevelop Oct. 19. That's when a Hamilton County sheriff's...
Port authority set to buy Sharonville site
Hamilton County Sheriff's Office (OH)
ALEA - Hamilton County Sheriff's Office
Hamilton County Sheriff's Office, serving Hamilton County, Tennessee.
Hamilton County Sheriff's Office - FAQ
Repos in Hamilton County...
Welcome to Indyrepos.com--|--Repos in Hamilton County
Hamilton County Sheriff's Office, serving Hamilton County, Tennessee.
Hamilton County Sheriff's Office - Civil Process
[home] [about] [contact] [links] Repos [Boone][Hamilton] [Hancock] [Hendricks] [Johnson] [Madison] [Marion] [Shelby]
Welcome to Indyrepos.com--|--Repo New & Residental Home Sales
Hamilton County Sheriff's Office, serving Hamilton County, Tennessee.
Press Releases - Hamilton County Sheriff's Office
|
