|
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. |
auction car government used | government auction and indiana | government surplus vehicles for sale | asu surplus property | auction government in ohio | nc drug seized property | illinois government surplus property | government surplus land sales | government surplus helicopters | government auction foreclosure | missouri automobile auctions government | government surplus 386 computers | government repo auctions | government auction michigan | government auction minnesota | government own tax sales | auction government jewelry seized | government auctions homes canada | auction car government nsw | wa government vehicle auctions | government auction lists | sales tax tables u.s. government | government auction saskatchewan | western australia government vehicle auctions | government seize auctions
|
POSTED: 11:18 am EDT July 8, 2004 TROY, Ohio -- Barry, a K-9 unit with the Miami County sheriff's office is retiring on Thursday.
WHIOTV.com - News - Miami County K-9 Retiring From Duty
It's the annual Operation Cover-Up sponsored each year by the Miami County Sheriff's Department.
WHIOTV.com - News - Operation Cover-Up In Miami County
...are also submitted to the Miami County Sheriff for his/her collection. If the taxes remain unpaid by October 1st, the Miami County District...
Miami County, Kansas - Official Web Site
Press Releases. Sexual Predators SHERIFF'S SALE CONDITIONS Miami-Dade County Miami-Dade Police Department Court Services Bureau...
Miami-Dade County
...stairs of their Peru, Ind., home Wednesday to tell him there were some men at the door -- the Miami County Sheriff's Department chaplain and a...
Slain policeman always wanted to be an officer
Hendricks County Sheriff's Sale ... DATE OF SALE: 5/20/04 ADDRESS OF PROPERTY: 1413 Miami Court South Drive, Plainfield, IN 46168 PLAINTIFF:...
Hendricks County Sheriff's Sale
Debt Consolidation • Investing • Credit Cards Results for: county-miami-office-sheriff Modeling Jobs Now Available Nationwide...
www.kmmshop.com This domain is for sale.
The Sheriff is issued Orders of Sales from the ... at 1:00pm at the Shelby County Courthouse, on ... Dan Bohannon 04-CV-131 14999 E. Miami Shelby...
Shelby County Sheriff - Shelby County, Ohio - Upcoming Sheriff Sales
MONTGOMERY COUNTY SHERIFF'S PROPERTY SALES ... 10/14/04 2003CV05365 645 Miami Chapel Road Dayton 45408 $1,000.00 Active...
This web site is provided as a public service and updated weekly,
AMOS W. LONG, Sheriff of Miami County, is a native of Pickaway County, Ohio, and was born in 1831. He was brought up in Ohio.
Miami County, Part 7
|
