|
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. |
government motorcycle auctions | auction car government police | govenment seized property | government auctions in the uk | oregon government auctions | arizona government auction | government auction in texas | auction car government online | government seized assets and property | nashville government car auctions | auction computer adelaide government | government surplus items for sale | us forest service surplus property | federal marshal auctions | surplus government property sale | surplus government land for sale | kaiser permanente surplus property | government surplus vehicle | government auctions information | government surplus humvee | federal goverment post office auctions | us government surplus food | texas state government land auctions | auction domain government public | auction car government jersey new
|
Sales Tax Tables. Sales Tax Products Online Sales Tax Lookup Sales Tax Questions Contact Us ... public, private, and government sources to...
SIMPOVA Web Commerce Sales Tax Tables
Charities & Non-Profits Government Entities Tax Professionals Retirement Plans Community Tax ... Business Opportunities | Contact Us | Important...
IRS.gov Home
Federal, State, and Local Governments State Government Tax Collections ... Main Site Map Contact Us ... The State Government Tax Collections (STC...
State Government Tax Collections
Sound Advice Tax Resources IRS Issues Optional Sales Tax Tables ... Home | About Us | Continuing Education | Future CPAs | Government Affairs...
IRS Issues Optional Sales Tax Tables
Sales Tax Rates Six states increased their sales tax rates during 2003. Idaho's rate went ... at tf@taxfoundation.org, or write us at 1900 M...
TAX FOUNDATION'S STATE FINANCE SECTION
Contact Us. Home Business Individual Government ... Government Practitioner Highlights: Tax Filing Reminders. Summary of Tax Exemption...
Wisconsin Department of Revenue Home
State Sales Tax Deduction on Federal Income Tax Returns About the 50% negligence penalty ... About Us Employment Opportunities Forms Tax Guides...
Tennessee Department of Revenue
Sales Tax and Your New Business Starting a new business? ... Texas Comptroller of Public Accounts Window on State Government Contact Us Privacy and...
Texas Taxes
News Resources About Us. Search. Home. Members. News. Resources. About Us. IRS Issues Optional Sales Tax Tables ... Related...
IRS Issues Optional Sales Tax Tables - 23 Dec 2004
Fear fuels Calif. sales tax debate (CNN Money) ... of Family Historian - 2.3 »Re: The BEST ecommerce packages »US government targets spyware...
osCommerce Experts - Fear fuels Calif. sales tax debate (CNN Money)
|
