|
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 auctions | government surplus | government auction | government tax sales | free government auctions | government auto auction | government surplus auction | online government auction | government seized property | government surplus auctions | seized property auction | government land auctions | auction government | government land auction | government auction car | canadian government auction | pa sheriff sales | government auctions car | seized property | government land sales | us government auction | government auction vehicle | free government auction | government auto auctions | government computer auction | government seized properties
|
Tulsa County Sheriff's Office Local $555 $20,343 $20,898...
JMD: AFP: 2002 AFFR: Equitable Sharing Payments of Cash and Sale...
Tulsa Churches. Tulsa City-County Health Department. Tulsa County Sheriff's Office ... Tulsa Parks. Tulsa Police Department. Tulsa Area...
Tulsa Real Estate Information and Tulsa Community Links
AUCTION FORECLOSURE SALES INSTRUCTION SHEET. The Tulsa County Sheriff is ordered to sell foreclosed properties.
Tulsa County Sheriff's Office
Snohomish County Sheriff's Department (WA) Photo submitted by Bill Quistorf Chief Pilot ... P.O. Box 3683 Tulsa, OK 74101-3683 Ph (918) 599-0705...
ALEA - Snohomish County Sheriff's Department
The Tulsa County Assessor's office has a map of the Tulsa County School Districts in pdf available from their web site.
Tulsa City-County Library - Research Tools - Government Documents
Tulsa Jaycees Tulsa Hispanic Chamber of Commerce Tulsa City Council Tulsa City Hall FAQ Tulsa Firefighters Tulsa Police Tulsa County Sheriff's...
Gateway to Tulsa, Oklahoma - by Snowhawk
San Diego County Sheriff's Office. MD500D Photo courtesy of Tony Zeljeznjak ... P.O. Box 3683 Tulsa, OK 74101-3683 Ph (918) 599-0705 Fax (918...
ALEA - San Diego County Sheriff
...to discover that official accounts of the conflict from the Oklahoma National Guard, Tulsa County Sheriff and the Tulsa Police Department had...
Commission completes final report
Town of Porum ... 279 kb. Town of Romona ... 301 kb. Tulsa County Sheriff's Sale 1999-2002 ... 794 kb. Weatherford Public School...
Investigate & Special Audits
INSPECTIONS NUISANCE ABATEMENT NOTICE OF SHERIFF'S ... TULSA CLEAN CITIES - STAKEHOLDER MEETING TULSA COUNTY CRIMINAL JUSTICE TULSA COUNTY CRIMINAL...
The City of Tulsa Online - Agendas
|
