|
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. |
sheriff sale | government car auction | government house auction | online government auctions | canadian government auctions | oakley government sales | free government auction listing | federal auctions | government car auctions | sheriff sales | government sales | seized property auctions | online auctions government | government surplus sales | federal government auctions | us government auctions | uk government auctions | oregon surplus property | free auto government auctions | gsa government auctions | kansas surplus property | government property sales | federal auto auctions | government property tax sales | canadian government surplus
|
...are carried on in many US towns ... The Shadow Government: Its ... purchased a surplus IBM copier for parts at a ... *Sacramento Army Depot*
EVIDENCE FOR THE NEED OF A GLOBAL PEACE VIGIL
Blvd, Bldg 210/5 Memphis, TN 38114-5211 Government Surplus Dexis Corp. ... FRANK P.O. BOX 60011 HARRISBURG, PA ...
BOATANCHORS: Bry's HAM PAGES by AF4K
Harrisburg Senators. Mount St ... Army Depot was downsized in 1995, the federal government gave the surplus depot ... 5. Deliver Us from Evil...
Orrtanna News - Topix.net
Glossary | Contact Us ... Bidders list for government surplus auctions 2000-0300 07 ... Mallinckrodt, Harrisburg, PA, radiaiton ... Marion...
NRC: Closed Appeal & FOIA/PA Cases - FY 2000
House Italian seed depot set ... would convert surplus weapons ... committees and reports by the US Government Accounting ... 315 Peffer St.
NucNews - April 4, 2001
Palo Alto, CA. US. World. Autos ... Harrisburg Senators. Mount St ... Army Depot was downsized in 1995, the federal government gave...
Shippensburg News - Topix.net
Army Depot was downsized in 1995, the federal government gave the surplus depot ... Tuesday at Old Harrisburg and ... 5. Deliver Us from Evil...
Marion, PA News - Topix.net
Army & Navy Surplus Depot. Construction and ... Sells genuine US Government military surplus clothing, field gear, and accessories, both wholesale...
Military Vehicles and Parts Dealers
...issue for anchor chain, as recognized by both Government and industry ... 14, Volume II, Chapter 4 September 2002 4-3 c. Surplus, mattresses,
Microsoft Word - C4 Sep 2004.doc
Services. COMPONENT>SURPLUS COMPONENT; ALTERNATIVE ... Tel: 1-888-855-9098 (Toll Free US & Canada) ... BC Communications. The 211 Bldg. -...
TIS Address Search Result
|
