Auction Information

Real Estate Auction Action - Buying A Home At Auction


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.


MORE RESOURCES:
Following Its Recent Successful Auction Sale in Houston, Supreme Auctions Announces Latest Luxury No-Reserve Auction of Piney Woods Edge in Memorial Villages  Yahoo Finance

Located within the graceful Piney Point Village, this magnificent Texas home will be sold to the highest bidder at a live auction on June 27, 2019. HOUSTON ...


ADESA names leaders for its mobile and UVA auctions  Auto Remarketing

In response to what it describes as growing demand from its customers for mobile sales, ADESA on Thursday named Matt Laughridge to the newly created ...


Who Were the Breakout Stars of New York’s Spring Art Auctions? We Crunched the Numbers to Find Out  artnet News

Data shows which new entrants to Christie's, Sotheby's, and Phillips contemporary sales sparked the fiercest bidding in New York.


Annual Houston County surplus auction is coming up. Here’s what’s for sale.  Macon Telegraph

Houston County's annual surplus sale is on May 30 starting with registration at 9 a.m. Items for sale include cars, a fire truck, laptops, tractors, chairs and flat ...


Kurt Cobain’s Sweater From Final Photoshoot Sells for $75,000 at Auction  Rolling Stone

A sweater worn by Kurt Cobain during the singer's last photoshoot with Nirvana sold for $75,000 at auction Saturday. The cardigan, which Cobain donned at a ...


Weekly auctions continue under new management | News | wahoo-ashland-waverly.com  Wahoo Newspaper

WAVERLY – The name is now slightly different, but it is still pretty much going, going, gone as usual every Tuesday at the Community Building in Waverly.


IRS auctions: Your chance to take home the gold  Concord Monitor

A New Hampshire nutritionist who allegedly filed no federal tax returns for five years and tried to hide assets such as his homes by selling them to himself in ...


IRS to auction off hundreds of gold, silver coins seized from tax evader  Fox Business

The IRS is set to auction off some valuable assets this week that were seized from a person who failed to pay taxes to the agency over a number of years, ...


Art Collectors Splurge on Trophy Works at Auctions  The Wall Street Journal

Collectors jostled at the high end of the market during the New York auctions, smashing record prices for more than four dozen artists, including Claude Monet ...


2019 WBJ Real Estate Awards: McCurdy Auction held 600-700 auctions in 2018  Wichita Business Journal

McCurdy Auction is in 37th year of a changing business.


Latest Cap-and-Trade Auction Shows Strong Results  Streetsblog California

The California Air Resources Board just released the results from the latest – the 15th – joint California-Quebec cap-and-trade auction, and the program seems ...


Wheels: The ins and outs of auto auctions  Conway Daily Sun

Car auctions are all the rage lately. Once the bastion of the car dealer, auctions have become mainstream, thanks in no small part to the internet. Of course, eBay ...


American Artist Jeff Koons' "Rabbit" Sculpture Auctions For A Record $91 Million  DOGOnews

On Wednesday, May 15, 2019, an anonymous buyer paid slightly over $91 million to acquire American artist Jeff Koons' "Rabbit" sculpture at Christie's Post War ...


Mexico to auction off seized luxury goods to help poor  Washington Post

MEXICO CITY — Mexican President Andrés Manuel López Obrador hasn't just moved out of the luxurious president's residence, he's using it to auction off ...


A Shelby, a Bel Air and a sweet ’51 Mercury are on the auction block in the Tri-Cities  Tri-City Herald

Musser Bros. auction business in Pasco plans its first Bob Carter memorial auction Saturday at the airport featuring a 1951 Mercury, a restored Shelby ...


Ron Guth: Five Big Ones: Legend Rare Coin Auctions - May 15-16, 2019  CoinWeek

By Ron Guth ..... Disclaimer: The author is an independent reporter. He has no affiliation with Legend Rare Coin Auctions and he has received no.


Mexico Upstream Investment Advances as Industry Pleads Case to Revive Auctions  Natural Gas Intelligence

Private sector companies in Mexico are urging the new government to reconsider new oil and gas auctions as projects awarded during the previous ...


Lancaster County Drug Task Force to hold several online auctions throughout year instead of one big annual event  LancasterOnline

The Lancaster County Drug Task Force's annual public auction — which traditionally would be held this weekend — will not take place today at Lancaster ...


Silent auctions at Mad Cow Theatre in downtown Orlando held over  Orlando Weekly

Theater-goers in Central Florida have a second chance to bid on select items from the silent auction at Mad Cow's Black and White Bash, the...


NDDOT to add online vehicle auctions  KFYR-TV

The North Dakota Department of Transportation auctions vehicles it can no longer use and now the DOT says it's putting vehicle bids online as well.


Holland mansion going to auction with no minimum bid required  Detroit Free Press

A Holland mansion previously listed as $5.65 million is up for an absolute auction, or no required minimum bid, next month. According to a news release, the ...


Rare Dodo Skeleton May Fetch Over $700K at Auction  Live Science

You may have heard of the hapless dodo — an endearingly squat, toddler-size flightless bird — that was driven to extinction in the late 1600s and hasn't been ...


Kurt Cobain’s dirty paper plate sells for over $22K at auction  Page Six

Kurt Cobain's dirty paper plate was sold at auction for $22400. The Nirvana frontman had eaten pizza off the plate back in 1990 before he turned the plate...


Miami tech billionaire’s taking his Coral Gables estate to auction  The Real Deal

Miami technology billionaire Manny Medina is going straight to auction with his Gables Estates mansion.


Woman finds a thrill in running auction house  The Robesonian

LUMBERTON — For one Lumberton woman, every item has a price, it just takes the highest bidder to find it. For about 12 years, Karen Price, 54…


Turkey Said to Lean on Local Banks to Support Its Debt Auctions  Bloomberg

Turkey is leaning on local banks to buy more government bonds in debt auctions.


10-year yield falls to lowest level since 2017 as traders prepare for long trade battle  CNBC

The yield on the 10-year Treasury note fell to its lowest level since 2017 as more traders grew confident in a longer U.S.-China conflict.


Online Auction Platform Dropit Combines The Excitement Of Gaming With Retail  Forbes

DropIt is an online platform for 60-second reverse auctions, where prices start high and ratchet lower in one second increments. Founders, co-chief executives ...


Stand-alone photo: Melon auction  SFGate

Stand-alone photo: Two Yubari melons fetched a record-high price of 5 million yen (about $45,600) at the first auction of the year for the fruit at the Sapporo ...


Collection of 3 Shelby Cobras sold for millions at auction  Fox News

A trio of Shelby Cobras sold for a combined $7 million this past weekend. The cars were from the estate of noted collector Steven Juliano, who died from ...


Kurt Cobain's Used Paper Plate Sold At California Auction  NPR

The Nirvana frontman was eating pizza before a 1990 show in Washington, D.C., and he needed to write down his set list on. He grabbed his plate and listed the ...


Ontario County auction fetches $574K  MPNnow.com

HOPEWELL — The annual Ontario County auction of tax-foreclosed properties concluded Wednesday with 22 properties sold — including one batch of 37 lots ...


First-price auctions just went mainstream, but are publishers ready?  MobileMarketing Magazine

Liz Waldeck-Pinckert, director of publisher monetisation and strategy at AdColony, dicusses what the shift to the first-price auction model means for the industry.


The New York Day Sales: Highlights from a Week of Modern and Contemporary Auctions -  ARTnews

New records were set for Mickalene Thomas, Amy Sherald, Ed Clark, Rashid Johnson, Kevin Beasley, and many more.


Late auction house leader DuMouchelle had keen, expert eye  The Detroit News

Services are next week for Lawrence DuMouchelle, who has appeared on 'Antiques Roadshow'


John Lennon-Owned, Beatles-Signed ‘Butcher Cover’ LP Sells for $234,000 at Auction  Rolling Stone

A John Lennon-owned copy of the Beatles' infamous “butcher cover” version of Yesterday and Today, autographed by three members of the Fab Four, sold for ...


The bizarre world of art auctions on cruise ships  Ship Technology

Art auctions on cruise ships are popular with passengers but have been marred by past scandals, with lawsuits over fake artwork and delays in shipment.


Heritage Auctions – Seldom Seen Selections: Gem Proof 1837 No Stars Dime  CoinWeek

Chief Engraver William Kneass suffered a stroke before he could finalize the design for the Seated Liberty motif, which replaced the Capped Bust design on.


5G likely to mess with weather forecasts, but FCC auctions spectrum anyway  Ars Technica

A US Navy memo warns that 5G mobile networks are likely to interfere with weather satellites, and senators are urging the Federal Communications ...


AG: At least 115 victims defrauded of $1.04 million by Freeville auction house  Ithaca Journal

David Hall, owner of National Book Auctions, was arrested on a felony second-degree grand larceny charge in November.


Oil exec scores Coral Gables estate for huge discount at auction  The Real Deal

A Coral Gables waterfront estate once listed for $68 million sold for $25.5 million at auction, marking a 62.5 percent discount off the original asking price.


State To Auction Off Navatek II, Other Impounded Boats  Honolulu Civil Beat

On Sunday the Honolulu Star-Advertiser is scheduled to publish a legal notice from the state's Division of Boating and Ocean Recreation. It will announce a ...


WATCH: Jim Harbaugh auctions his house for a week-long vacation stay  For The Win

How much would you pay for a week-long sleepover at Jim Harbaugh's house? The Michigan football coach's home away from home in Coronado, California, ...


Tariff Bids Rise Further In Indian State's Solar Power Auction  CleanTechnica

Tariff bids by project developers continued to rise in Indian auctions, with several major developers avoiding large-scale auctions. The Solar Energy Corporation ...


Transformation of support system for renewables following introduction of renewable energy auctions in Ukraine  pv magazine International

Following the adoption of the Law of Ukraine "On the Electricity Market" (the Electricity Market Law) in 2017, which set out the legal framework for the new ...


Drug Task Force to auction 32 vehicles Monday  York Dispatch

More than 30 vehicles will be auctioned off on Memorial Day as part of the York County Drug Task Force's biannual public auction.


Troy auctions off surplus equipment  Times Union

TROY – The city is auctioning off surplus equipment from the departments of Public Works and Parks & Recreation. The auction, via Collar City Auctions, ...


A Monet Sells for $110.7 Million, an Auction High for an Impressionist Work  The New York Times

A work from Monet's “Meules” (“Grainstacks”) series that sold at Sotheby's in New York on Tuesday was the ninth-most-expensive painting ever sold at an ...


Collectors Car Auction goes on in Quincy  khqa.com

Thousands of people filled the Oakley Lindsay Center to try their luck at buying one of the cars rolling across the auction block on Monday. Boats, campers and ...


Rafters introduce specialty jerseys and auctions  wrcitytimes.com

For the City Times. Graduation 2019. WISCONSIN RAPIDS – The Wisconsin Rapids Rafters announced four specialty jerseys the team will wear on select nights ...


Developer halts auction after only 30 people show up  Newsday

The veteran developer had sought to sell 236 parcels across the county in a two-day auction, but bidder turnout was low.


County to suspend auctions of abandoned vehicles | News, Sports, Jobs  Maui News

The Maui News Maui County's Department of Environmental Management will be indefinitely suspending future abandoned vehicle auctions after the last ...


Cincinnati Industrial Auctioneers to Auction off Equipment of World-Class Rail-Car Manufacturer  Yahoo Finance

CINCINNATI , May 24, 2019 /PRNewswire/ -- Cincinnati Industrial Auctioneers, Inc. has been appointed by Nippon Sharyo Manufacturing, LLC to sell the ...


Clark County holds government surplus auction  News3LV

Today, Clark County is holding a government surplus auction, where it is selling 304 vehicles and 580 lots of other miscellaneous items. The auction, which ...


Mecum Auction: Tips on buying a used car  WRTV Indianapolis

INDIANAPOLIS — There are more than 2,000 cars at the Mecum Auction at the Indiana State Fairgrounds. If you're looking for a new ride to cruise around in ...


Meet the Data-Obsessed Collector Tracking Whiskies Going for Millions on the Auction Block  Fortune

There are three types of buyers for the world's rarest Scotch whiskies: drinkers, collectors, and investors. Andy Simpson is all three. “Today's collectors provide ...


Cattaraugus County property auction nets almost $200000 in profit  Salamanca Press

LITTLE VALLEY — Cattaraugus County lawmakers approved last week's annual property auction that netted the county treasurer's office just under $200000.


New Way Of Selling Your Home Combines Auctions, eBay  CBS Los Angeles

LOS ANGELES (CBSLA) — It's a countdown Michael Alatorre and his wife Andrea will likely never forgot. “Is this the closest we have come to the end,” he asks.


Julien's Auctions Gives Cheddar an Inside Look at Iconic Music Memorabilia  Cheddar

Julien's Auctions is hosting its Music Icons event this Saturday, May 18th. They will be auctioning off some of the most iconic rock 'n' roll artifacts including ...


Google shares details on how first price auctions in Google Ad Manager will work  Marketing Land

In March, Google announced it will shift to first price auctions for Google Ad Manager, its ad server and publisher exchange, by year end. On Friday, it issued an ...


A ‘Big Healey’ Launches Sotheby’s Online Collector Car Auction  Barron's

Online auctions are an excellent way to sell classic collector cars, as demonstrated by eBay.com and the startup site BringATrailer.com, founded in 2007. EBay's ...


Project Developers Continue To Avoid Renewable Energy Auctions In India  CleanTechnica

May 15th, 2019 by Saurabh. Project developers in India are unwilling to bid for large-scale solar and wind energy tenders, sounding alarms across government ...


June 1st Art Auction set at The Grove —A Gallery  Nebraska City News Press

That day, you will have an opportunity to meet Curt Van Ekeren, Executive Director of CASA Homes of Hope (Yuma, AZ). Two framed Collections of Art (by Rosa) ...


Rec association to hold live, silent auction in Augusta  Kennebec Journal & Morning Sentinel

The Capital Area Recreation Association will hold a live and silent auction beginning at 5:30 p.m. Saturday, June 1, in the North Wing of the Augusta Civic ...


Classic car auction at Musser Bros. Truck and Auto Auction in Pasco brings sweet rides out of the Tri-Cities' shadows  Tri-City Herald

Jake Musser of Muser Bros. Truck and Auto Auction in Pasco tells about their inaugural Bob Carter Memorial Classic Car Auction featuring muscle, classic and ...


Google’s Move To First-Price Auctions Will Likely Put A Dent In Header Bidding  AdExchanger

“The Sell Sider” is a column written for the sell side of the digital media community. Today's column is written by Jean-François Bernard, co-founder and chief ...


Here’s What to Expect at the $1.3 Billion Spring Auctions in New York, From a $58 Million Koons to a Once-Lost Cézanne  artnet News

Here are all the highlights at the Impressionist, modern, and contemporary art auctions in New York next week.


Auction company shares what happens to leftover merchandise when stores close  WBAY

Action 2 News wanted to know what happened to all the leftover merchandise when a store closes.


Sotheby's to Hold First Auction of Aboriginal Art in New York -  ARTnews

Sotheby's is relocating its Aboriginal art auction from London to New York, moving the sale—to be timed with this year's November auction of contemporary ...


Editorial: ACV Auctions' technological triumph  Buffalo News

Workers in the arbitration department at ACV Auctions office in the Innovation Center at the Buffalo Niagara Medical Campus on April 3. The startup is one of ...


Germany's euro 6B 5G Auction Should Be a Break Point for Telecom  Light Reading

Germany's interminable 5G auction should make Europe's regulators think about the way they award spectrum to network operators.


Diamond Bar manse to be auctioned with no reserve in June  The Real Deal

A newly remodeled mansion on the eastern edge of Los Angeles County is hitting the auction block with no reserve.


Veterans in Crisis Auction, Traverse City  9&10 News

A local nonprofit has some sweet items up in an online auction to help veterans who are financially struggling. Veterans in Crisis in Traverse City can help with ...


Bring a Trailer Goes Posh as Auction Site Starts “White Glove” Service by Selling Its Own Mercedes Gullwing at No Reserve  Car and Driver

Pristine 1965 Mercedes-Benz 300SL Gullwing heads to auction to commemorate Bring a Trailer's new Plus and White Glove services.


Cincinnati Ex-Terry's Turf Club neon signs up for auction WCPO staff 2:01 PM, May  WCPO

Mecum is auctioning off dozens of neon signs that once graced the outer walls of Terry's Turf Club in Linwood.


This 1939 car going up for auction could become the most valuable Porsche ever sold  WDAF FOX4 Kansas City

The Porsche 911's great grandfather is going up for auction this summer and it could well be the most valuable car ever sold with the Porsche name on it.


Massive collection of 110 vintage muscle cars revealed in southwestern Iowa ahead of auction  Des Moines Register

Coyote Johnson of Red Oak, Iowa, is planning to auction off the massive collection of muscle cars he's spent his life collecting.


Second auction of Neil Armstrong's space memorabilia brings total amount sold to $7.5M  Houston Chronicle

A collection of first moonwalker Neil Armstrong's space memorabilia sold at auction this weekend for $2.34 million -- bringing the total amount purchased over ...


Cars, computers and more available at Clark County auction  KTNV Las Vegas

Every year Clark County holds its spring surplus auction and this year's preview and registration starts on May 8.


Rare David Bowie demo tape up for auction  CNN

If you thought David Bowie's music was off-the-wall, wait until you hear the early recordings that didn't make it onto his first album.


Dallas' Robert E. Lee Sculpture Is Going to Auction  D Magazine

Sculptor Alexander Phimister Proctor's statue of Robert E. Lee will be open to bids with a starting price of $450,000 and the requirement that it not be displayed ...


MeiGray Group nets nearly $10,000 in NWHL charity auctions  The Ice Garden

The MeiGray Group announced on Twitter that their auctions of various NWHL items secured $9,912.53 over the course of the 2018-19 season. We are thrilled ...


Online Storage Auction Service Lockerfox Expands Office Space  PR Web

Cornelius, NC (PRWEB) May 23, 2019 -- "Our auction platform has enjoyed solid growth since launch and we're very excited to be growing our corporate office ...


NYAG steps into National Book Auction scam case after owner's arrest  ithaca.com

New York Attorney General Letitia James has officially taken action against National Book Auctions, the disgraced consignment and auction business formerly ...


Legacy celebrated at benefit concert, auction | Living  thepress.net

Join the Shirley Ann Foundation to celebrate the inaugural Shirley Ann Foundation Benefit Concert and Auction on June 15 at 7 p.m., at the Blackhawk Auto ...


Auction and wine event scheduled - The Clanton Advertiser  Clanton Advertiser

By JOYANNA LOVE/ Senior Staff Writer. The Humane Society of Chilton County will hold its annual auction fundraiser at Hidden Meadow Vineyard in Jemison ...


Auction of Treasury Bills on 28 May 2019  Yahoo Finance

The treasury bills for sale have the following stock exchange codes: NameStock exchange codeMaturitySKBV 19 / III98-171083 September 2019SKBV 19 ...


Bids in Germany's 5G auction already top 6 billion euros  KFGO News

FRANKFURT (Reuters) - Germany's auction of frequencies for fifth-generation mobile services, now into its 10th week, has drawn 6 billion euros ($6.7 billion) in ...


Commercial Condo Auction June 19  ARLnow

The foreclosure sale of a single-story retail corner condominium is taking place at the Circuit Court of Arlington County on June 19.


CarWave expands online auction platform beyond California  Automotive News

CarWave may not be novel, but its apparent success in the online auction business shows there's a thirst for digital auctions.


Engie Wins 200 Megawatts Of Wind In India's Latest Auction  CleanTechnica

May 16th, 2019 by Saurabh. India completed its seventh national-level wind energy auction despite less that impressive participation from project developers.


This massive Long Island land auction could bring in $34M  The Real Deal

An auction later this month will seek to sell more than 230 mostly residential parcels in Suffolk County.


Michael Jackson autographed jacket may fetch $80K on auction block  Fox Business

Iconic rock memorabilia hits the auction block in New York City this weekend.


Auction set for contents of namesake for Shoreway's Westinghouse curve  Crain's Cleveland Business

The sale of the Westinghouse complex on West 58th Street in Cleveland may be looming closer as an auctioneer sells off the equipment of its long-time ...


5 Lots That Will Make or Break the Upcoming New York Auctions  Artsy

Next week, billions of dollars of art will be up for sale at New York City auction houses, and the performance of top lots will set the tone for the art market for the ...


JGBs firmer as 20-year auction draws ample demand  Reuters

Japanese government bond prices were mostly firmer on Wednesday, paring earlier modest losses after a well-received 20-year debt auction improved market ...


I went to an auction at the world-famous Christie's auction house, which sold $7 billion worth of art, jewelry, and luxury goods in 2018, and it was nothing like I'd expected  Business Insider

I went to an auction at Christie's, where more than $30 million worth of jewelry was sold. I thought it would be stuffy and quiet — but it wasn't what I'd expected.


Sotheby's to Hold First Major Aboriginal Art Auction in the US  Artforum

Sotheby's has announced that it is moving its annual Aboriginal Art Auction from London to New York. The inaugural New York sale will take place this ...


Former NFL Stars Waterfront Home In Greenwich Set For Auction  Greenwich, CT Patch

GREENWICH, CT -- Former All-Pro Baltimore Ravens center Matt Birk is auctioning off his waterfront Greenwich home next month for a starting bid of $3.25 ...


Reverse Auctions May Become the Key to Energy Storage Rollout  Microgrid Knowledge

Will reverse auctions emerge as a way to drive down costs as electric grids incorporate more renewables and energy storage? EDF makes the case.


home | site map
© 2006