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Net Auctions and Auction Information |
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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: US is auctioning a seized $325M Russian yacht with 8 state rooms, a helipad, a gym and a spa AP News $325 million Russian superyacht in San Diego up for auction fox5sandiego.com Fairly Resilient Despite Bumpy Auction Mortgage News Daily Vineyard Road Auctions Finger Lakes Times Thousands of Cars Will Be Auctioned Off During Monterey Car Week. These 16 Are the Coolest Road & Track Sawdust Festival to host auction to support artists benevolence fund Los Angeles Times We Tried To Guess How Much These Crazy Supercars Would Auction For, Then One Of Us Bought One The Autopian Rare baseball cards and gold bar up for grabs at state fair auction The State Journal-Register Mastropietro Winery Is Being Offered at Auction Business Journal Daily Heritage Auctions welcomes new director in Beverly Hills Beverly Press & Park Labrea News Germany receives no bids in zero-subsidy offshore wind auction Offshore Magazine Treasury market poised to trade on economic outlook after absorbing this week's auctions: BMO MarketWatch Ten-acre Aspen equestrian estate to sell at auction AspenTimes.com Fuell assets go to auction, disappointing crowdfund backers Bicycle Retailer & Industry News Analysis: Why Germany’s offshore wind auction failed Wind Power Monthly MDCE's New AI Technology Targets Both Medical Diagnostics and Sports Memorabilia Authentication Markets Stock Titan Auction result of Treasury Bonds - RIKB 38 0215 GlobeNewswire Simón Bolívar's Long-Lost Firearm Surfaces for Auction as Venezuela Captures Global Headlines PR Newswire Cox Automotive Signs Intent to Acquire Bel Air and Tallahassee Auto Auctions from BSC America Cox Automotive Inc. Deal Dispatch: Performance Food Group And Claire's Lead A Week Of Big Auctions, Retail Woes Benzinga Governor’s Blue Ribbon Auction rewards Wisconsin fair exhibitors Brownfield Ag News GAA Classic Cars Recaps July Greensboro, NC Auction duPont REGISTRY News Romanian bourse BRM joins power auctions within European Single Intraday Coupling Balkan Green Energy News The government is making an unprecedented move to fund itself — and it’s raising some eyebrows MarketWatch Fancy a Ferrari 250 GTO in White? You're In Luck — The Only One Is Heading to Auction - Road & Track [VIDEO] 2025 Corvette ZR1 Sells for $391K at Manheim Dealer Auction - Corvette: Sales, News & Lifestyle CorvetteBlogger Family of Packers safety Tom Brown puts Super Bowl, NFL Championship rings up for auction Green Bay Press-Gazette PLCB accepting sealed bids for auction of expired restaurant licenses, including in Bucks bucksindependence.com Super Saturday: Super Auction returns this weekend Citizen Tribune Yacht Amadea Auction Set for September Megayacht News Japan Designates New Sites Offshore Hokkaido for Wind Auctions OffshoreWIND.biz Wellsburg school off the auction block for now heraldstaronline.com Was It Rob Liefeld Trying To Sell His Deadpool Cover For $7.5 Million? Bleeding Cool News Dynan leaves San Diego County with $10,000 lamb sale at county fair auction Village News Homepage Best of Panama auction sees world-record price Global Coffee Report Milwaukee's abandoned boat 'Deep Thought' sells for just $2.5K, leaving county to foot rest of the bill Milwaukee Journal Sentinel Whitney Houston's legacy celebrated in upcoming auction of rare items FOX 11 Los Angeles Every car has a story: Here's how people lose vehicles at Crow Tow auctions The Des Moines Register Treasury Yields Extend Rise After Lackluster 10-Year Note Auction The Wall Street Journal MDCE Powers Up with Patent-Pending AI Tech, Auction Expansion & Share Restructure Plan ACCESS Newswire WindEurope urges Germany to drop negative bidding in wind auctions, switch to CfDs Balkan Green Energy News |
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