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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: Rare Early Basquiat to Lead Sotheby’s Contemporary Auctions in New York with $10 M. to $15 M. Estimate ARTnews.com Want a one-of-a-kind man cave treasure? Portions of Spartan Stadium scoreboards up for auction Lansing State Journal Top 10 Car Auctions To Watch in 2025 duPont REGISTRY News Boys & Girls Clubs of Metro South raises $544K through Gala Auction at Gillette Stadium Taunton Daily Gazette FERC approves PJM capacity auction price cap, floor Utility Dive Kentucky Fish and Wildlife spring auction set for May 5 Kentucky Fish and Wildlife (.gov) Auction planned for cancer patient huntingdondailynews.com State announces auction date of surplus heavy equipment and state vehicles Vermont Business Magazine Growing Chesterhill Produce Auction has been a two-decade labor of love Athens County Independent Two suspects arrested in connection with Warren County car auction robbery FOX19 | Cincinnati Auctions The Military And CIA-Provenance Highlights Of The Monaco Legend Group Spring Auction Hodinkee Why confidence in the commercial property market is building and why auctions are leading the charge CoStar This iconic Route 66-inspired Springfield restaurant is going up for auction Springfield News-Leader Rare Custom Rolex Daytona Heads to Auction nationaljeweler.com Auction: Wellsville household is on sale until April 30, see GALLERY the wellsville sun Napoleon's sword to be sold at auction in Paris Yahoo News UK Tall Order: Artis Gilmore Consigns Collection To Grey Flannel Auctions Sports Collectors Daily iDealwine Publishes Their Data-Driven Auction Barometer Wine Industry Advisor West Haven office building hits auction block Hartford Business Journal Wake Forest University Athletics Auctions Wake Forest University Athletics Mecum Auctions Announces 38th Original Spring Classic At Indiana State Fairgrounds This May DriveSpark Troubled Reno Kimpton site hit with auction notice by lender Reno Gazette Journal Bike from Pee-wee’s Big Adventure Going Up for Auction Consequence of Sound Rotary Club looking for the community’s help to smash their Auction total heading into the weekend whopam.com Imperial Glass collectors set for 49th annual convention featuring Lucille Kennedy auction in Ohio WTRF Bass House Art Collection Heads to Christie’s for Global Auction Fort Worth Magazine A Magritte Drawing Found on eBay for Less Than $2,000 Heads to Auction for Over $100,000 ARTnews.com Charity Auction Offers Exclusive Ghostbusters Experience: Tour Ghost Corps, Meet Jason Reitman, Plus More Ghostbusters News Valley Haven gears up for auction Friday Valley Times-News Game-Used or Autographed All auctions Baltimore Orioles Auctions Clean Energy Auctions in Latin America Inter-American Dialogue The Union flew the white flag of surrender at Fort Sumter. Now it's up for auction in Greenville. Post and Courier Why Did This Broken Ceramic Pot Sell for More Than $60,000 at Auction? Smithsonian Magazine Guatemala opens 1.4 GW energy auction pv magazine International Gallop for the Glow: Fine bourbons on auction block during Coshocton Derby Day event Coshocton Tribune |
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