Real Estate Auctions
Buying Bank Foreclosures At Real Estate Auctions
Buying Bank Foreclosures At Real Estate Auctions
You’ve seen the ads offering bank foreclosures for sale at incredible prices at places like Auction.com and you’re wondering, “Should I try to bid for one of those houses at a real estate auction?” Please understand that we’re not talking about property auctions on the courthouse steps. we’re talking about the big auctions by REDC (www.auction.com), Hudson and Marshall (www.hudsonandmarshall.com), Zetabid (www.zetabid.com), and Value Home auctions (www.valuehomeauctions.com). The upside might be juicy. At one recent auction, at least 3 of the homes sold for just 40% of the recent MLS (Multiple Listing Service) price. That means the buyer might be able to turn around and re-sell the house and make tens of thousands of dollars in profit, even in this market. So, should you try to buy a house at a bank foreclosures real estate auction and what are the important things I must know before bidding? › Continue reading