How Sellers Can Take Advantage of Real Estate Auctions

Posted on December 31, 2012 by

Even though you may be foreclosing on your house – certainly a stressful experience – there are certain advantages a real estate auction brings. So keep these in mind as you go through the process.

· Added exposure. When doing an auction, the property is likely to receive increased visibility and interest. The owner of the property (the bank) is going to market the property aggressively, which will help to bring exposure.

· Buyers are going to buy. You likely had your property on the market for months (or even years) before deciding to do an auction. Potential buyers came and went, never actually buying. But now, you’re guaranteed to have your house sell. Anyone coming to bid on the house is likely pre-qualified and ready to buy. Continue reading →

Posted in Uncategorized | Tagged , | Comments Off

Tips for Investing in Foreclosed and Real Estate Owned Property

Posted on December 30, 2012 by

If you play your cards right, investing in foreclosed properties can be a very profitable venture. Although it’s not quite as simple as the late-night infomercials lead you to believe, the following tips can help you prepare for what lies ahead.

Before property is labeled “Foreclosed” it must first be placed for sale through a real estate auction. In order to purchase property through the foreclosure auction, individuals must place a minimum bid equal to the amount of the loan balance, along with any other costs associated with the process, such as accrued interest and attorney fees.

Typically, foreclosed real estate is sold “as is”. Occasionally, the ex-homeowner may still reside in the home and individuals who purchase the property will have to deal with having them evicted. This is not a pleasant experience, so conduct research on any foreclosed property you are interested in to determine if the home is vacant or occupied. Continue reading →

Posted in Uncategorized | Tagged , | Comments Off

Finding IRS Real Estate Auctions

Posted on December 29, 2012 by

Among the many opportunities that can be found to purchase investment Real Estate under market value, Government auctions of seized property is one of best. Finding IRS Real Estate auctions has gotten a big boost from the advent of the Internet.

When the Internal Revenue Service seizes property from a tax payer for non-payment of tax obligations, it sells this property through a public auction. The proceeds of the sale are applied to the tax debt. The Internal Revenue Service is not in the Real Estate business and they sell the property at auction using sealed bids in order to move it as quickly as possible. They are not concerned with the fair market value, but only with getting whatever they can get as quickly as they can get it. Continue reading →

Posted in Uncategorized | Tagged , | Comments Off