Foreclosure Auctions
Foreclosure Auctions: Understanding The Process
James Foxx / October 7th, 2010
Those who are just starting out in foreclosure investing are understandably unfamiliar with the process that goes on in foreclosure auctions. Of course, to avoid falling in traps and … More >>
How To Navigate A List Of Foreclosure Auctions To Get The Best Deals
James Foxx / September 30th, 2010
Knowing how to research properly is essential in getting the best deals from the foreclosures market. While you may have enough money and financial resources to get started on your … More >>
Number of Foreclosed Property Auctions for Sale Surged in Austin
James Foxx / September 21st, 2010
Total number of foreclosed property auctions for sale in Austin, Texas rose by 27% in August 2010 compared with the same month a year ago. According to the latest housing market … More >>
Properties Under House Auctions for Sale High Among Hispanics
James Foxx / August 24th, 2010
A recent research report claims that majority of mortgage loans owned by Latinos and Hispanics in California have a higher possibility of ending up in foreclosure compared with other … More >>
Foreclosure House Auctions for Sale Persist in Some Counties of WA
John Evan Miller / July 26th, 2010
For the state of Washington, June is a busy period in terms of developments that have significant bearing on the state's economy. One of these is the number of foreclosed house … More >>
Mortgage Rates Might Help Improve House Auctions for Sale Market
James Foxx / July 23rd, 2010
The number of foreclosed house auctions for sale might just experience some decline in the coming months, as more and more homeowners are reportedly seeking loan refinancing with the … More >>
Fort Lauderdale Prices Rose as Home Auctions for Sale Slowed
James Foxx / June 23rd, 2010
Home prices in Fort Lauderdale improved in May as home auctions for sale More >>
Underwater Homes Still Moving Las Vegas Foreclosure Auctions
James Foxx / May 28th, 2010
Underwater mortgages are still among the major drivers of Las Vegas foreclosure auctions, as the city continues to have the highest percentage of underwater mortgages in the More >>
Sales and Prices Surged Amid Charlotte Foreclosure Auctions
James Foxx / May 27th, 2010
House sales and prices jumped up despite the surge in Charlotte foreclosure auctions in April, based on data from the Charlotte Regional Realtor Association and other research More >>
Rescuers Not Helping Anderson Foreclosure Auctions Problem
James Foxx / May 26th, 2010
The burden of Anderson foreclosure auctions is not being lightened by the fraudulent operations of some foreclosure rescue firms operating in the state of Indiana, according to real estate … More >>
Table of Content
FAQ
General Questions
- What is involved in a bank foreclosure auction?
- How to find out about court foreclosure auctions?
- How much money do I need to buy properties at auctions?
- What are the advantages of buying foreclosure properties at auctions?
- What should I be aware of when buying foreclosure properties at auctions?
Auction Process Questions
- When attending an action, what do I need to bring with me?
- Why is a cashier's check required and how does it differ from a regular check from my bank?
- How much experience is needed when bidding on a property?
- I already have a broker or agent, what does that mean for the auction process?
- Do I have to bid or can I simply watch?
- What is the length of each auction?
- Is it possible to purchase multiple properties at a single auction?
- What does "earnest money" mean and how is it used?
- What payment methods can I use for the earnest money?
- What do I do if the earnest money I have to pay is less than the amount required to obtain a cashier's check?
- If I buy multiple properties, does my earnest money deposit increase?
- If I win the bid is it possible to give the contract to another person?
- If I am the winning bidder but decide that I do not want the property, am I able to cancel the contract?
- Are auction results published?
Finance Questions
- If I win the auction, how do I get the purchase financed?
- Am I required to use a pre-selected lender or can I choose my own?
- If I purchase a property, can I obtain financing myself?
- What does "cash only" mean in relation to a property being auctioned?
- If I want to bid on a property that requires "cash only," must I have the cash on hand at the auction?
- If I plan to pay cash for a property what all do I need to bring with me?
- What is meant by "closing costs"?
Pre Auction Questions
- What does Pre-Auction Bid mean?
- What property types are sold through pre-auction bids?
- Who is the owner of a property up for auction?
- How are the values of the properties at pre-auction bids determined and are they up-to-date?
- Is it recommended to do an inspection before bidding on a property?
- Is it possible to do an inspection once the auction is over?
- Am I able to have a contractor accompany me for the inspection?
Title Questions
- Are there liens on the foreclosed properties being auctioned off?
- Once the auction is over, is there a time in which the previous owner is able to pay off the debt leading to foreclosure?
- Do I have to use a pre-selected title company or may I choose my own?
- If I purchase a property, how long will it take for me to receive the title?
