Foreclosure Auctions
Underwater Homes Drive Surge in Tucson Foreclosure Auctions
James Foxx / May 25th, 2010
Underwater homes are contributing to the still high number of units getting posted for Tucson foreclosure More >>
HOAs Contributing to San Antonio Foreclosure Auctions
James Foxx / May 21st, 2010
Thousands of homeowners are losing their properties to San Antonio foreclosure auctions, according to local reports. However, a big number of these foreclosures are not due to borrowers … More >>
Greenville Foreclosure Auctions and High Rent Create Problems
James Foxx / May 21st, 2010
Continuous increase in the number of homes falling under foreclosure auctions in Greenville and escalating levels of housing rents are making it very difficult for people to find affordable … More >>
Price Reductions Driven by Minneapolis Foreclosure Auctions
James Foxx / May 20th, 2010
Home price reductions stepped up in April as more properties entered Minneapolis foreclosure auctions in the previous three months, based on data from the Minneapolis Area Association of … More >>
Boston Foreclosure Auctions Contributed to Spike in State
James Foxx / May 20th, 2010
The pace of Boston foreclosure auctions contributed significantly to the spike in foreclosure activity in Massachusetts in More >>
Fort Wayne Foreclosure Auctions Set to Decline?
James Foxx / May 19th, 2010
Local residents are hoping that the number of Fort Wayne foreclosure auctions will experience some decline following the release of nationwide housing statistics which showed that the U.S. … More >>
Job Losses, Fraud Driving Rockford Foreclosure Auctions
James Foxx / May 18th, 2010
Record job losses and fraudulent activities have been driving Rockford foreclosure More >>
Bargains Dominated Sacramento Foreclosure Auctions
John Evan Miller / May 18th, 2010
Bargains dominated the Sacramento foreclosure auctions held at the Sacramento Convention Center recently, reflecting the still surging foreclosure pace in the Sacramento More >>
More Homes Entering Toledo Foreclosure Auctions
James Foxx / May 7th, 2010
More homes are entering Toledo foreclosure auctions, as shown in the increase in foreclosure filings in Lucas County, where Toledo is the administrative More >>
Rush Offers for Properties in Indianapolis Foreclosure Auctions
James Foxx / May 6th, 2010
Real property agents are working around the clock to cope with an onrush of offers for properties in Indianapolis foreclosure auctions and for other residential structures that are being … 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?
