The lenders unwillingness to adjust the prices on their properties is affecting us greatly. We are getting consumed by all the vacant homes.
A significant number of banks out there won't even respond to our fair offers. I understand that they are taking huge losses but its not our problem.
Many prospective home buyers and investors have been trying to get great deals at auctions. I wonder why banks are sending a great deal of their properties to auction?
Live auctions have generally been a great way to sell that overstocked inventory. Everything from junk to real estate can be sold at auction.
Auctions can be held almost anywhere that a microphone can be setup. The mobility of theses auctioneers makes these live auctions very popular today. They are able to setup a whole auction in front of a house in less than twenty minutes.
Everyday I drive through my neighborhood I see more and more auction signs popping up. I assuming that the lenders are trying to get a higher price than on the open market. It is true than they can receive a higher price at auction. I have seen it with my own eyes people bidding up properties more than they are worth.
A fix percentage of the final bidding price is the most common way an auction house gets paid. That amount is added to your bid to make the final purchase price.
When bedding at an auction remember to calculate all of the costs when evaluating your bid. Make sure to have a maximum bid that you will not pass. Your maximum bid should include all your costs like auction fees, closing costs, and anything other you can think of.
The problem with a significant number of auction houses today is their rules and guidelines. Usually rules and guidelines are to protect the buyer and the seller but I wish that was true. Be very careful and read all of the small print pertaining to the auction you are interested in attending. Make sure you read the sections pertaining to bidding and buying at auction.
I wish that when I went to an auction I could win a property for the opening bid. I wish that some body could, but even if I was the only one there I still couldn't. Those incredible low prices only exist to drive traffic to the auctions.
The reason why many auctions have such low beginning bid amounts is because they have reserve amounts. Which enables them not to sell the property unless you bid the price above the predetermined acceptable price set by the seller. The only place that talks about reserve amounts is in the small print in the back of their pamphlet. In the front of the pamphlet no where I can find a mention of a reserve. I wonder why?
Did you know that if you win an auction the seller typically has seven days to accept or deny your bid? Even if you win and your bid is higher than their reserve that does not mean that you have won.
I can see that the auctions are in the favor of the seller. One of things that I hate the most is wasting my time. They make you fill out forms then make you pre-qualify to bid. If I knew my final bid really meant I won that would be different.
I believe that everyone should feel the intensity that an auction brings. I wish everyone luck and hope that you get that great deal. Keep your hand held high!
A significant number of banks out there won't even respond to our fair offers. I understand that they are taking huge losses but its not our problem.
Many prospective home buyers and investors have been trying to get great deals at auctions. I wonder why banks are sending a great deal of their properties to auction?
Live auctions have generally been a great way to sell that overstocked inventory. Everything from junk to real estate can be sold at auction.
Auctions can be held almost anywhere that a microphone can be setup. The mobility of theses auctioneers makes these live auctions very popular today. They are able to setup a whole auction in front of a house in less than twenty minutes.
Everyday I drive through my neighborhood I see more and more auction signs popping up. I assuming that the lenders are trying to get a higher price than on the open market. It is true than they can receive a higher price at auction. I have seen it with my own eyes people bidding up properties more than they are worth.
A fix percentage of the final bidding price is the most common way an auction house gets paid. That amount is added to your bid to make the final purchase price.
When bedding at an auction remember to calculate all of the costs when evaluating your bid. Make sure to have a maximum bid that you will not pass. Your maximum bid should include all your costs like auction fees, closing costs, and anything other you can think of.
The problem with a significant number of auction houses today is their rules and guidelines. Usually rules and guidelines are to protect the buyer and the seller but I wish that was true. Be very careful and read all of the small print pertaining to the auction you are interested in attending. Make sure you read the sections pertaining to bidding and buying at auction.
I wish that when I went to an auction I could win a property for the opening bid. I wish that some body could, but even if I was the only one there I still couldn't. Those incredible low prices only exist to drive traffic to the auctions.
The reason why many auctions have such low beginning bid amounts is because they have reserve amounts. Which enables them not to sell the property unless you bid the price above the predetermined acceptable price set by the seller. The only place that talks about reserve amounts is in the small print in the back of their pamphlet. In the front of the pamphlet no where I can find a mention of a reserve. I wonder why?
Did you know that if you win an auction the seller typically has seven days to accept or deny your bid? Even if you win and your bid is higher than their reserve that does not mean that you have won.
I can see that the auctions are in the favor of the seller. One of things that I hate the most is wasting my time. They make you fill out forms then make you pre-qualify to bid. If I knew my final bid really meant I won that would be different.
I believe that everyone should feel the intensity that an auction brings. I wish everyone luck and hope that you get that great deal. Keep your hand held high!
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