Real Estate Auctions

As lender inventories of repossessed homes reaches uncomfortable levels they resort to selling the homes through auction. A few years ago there were very few of these opportunities available but with recent market declines and increases in foreclosures the auction market is in full bloom.

There are real estate auctions in many major markets and they have made the process simple to understand. Many of these also provide up to 95% financing! It is creating a huge opportunity for those who haven’t tapped into all their home’s equity. Some of these bargains have starting bids at less than 50% of the market value. They usually provide access to the home prior to the auction so make sure you take a good look at anything prior to bidding. Also, disclosures such as pest inspections, water heater disclosures, etc are available as well. Make sure the purchase guarantees clear title so you don’t have any liens on the property.

Now may be the time you want to consider upgrading your home or purchasing investment property.

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