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  • Real estate auction action - Buying a home at auction
    Author: Jakob Jelling
    Due in part to the popularity of the U. S. Department of Housing and Urban Development (HUD)'s home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction aren't limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com!

    Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner.

    Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc.

    At the auction itself, resist the temptation to get into a personal bidding war, just "to beat out the other guy". Have a set price limit and stick to it. Other houses will come along, and you don't have to win the first auction that comes your way.

    You should know that the price of a home at auction is typically the loan balance (if foreclosed), plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, it's possible to get a great deal in an auctioned house, with a little research and planning first.

    Also, know that you probably won't be able to get an inspection, and are buying the home "as is". If you can't do any needed repair work yourself, or can't hire it done within your budget, you may not end up getting such a bargain in the end.

    About the Author

    Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

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    TechBlowouts.com

    More sites that feature surplus government property

    1. Government Surplus Auction Online
    ... Car Truck Sale Government Surplus Auction Car Deals Florida ... Used Car Car Audio Auctions Government Auction Vehicle Buy New Car ... Car auction Car Auction Texas Property Auction Drag Car For sale ...
    http://www.cheapcarfinder ...-surplus-auction.html


    2. GSA FSS Heartland Property Home
    ... GSA). GSA sells used Government surplus property for civilian (non-military) Federal agencies in the Heartland/Great Lakes Region of the United States. The states we cover are Illinois, Indiana, Iowa ...
    http://sales.gsa.gov/


    3. auctionsPASS Government Auctions - Seized, Surplus, and Unclaimed Cars and P...
    ... Bid on seized and unclaimed cars and property auctioned off on behalf of government and police agencies. Seized Cars All makes and models, cars, SUV's, trucks and more auctioned up to 90% off the ...
    http://www.auctionspass.com/


    4. government auction - articles in CAIR.INFO
    ... gov Official site for information on all sales and auctions of government surplus property and assets. www.firstgov.gov Car Auction - Used Car Auctions and online government auction ... auction car ...
    http://cair.info/s-government-auction.html


    5. Government Surplus Auction / Government Surplus Auctions
    ... website. Look no further for property seized by police and government agencies. We are the one-stop shop for auctions by governments. From items such as seized bank assets, bankruptcies, financial ...
    http://www.auctionpublications.com/


    6. surplus government property
    surplus government property Government Deals Power Tip! If you have won a government auction, congratulations! Be prepared, though, to load any auction winnings by yourself. Government employees will ...
    http://www.government-dea ...ernment-property.html


    7. Surplus Property Office Federal Surplus
    ... them. They share the common purpose of providing a central state location for disposing of government surplus property by first attempting to reuse the property in another government setting and only ...
    http://www.scsurplusproperty.com/SP-federal.phtm


    8. How-2Buy-Foreclosures.com » Real Estate for Sale from Government Surpl...
    ... & FirstGov.gov Sales and Auctions: Government Surplus & Foreclosed Real Estate for Sale Buy real ... ... Estate Library & Bank foreclosures and government property listings. Includes address, price ...
    http://how-2buy-foreclosu ...plus-foreclosures-on/


    9. Isn't Charitable Choice Government-Funded Discrimination?
    ... n.22 (1982), plaintiffs challenged as violative of the Establishment Clause the transfer of government surplus property to a religious college. The U.S. Supreme Court rebuffed all asserted bases of ...
    http://www.cpjustice.org/stories/storyreader$375


    10.
    ... cars for sale, military surplus, government surplus, souvenirs, nonprofit, gifts, government publications, government assets, seized property Skip to Main ContentSkip to Government SearchSkip ...
    http://www.dempro.org/216 ..._surplus_auction.html


    11. How to buy surplus Government property
    ... DOD Surplus, PO Box 1370, Battle Creek, MI 49016. Do you want to buy Government property? If you ... ... of U.S. Government-owned real estate and surplus property generated by most federal agencies is the ...
    http://www.cashwonders.com/buysurplus.html


    12. Largest Online Auction directory - Government
    ... Government Total:6 Displaying: 1 - 6 Defense Reutilization and Marketing Service Offers government surplus property. http://www.drms.dla.mil/ Federal Communications Commission Auction Features ...
    http://www.directoryauction.com/government


    13. Government Surplus Auctions
    ... Federal Government Surplus Property Auctions. Federal Government Real Estate Auctions ... GSA AuctionsÆ, General Services Administration, Government Site for Auctions NOTE: You don't have JAVASCRIPT ...
    http://www.auctionhunt.co ...ment Surplus Auctions


    14. Government seized auction - GovAssets4sale - The Marketplace For Government ...
    ... GovAssets4sale - The Marketplace For Government Surplus Law Enforcement Seized Property Auctions ! Police Auctions - Sheriffs Sales - Government Seized Property. Comply with State Law for Government ...
    http://pittsburgh-footbal ...rnment-seized-auction


    15. Texas Governor Rick Perry - Resources By Area
    ... U.S. Government surplus property. Defenselink - Links to most federal defense agency and program information. Department of Veteranís Affairs - Information on veteranís programs from the federal ...
    http://www.governor.state .../resourcesbyarea/view


    16. Us Government Auction Surplus Property Government Auction
    Us Government Auction Surplus Property Government Auction FireRocket Search Related Searches auction nottingham property real property auction Search results for "us government auction surplus ...
    http://www.greyauction.co ...y-government-auction/


    17. For any kind of government information, from student loans to Social Securit...
    ... For any kind of government information, from student loans to Social Security benefits to buying surplus government property, 1 3.75 in. 10.5 in. C A M P B E L L - E W A L D E4-FZ-N-0028 C Newspaper ...
    http://www.khang.com/bank ...udent-loans-8c4d9.php


    18. Seized Electronics and Government Surplus Auctions
    http://www.mpeg3.org/news/mp3/mp3_617.php


    19. Blackjack Craps Casino Poker Roulette Bodybuilding Weightlifting Speeding Ti...
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    20. Government surplus auction, auction canadian government surplus, auction gov...
    ... fleet trades and more. Also bid on boats, property and more. Auctions held in 50 states. Buy ... ... To Look Around. Find the Best Sites For government surplus auction With Starware Starware search is ...
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    21. government surplus kitchen equipment
    ... Services ... for Government Entities ... Surplus will host a miscellaneous property auction Saturday ... ... to purchase new equipment, you may be able to acquire donated federal government surplus property ...
    http://www.1st-restaurant ...itchen-equipment.html


    22. The Government per diem with st marys county government and government surpl...
    ... unclaimed government money | government seized property | government and enterprise review tool ... ... in ottawa | fairfax county government | government surplus auction | ancient greek government ...
    http://government-per-diem.tellima.com/


    23. GAP 200.125: University, Medical Center and Government Surplus Property
    ... 200.125 University, Medical Center and Government Surplus Property I. General II. Procedures Print This GAP I. GENERAL The Duke Surplus Store is responsible for disposing of all material, equipment ...
    http://www.finsvc.duke.edu/gap/m200-125.html


    24. Government - Surplus Donations
    You are here: Home ª Government ª Surplus Donations Surplus ... which has been declared surplus by City Council. This is ... organizations agree to accept property "as-is". Any equipment on ...
    http://www.wilsonnc.org/Government/surplus.asp


    25. The Ancient greek government with government surplus auction and government ...
    ... Government surplus auctions door county wisconsin government government property for sale review enterprise government tool new mexico government loans sarasota county government government auctions ...
    http://ancient-greek-government.tellima.com/


    26. Buy Surplus Government Land -- Free Online Information
    ... by "Jason's Tip for the Day" <jjblake@[EMAIL PROTECTED] > Sep 6, 2005 at 03:38 PM Government Surplus Property Auctions and Land Sales -- A Free Online Guide While the Federal Homestead Act is no ...
    http://www.talkaboutpets. ...s/messages/11064.html


    27. Florida Monitor: Decentralized Surplus Property - Government Support Publication
    The Florida Legislature Office of Program Policy Analysis and Government Accountability Review of Decentralized Surplus Property Activities, Report No. 95-40, February 1996 Full report in PDF format ...
    http://www.oppaga.state.f ...rts/govt/r95-40s.html


    28. SHG's Gateway to Official US Government Resources!
    ... U.S. government one-stop-shop Internet clearing site for information on the public sale/auction of billions of dollars each year of surplus government property and other government assets, and (2 ...
    http://www.shgresources.com/us/gateways/


    29. Government Surplus 4 - Outdoor Gear
    ... you choose to use Second Day or Next Dayï Government Surplus 4 - Discount Outdoor Gear ^Reproduction ... ... situations. Now you can easily monitor your property. Record thieves in the act with a simple VCR ...
    http://www.cool-brands.co ...rnment-Surplus-44.htm


    30. Government Surplus Auction - Government Seized Vehicles From $100
    ... new, seized and surplus merchandise from the government. ... of Government Property. Auction ... ... Vehicle Auction. USPS Surplus & Abandoned Property Auctions. Recent Government Auction Sale Prices ...
    http://www.seizecars.com/ ...-surplus-auction.html


    31. GovernmentAuctions.org -- Government Auctions & Bank Foreclosures -- All in One!
    ... Federal Government Surplus Property Auctions Listed by State / Territory INSTRUCTIONS: Please click on your state or territory to see the list of federal government surplus property auctions and ...
    http://www.governmentauct ...org/FreeBySurplus.asp


    32. Business groups urge state to cut property taxes - The Business Journal of Phoenix:
    ... state to cut property taxes - The Business ...
    http://phoenix.bizjournal ...06/05/22/daily42.html


    33. Category: Surplus government property | Congress votes database | washington...
    Category: Surplus government property Bills 109th Congress Bill Title H R 1815 To authorize appropriations for fiscal year 2006 for military activities of the Department of Defense, for military ...
    http://projects.washingto ...-government-property/


    34. Government Surplus Auctions - Ask.com UK Search
    ... Ex Military Vehicle Sales Auctions Police Cars Seized Goods Auctions More ª Lost Property Auctions Government Surplus Websites Hm Customs And Excise Auctions Surplus Wholesale Surplus Government ...
    http://www.uk.ask.com/web ...ment Surplus Auctions


    35. Property From Federal Government Auctions
    ... STATE UNCLAIMED PROPERTY: Tools and Other Merchandise & Property From Federal Government Auctions to see the list of federal government surplus property auctions and sales government home foreclosure ...
    http://www.uconnforums.co ...vernment-auctions.htm


    36. Government Surplus Property
    Government Surplus Property FireRocket Search Related Searches city property real surplus gsa surplus property washington surplus property canadian property seize surplus state of california surplus ...
    http://www.surplus3.com/g ...ent-surplus-property/


    37. The Government surplus auction with government per diem rates and fairfax co...
    Government surplus auction and the government per diem rates st marys county government | government ... ... rates | unclaimed government money | government seized property | government and enterprise review ...
    http://government-surplus-auction.tellima.com/


    38. Seized And Surplus Auctions Government Property Sales
    Seized And Surplus Auctions Government Property Sales Top Seized And Surplus Auctions Government Property Sales Resources Recommended: eBay Founded in September 1995, eBay is The World's Online ...
    http://www.best-for-aucti ...t-property-sales.html


    39.
    ... Government Surplus Real Estate - Vandema Property Disposal manages the use and disposal of U.S ... ... Government surplus real property. Government Auctions Guide - Government Auctions & Police Auctions ...
    http://www.resourcerefere ...vernment-surplus.html


    40. CMS: Press Release: Illinois residents can purchase State governmentís surpl...
    http://www2.state.il.us/c ... property on March 22


    41. WAIS Document Retrieval
    ... 405 How does a Participant obtain Federal Government surplus property? Contractual Assistance 124.501 What general provisions apply to the award of 8(a) contracts? 124.502 How does an agency offer a ...
    http://www.sba.gov/library/cfrs/13cfr124.html


    42. surplus liquidation auction computer overstock products wholesale price disc...
    ... an Affiliate Our Memberships Case Studies Customer: State of Georgia Merchandise: State Government Surplus Property The Challenge: This State Agency for Surplus Property regularly comes across a variety ...
    http://www.governmentliqu ...eStudies/georgia.html


    43. Government Sales and Auctions: FirstGov.gov
    ... Auctions Buy new, seized, and surplus merchandise from the government. Some items are available ... ... Real Estate for Sale Homes, commercial property, land ... Sales by Agency Find a particular ...
    http://www.firstgov.gov/shopping/shopping.shtml


    44. Us Government Surplus Auction - find the best online auctions with us using ...
    ... Continue Reading) Information on Government Sales and Auctions Information on government sales and auctions of seized and surplus property. Includes both personal merchandis, real estate, securities ...
    http://www.spectrumauctio ...-surplus-auction.html


    45. Freeware Educational software: Government Surplus and Auction Listings
    ... Software Type: Freeware Software Price: $0 Software Description: Current listing of Government Surplus Property and Auctions. Auctions and sales in all 50 States. Company Web Site: http ...
    http://www.intelinews.ro/QSDET13513.htm


    46. Government Surplus Trucks - Dedicated to providing objective political and g...
    ... Government Surplus Property Very cheap cars. Surplus by Dept. of Defense. Other auctions for cars, houses, trucks are being held in your area. Free ... http://www.1st-bank-forec ...arch/foreclosure ...
    http://www.johngraham4con ...ernmentsurplustrucks/


    47. Government, federal government jobs, government surplus
    ... surplus, texas state government Government surplus Washington dc government Federal government ... ... services Us government printing Government documents ... property ...find an Oregon state law/rule ...
    http://www.wushulink.com/government.html


    48. Office of Property Disposal
    ... for sale? GSA sells surplus personal property including automobiles through the Federal Supply Service Property Management Division where they sell Surplus Government property other than Real Estate ...
    http://propertydisposal.gsa.gov/Property/FAQ/


    49. Surplus Federal Property: It's Time to Sell
    site map | help | contact us The Heritage Foundation > Research > Government Reform > Surplus Federal Property: It's Time to Sell Policy Archive: view by date Policy Archive: view by issue ...
    http://www.heritage.org/R ...nmentReform/bg187.cfm


    50. Federal Surplus Property Agency
    ... When FSP initially received the crane as surplus government property, it only had 41 hours of use. Batteries were installed and, on the second try, it ìfired up.î Once the crane is assembled and ...
    http://dwe.arkansas.gov/FSP/News.htm

     

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