Real Estate Auction Companies - Purchase A Home Through A Real Estate Auction

When walking through the home before the auction begins. Take a few pictures of any and all blemishes in the home.

Florida, FL (prHWY.com) September 30, 2012 - Florida, Sep 30, 2012 - When walking through the home before the auction begins. Take a few pictures of any and all blemishes in the home. Make sure to look beyond the physical knick and scratches on the homes surface. With camera in hand, you are looking for things that may potentially cost many dollars to fix, not just a coat of paint.

Lenders have been known to hire auction companies to conduct auctions of several homes they hold in the area. Real estate agencies may be privy to this information, so you may want to contact a few in the area for this information. The local major city newspaper is a great source for this information, too.

Real Estate Auction Companies - You may also check out with local builders, or get in touch with some of the real estate agencies in your area. Builders will sometimes use incentives to entice real estate agents to bring potential buyers. Typically builders will give real estate agents a percentage of the sale price when they bring in a ending buyer.

Some counties have websites that specify homes that will be going up for auction by the sheriff's department, including the status of the sale, scheduled sale date, time of sale, case number, lien holder, attorney for the lien holder, phone number for attorney for the lien holder, homeowner's name and other information.

Note the case number and call the civil department of the courthouse. A clerk in the civil division will be able to tell you the address of the property. Now, you need to contact the Registrar of Deeds and talk to a clerk there. The clerk will be able to tell you the details about the home, such as the date it was built.

Just because you are the winning bidder, doesn't mean you can take immediate possession of the home. You may still have to wait for the redemption period to end before you can take possession. If the homeowner is able to redeem the home, then you've wasted time, effort and maybe even money in the process.

Oftentimes, the builder will schedule a date(s) for potential homeowners to preview the home. They generally require notification and details by a certain date of those who will be viewing the home during the scheduled preview.

Sheldon Good - The lender is in complete control of the home title and can choose whether or not to accept the highest bid during the auction. If the lender does not accept the bid, the auction will be for naught and the lender will retain ownership of the piece of real estate despite the auction.

For those trying to purchase a home through a real estate auction, it is best to be prepared for the home sale from the time you set foot on the property. There are five things every potential buyer will need to do in order to prepare for a real estate auction.

Many real estate auctions will require the home buyer to present some form of deposit or proof of lender approval at the time of sale. If the lender agrees to the price, and often a lender representative will be on site for the auction, the buyer will need to prove they have the financial means through which to pay for the home. The initial deposit required or proof of immediate lender approval is always a great item to have on hand.


About the Author:
Real Estate Auction Companies - Fortna Auctioneers & Marketing Group is a creative, innovative, people-oriented and technologically-savvy real estate auction firm. Our work consistently delivers personal satisfaction and success, resulting in mutual pride by all parties involved in the sale.

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Contact Details:
Fortna Auctioneers & Marketing Group
26 E. Main Street * Annville, PA 17003
Phone: 717.867.4451
E-mail: auctions@fortnaauctioneers.com

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