Real Estate Foreclosure Guide

Real Estate Foreclosure Section


 


Social bookmarking
You like it? Share it!
socialize it

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Real-Estate-Foreclosure
Email:
First Name:


Main Real Estate Foreclosure sponsors


 

Welcome to Real Estate Foreclosure Guide

 

Real Estate Foreclosure Article

Thumbnail example For a permanent link to this article, or to bookmark it for further reading, click here.

What To Expect At Real Estate Foreclosure Auctions

from:


Real estate foreclosure auctions, sometimes referred to as sheriff sales, usually take place in a designated area in the county courthouse. Sometimes they can even take place on the steps of the county courthouse. There is nothing fancy about them. They are set up to be quick and business-like affairs with rules put in place to help expedite the process. You can expect some regulars to show up and new bidders sometimes too. They may be weekly or bi-weekly events, and can vary depending on the number of foreclosures in the area and the backlog. The listing for foreclosures are listed for people who attend the real estate foreclosure auctions on a list or they can also be researched beforehand in the local newspaper too.

How To Buy At Real Estate Foreclosure Auctions

Rules can differ from county to county, but you will be usually expected to pay some percentage of your bid upfront once you are declared the winning bid. Expect to pay at least 5% of the value of your bid. You will also need to pay the remainder of the the bid by the end of the business day. So, if you bid $100,000, you might have to pay $5,000 upfront at the end of your winning bid and the rest some time later, usually by the end of the business day.

Bankers Buy Back

The original bids will probably start out with the bank or lender who holds the mortgage bidding a nominal amount to get the process going. They may even bid against you to drive up the price to an acceptable loss for them. They certainly won't try to give away the property, even if they don't want it on their books. However, if they don't get the bids they want at the real estate foreclosure auctions, they will simply bid to buy back the house. This way they don't take a huge loss on the home.

Do Your Research Before You Go

Real estate foreclosure auctions are fast-paced and you will need to know ahead of time what property you are willing to bid on and the fair market value of it. You should have researched as much as you can about how much is owed, what the neighborhood is like, and what the condition of the home is like. You will also want to make sure you understand all any fees or liens associated with the property that you will be responsible for bringing current should you have the winning bid.

Related Articles for Real Estate Foreclosure

  • Risks Of Free Real Estate Foreclosure List ( )
  • Real Estate Seminars Foreclosure Mining ( )
  • Where To Find Real Estate Foreclosure Listings ( )
  • Deals In Vancouver Washington Real Estate Foreclosure ( )
  • TV Real Estate Foreclosure Reality Shows ( )


  • Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Deprecated: Function eregi_replace() is deprecated in /home4/marcilio/public_html/foreclosure/re-foreclosure/datas/persobanner_center.php on line 21

    Other Real Estate Foreclosure related Articles

    Mortgage Foreclosure In Real Estate
    Tv Real Estate Foreclosure
    Top Real Estate Foreclosure
    Real Estate Foreclosure Listings
    Foreclosure Real Estate

    Do you want to contribute to our site : submit your articles HERE


     

    Real Estate Foreclosure News