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| Foreclosure auctions? https://mail.karaokescenemagazine.net/forums/viewtopic.php?f=1&t=16202 |
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| Author: | BlueRose [ Thu Mar 19, 2009 6:35 am ] |
| Post subject: | Foreclosure auctions? |
[font=Verdana] I have been looking at foreclosures going up for auction online, Does anyone here on the forum have any experience with these auctions? Many have a starting bid of $500 or $1000 dollars, what do they actually sell for? [/font] |
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| Author: | Murray C [ Thu Mar 19, 2009 7:39 am ] |
| Post subject: | Re: Foreclosure auctions? |
I saw something about that on one of the Boston morning news channels last week. I recall one place that was valued at $250,000 went for around $75,000 (opening was $1000, I think). Not sure if those are the exact correct figures, but certainly places went for a lot less than their valuations. |
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| Author: | Andygurl [ Thu Mar 19, 2009 7:04 pm ] |
| Post subject: | Re: Foreclosure auctions? |
With any kind of auction, be prepared to pay cash... usually they want 10% right there & then if not more. You will more than likely be bidding against home builders/investors, ect. that want the house just as much as you. Also with auctions, they usually plant someone there to keep out bidding you just to Up the ante. |
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