Archive for January, 2017

Property Auctions for Financial Fun and Profit

Friday, January 14th, 2017

Property auctions sell off land, condos, apartments, and personal storage unit property. Bidders can usually purchase the property for pennies on the dollar due to the fact that banks or other entities have seized these properties through foreclosure or other default. There is a downside, however. Most buyers purchase these properties sight unseen.

These auctions present great opportunities to purchase high quality items at low prices. Property auctions are wonderful places to buy a home, rental property, land or personal property in storage.

Storage Unit

The most popular property auction is the personal storage unit auction. These auctions occur when a renter fails to pay for their storage unit, and the storage company seizes the contents of the unit to sell, in an effort to recoup lost revenue. In other instances, the renters themselves will choose to put their items up for auction in order to make some extra money and eliminate the cost of storage.

Foreclosure Auctions

Foreclosure auctions take place when a property owner can no longer afford to make the payments and the bank forecloses on the property. When this happens, the bank or mortgage company then sells the property at auction usually for a substantially lower price that what the property is worth.

The first step when bidding on a house is to find out the average cost of neighboring homes, so you can determine if the property is being sold for a good price. You should look at more than one of the properties being auctioned. This will give you a better chance of winning a bid, should you be outbid on one.

It is best to attend at least one auction as an observer in order to find out what to expect. However, most foreclosure auctions usually require you to bring a $5000 certified check to prove that you are truly interested.

Land Auction

Another type of auction you can participate in is a land auction, usually run by the government, of which there are three types of government land auctions.

Timed auctions – These generally last for seven days, Monday through Sunday. During this time, you go online and place a bid on the property.
Live government auctions – These take place at a specific time and place and are usually announced 14 days in advance. This time allows you to check out the properties, and those not able to attend the auction to place an absentee bid.
Buy it Now properties – These are less of an auction and more of a direct sale. Buy it Now options allow you to pay a set price and receive the property without the hassle of bidding. This option is best if you want to be sure you definitely get the land you want.

While these auctions may seem overwhelming to begin with, they create an excellent opportunity to buy land, houses, or other forms of property. So whether you are looking to become a property mogul or simply a homeowner, consider property auctions.

Pat Fisher is an accomplished finish carpenter and auction-lover, who shares his knowledge and experience in http://www.finishcarpentryhelp.com and http://www.auction-know-how.com



Author: Pat Fisher
Article Source: EzineArticles.com
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Why People Prefer Online Property Auction

Monday, January 3rd, 2017

Nowadays you can see the different face of the world because of Internet. Nearly everybody needs the internet in their day to day activity. When comparing from the olden days things are going through a revolution and a drastic change because of the speed of improvement in e-commerce. By the side of strong innovation in the web planet many facilities are coming for auction a property and paying for it via online.

Thus the web service lends a helping hand to us for easy selection or shopping and preference. An individual who is paying attention towards property has to set a deposit of the tender price at the time when a housing property is placed for public sale on the internet. Depending on the proprietor of the place and on the auctioneers floor price differs.

Even though floor price differs but then also tender can be done at any price by bidder, means it can be over and higher than the base value of the assets. If in all the conditions the bidder will be able to succeed then he/she have to come across the registration fee and additional charges that come by the side of property.

When the prospective buyer go to the place & check all their concern and make a decision to go for auction that time only the entire procedures will take place. If by any chance the prospective buyer needs the loan then he can get loan to purchase the house without any difficulty and this is one more well-known benefit of the property auction through online. Online auction has more validity in the operation procedure and it will be able to provide evidence with obvious verification.

The major benefits of the property auctions via online can be listed under the following caption:

Rejection of time limits:

Tender will be able to place at any point of time in online property auction technique. Objects are planned and placed in favor of buyer so that for the exact number of days he can investigate; make a decision or bid and purchasers.

Rejection of geological boundaries:

The same auctions can take place everywhere at the same time because internet does not have any limit or border line and it has not restricted by environmental restrictions. If the sellers and purchaser have internet access then they can involve themselves from anywhere. In online auction bidder and seller need not have to be present at the place where the auction is actually taking place.

Traders are huge in number:

There are broad variety of services and products accessible through internet and it provides easy access for the users. Therefore bidders and sellers are available in large number because of its simplicity. There are several official procedures when it comes to eligible tender for the property and out of them one important process is making a prior deposit.

Andrew Wilson is a SEO copywriter for Property auctions and UK auction list. He has written many articles in various topics like Property auction, Property auctioneers, UK property auctions. For more information Contact him at andrew123seo@gmail.com



Author: Andrew V. Wilson
Article Source: EzineArticles.com
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How Online Property Auctions Work

Monday, January 3rd, 2017

The recent downturn in the property market brings with it some substantial benefits especially for those who are looking to invest in a property and are willing to put the effort in once bought to restore the property to its full potential. Property investors make their money by doing just this, buying a property that is below its current market value and taking the time, along with committing to spending the money needed, to sell it back on the open market.

Below market value property is now available to buy online through various competing companies via online property auctions. Similar to any other product auction, the product; in this case the property is submitted to auction by the seller. The auction house reviews the property, speaks to the seller and decides upon a reserve price and auction date. The property is then submitted to a pre auction.

The pre auction window is a period of time given on any property to enable the auction house to market the site and allow potential buyers to pre qualify to bid on the property in question. Once this period is over, generally 7 days, the live auction period begins and buyers nationwide get the opportunity to bid. Once the highest and final bid is agreed, solicitors are instructed, contracts are exchanged and funds are released.

The benefits of a property auction process operating entirely online allow buyers to research and bid online at their leisure and in the ease of their own home as well as providing buyers with significantly discounted property prices. A good auction house will also offer benefits such as no membership fees and clearly state what percentage of the final sale price they will deduct from the property completion.

Properties that go to auction can be sourced from professional sellers like builders, banks and estate agents as well as private individuals. The seller must agree to set the reserve price below the current market value which ensures that the property or ‘lot’ is as attractive to a potential buyer as possible. Property auctions can benefit anyone from honed property investors looking to broaden their portfolio to first time buyers increasing their chances of getting on the first rung of the property ladder.

This article was written by Tom Sangers on behalf of OPA365 who offer Online Property Auctions and a chance of Buying Investment Property



Author: Tom Sangers
Article Source: EzineArticles.com
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Bid on Properties Through Property Auctions

Monday, January 3rd, 2017

An auction is the procedure of buying and selling things by offering them up for the bid process, receiving bids, and then selling the item to the top bidder in the auction process. It is a method of determining the value of a product that has an undetermined price. There will be presence of lowest amount of bid or reserve price in reserve auctioning. If the auctioneer (one who is selling and gives the open challenge option to the bidders to quote the price) is not getting or the biding amount is not up to the mark then minimum sale is impossible. There is guarantee of sale in both no reserve and absolute auctions.

The process can be taken up openly to the general public and almost anything can be sold. Marketing of Property auction can be an immense means of selling your home as quickly as possible.

Popular types of auction for the bidders

Large composite

Tend to have greater than 100 lots. Anticipates over 300 people to be present at the venue and so it can be held in a large hotel or conference centre. The process is likely to be run by a single auction house. The nature of property may be limited to just one or may be a combination of different types.

Medium composite

Presences of lots ranging from 5 to 100 and will usually draw public between 200 to 500 people; most likely it can be hold in a hotel or conference centre. Its comparable to a large composite, only on a smaller scale basis.

Small composite

Presence of lots between 2 to 5 lots and will usually draw up to 5 bidders. The expected venue is liable to be somewhere likes in a pub, small hotel, restaurant, church or small conference room.

Some advantages of selling house through property auction are:

  • There would be Instant trade of contacts
  • Cash acquirement / grant in place – minimum 10% deposit remunerated during the bidding by the highest bidder
  • Requirement of any agreement is not important
  • Premium value is achieved through spirited bidding.
  • Market exposure – loads of auctions wield a pull on 100′s of imminent buyers.
  • Prearranged end date for biding
  • Immediate sale of property – with no compromising on sale value.

Choose the perfect auction home. This engages in selecting an auctioneer who is offering assets equivalent to yours within the corresponding cost range. Choosing an improper auction house greatly minimizes your chances of getting a positive deal for home.

The auctioneer will allege you for the commercial in brochures and catalogues, a fee that you will have to cover in spite of the consequences whether your property is sold or not. You will also be liable to compensate a payment of around 2.5 percent of the sales price. Before signing any contract, note all the operating cost that you will bind, even if your house is not sold.

Andrew Wilson is a SEO copywriter for Property Auctions and Property Auctioneers. He has written many articles in various topics like Property Auction, UK Auction List, UK Property Auctions.



Author: Andrew V. Wilson
Article Source: EzineArticles.com
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