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Archive for February, 2017

Property Auctions for Financial Fun and Profit

Sunday, February 13th, 2017

If you’re looking for an online property auction, internet is the best source of information to find properties. Even if you’ve just started using internet, you can find property auctions online. All good auctioneers advertise their house on internet. Visiting so many websites may be difficult for people to search. The best thing that people can do is visit a website which includes a database of all the major auctioneers in the country. Online auctions are advertised in advance, like any other auction.

This is an advantage for buyers and sellers. For buyers, they can see the property and for sellers it means they can be more confident that the people bidding will value the property for its true worth. So it is important that your property is looking at its very best as it makes it far more appealing to buyers. When selling your property through an online auction you will either pay a one-off fee to the auctioneer, or a percentage of the selling price. Auctions online are a new way of selling properties through auction.

Tips to buy a property at auction:

1. Before going for an auction know your budget. There is no use going for an auction when you don’t have enough amount.

2. Before the auction date, visit the property so that you can investigate the property and find out whether it is worth the money is getting you.

3. Before buying the property do seek legal and professional advice for deeds, contracts, agreements and so on. If you seek legal advice you may face fewer problems while buying the property.

4. If you have an eye on a particular property, it is better you get a survey done. You don’t have to spend a single penny or cent of your money on repairable property.

5. Work out the payment terms in advance. If you’re definitely going to auction to buy work out the payment terms beforehand so that you go can go to the auction house calm and composed. Find out how much deposit amount you have to pay.

6. While bidding, either nod your head or raise a hand, don’t use multi signals it can confuse others.

7. Find out what insurance you may need while buying a property at auction.

Many people do not know about property auctions as it is not publicized heavily. Here are a few tips as to how you can find property auctions in or near your local area.

Browse the internet and type in property auctions and then type in area you wish to visit to attend the auction. Contact your local estate agents, real estate agents and landlords, they probably have contacts and can find out about auctions before most other people so keep ahead of the game and keep in their good books. Have a look at local and regional newspapers and find out if any property auctions are coming up in near future. Finally one more important thing is to keep your eyes and ears open, start meeting people who stay near the property to know more.

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 and UK property auctions.

Article Source: http://EzineArticles.com/?expert=Andrew_V._Wilson

A Complete Guide on Property Auction

Saturday, February 12th, 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

Article Source: http://EzineArticles.com/?expert=Pat_Fisher

Land Auctions – Ease of Use Makes Them Popular

Friday, February 11th, 2017

The internet has changed our lives forever in so many ways that you could write books upon books about it. As an example, most people don’t even go to their banks anymore and instead do all their banking online. There are people that haven’t set foot in a bank in the last decade. Then you have other scenarios that may not be as popular but also have been changed. Say for example you want to buy a piece of land. Used to be you would have to call a real estate office or visit them in person, not anymore. Nowadays there are land auctions that are available online and you can buy land from the comfort of your own home without ever contacting a real estate company.

There are many options out there for you when you are interested in buying a piece of land. You can of course still go the traditional route and talk to a company that has the experience you may lack. You will also pay for their services in one way or the other usually in closing cost fees. A land auction online is the way to go for most people. A lot of times the land has been foreclosed on and can be had for a great price.

A lot of people in the business of flipping land will use land auctions. They do this because they can get it at a reduced rate. A piece of land up for auction is no doubt a piece of land that the previous owner wants to get rid of at any price and there are more then enough people out there willing to buy it.

To get some more land auction information, please visit this link.

Article Source: http://EzineArticles.com/?expert=Becky_Angeles


How Online Property Auctions Work

Thursday, February 10th, 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

Article Source: http://EzineArticles.com/?expert=Tom_Sangers

Guidelines for Property Auction Process

Wednesday, February 9th, 2017

The activity of bidding at auction can appear to be as a daunting task, specifically if you are going for the time for such an activity. The bargain and the treasure that you are going to get over here is worth the learning curve. Once you have mastered the art of bid you’ll feel much more comfy about the entire procedure.

Once you start to go to with few property auctions, you will get in the “pulse”. And if you start to walk along/follow a particular auctioneer, then you would come to know about his/her lingo, how things are completed, and in addition to this you will become acquainted with the “regulars.”

The act of auction is more or less like a social gathering and not more than this, thus relax, have a pleasurable time, and let the bargain hunt begin!

Following are few guidelines which will help you during your property auction:

Arrive the Destination at Early Hours

Make sure that you reach the auction venue as early as possible. If you are traveling by your own vehicle then see to that you park them safely and it doesn’t block the way of other automobiles. If at any point of time you feel bored or feel that there is nothing left for you to bid then you can leave the venue without any trouble of blocked vehicles.

By reaching earlier to the venue and before the process of property auction starts, you would have plenty of time left in your hands so as to have a look on the bids that are kept on offer. Through this you would come to know, on which property you will be able to bid and on which you can’t go for.

Get Your Identification Number

Bidders who are going to take part in the process of auction are awarded an identification number which will be related to their name and personal identification, for instance a driving license number. By this way the auctioneer will award the bid which has come into your account at the end of the day.

Get Ready For the Bid Process

When the process of property auction begins, the person who acts as a “ringer” will cling on the item and then the auctioneer will illustrate its details. After this the person will start the process with an opening bid. If you are going to claim first for the bid then never open the bid with the highest amount, else go with a reasonable price.

As the bidding takes place the auctioneer will start to note down the prices that has been offered by the bidders. The highest price claimer will be awarded with the property that has fallen in his/her account.

Pay Up For the Property Awarded

As the process of bidding comes to an end, the possession of property will be awarded to the respective person, once he/she has made a down payment. If a person fails to fulfill the payment then the second largest bidder will be awarded with the claimed property.

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 and UK property auctions.

Article Source: http://EzineArticles.com/?expert=Andrew_V._Wilson

Tips To Follow While Bidding in a Property Auction!

Tuesday, February 8th, 2017

What is a property auction?

Auction, a very well known concept to all, auction is a place where you can buy or sell things or properties by bidding. Property auctions have been around for a long time now, they are gradually gaining importance as the way they buy and sell property effectively. It is a process where you can have lot of fun because it is always filled with excitement and eagerness, apart from the serious issue for which everyone is gathered there for.

Different types of properties that are auctioned.

Repossessed property:

It is a type of property, where the owner of a particular property does not pay the due on time or did not pay the due for quite some time, the property will be taken back from the owner by the lender, so this property is then auctioned, when these kind of property are auctioned, they can be taken for a lesser amount than their original value, it might be lesser than, for which the lender would have bought that property for. So don’t ever think it is an advantage for people who bid for this property. The lenders know the knack of it, they reduce the amount here and get back everything or even more in miscellaneous like administration fee, registration payment and rise in interest currently and so on.

Private sale:

General public, who are willing to sell their property, auction their property, and this is known as private sale.

Commercial property:

Commercial property is the one which are auctioned very often and this is the proper property, where auction takes place very professionally and the persons who attend commercial property auctions will all be real estate big shots who are into this seriously.

Five important tips to follow while bidding in a property auction

One: fix a budget for yourself, and then go in for an auction, without having a proper limit for yourself you won’t be able to bid effectively. First know the value of the property, fix your budget accordingly that it is just little costlier than its original value. And, if the property is 200 thousand and you if you need to do another 200 thousand of repair work and other stuff’s, believe me you will be able to sell it only for some350 thousand, so you will ultimately go in for a loss. So make sure you bid the proper amount.

Two: always have a limit for your bid and if your competitors have raised it too much and if it’s out of your limit, don’t think too much and bid for more, quietly leave it. Because it’s quite natural that you tend to immediately ask for a higher bid than the previous one, so make sure your head is on your shoulders and mind you it’s your money.

Three: go and visit the property before you go for the auction. It is always good to verify the sight before you go for a bid.

Four: read the contract terms and conditions carefully before deciding anything important and make sure you read whatever the document it may be once or twice before you sign it.

Five: go to the venue well in advance, because they give a lot of announcements in the beginning which you should not miss, because it will help you a great deal in the bidding process.

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 and UK property auctions.

Article Source: http://EzineArticles.com/?expert=Andrew_V._Wilson

Property Auctions: How to Do It Right

Monday, February 7th, 2017

You must know by now that foreclosures are very popular among real estate investors. Hundreds of investors flock to property auctions to bid on foreclosure houses that are available at big discounts. But surprisingly, even if hundreds of foreclosures are sold at auctions, there are still more than enough properties for you to choose from.

The real estate market is flooded by cheap foreclosure houses. These are properties that have been foreclosed by lenders because their owners defaulted on their mortgages. Property auctions are the final stage of the foreclosure wherein you buy these houses by giving the highest bid.

Preparing to Bid:

There are some precautionary measures that you should do before you attend an auction. Foremost is to prepare your finances for the bidding process. If you do not have enough cash, get a pre-approved loan or borrow some money from your friends or relatives. This will help you determine the amount that you can spend to buy a property. If you have set aside your budget, make sure you stick on it. Do not try to overbid another person. If you think that you have reached the limit of your budget, stop bidding and accept the reality that the property is not meant for you. What is reassuring is, there are more foreclosure properties that are placed on the market for sale every day.

Protecting Your Investment:

A foreclosure home may be the biggest investment that you will make in your life. So, protect your investment by inspecting the home before you make a bid on it. A foreclosure house may have been unoccupied for quite some time, so you cannot expect it to be in a tip-top shape. However, for it to be a good investment, it should not be in a condition that repairing it would require you to take out another loan. Get a professional opinion about the condition of the house. The fee you are going to pay for a professional home inspector is worth spending if it means buying a home that requires you to spend only a minimal amount to make it as good as new.

It is not a guarantee that you will get the house that you want at property auctions. But on the flip side, there are more good foreclosure properties to choose from out there.

Joseph B. Smith has been educating buyers on the finer points of property auctions at Foreclosure-Auction.net for over five years. Contact Joseph B. Smith through Foreclosure-Auction.net if you need help finding information about property auctions.

Article Source: http://EzineArticles.com/?expert=Joseph_B._Smith


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