Archive for the ‘Buyers’ Category
While foreclosures vary in regulations and procedures compared to privately-owned homes, buying one doesn’t have to be as scary as a trip to a haunted house. There are many advantages to buying a foreclosed home, and knowing the process is key.
A foreclosure is the process of taking possession of a mortgage property because of someone’s failure to keep up with mortgage payments. This is termed as “defaulting” on a mortgage. It can be a lengthy process and specifics vary from state to state. If the default is not resolved by the allotted deadline, the lender then sets a date for the home to be sold at a foreclosure auction. At this auction, the home is sold to the highest bidder for cash payment. If a third party does not purchase the property at the foreclosure auction, the lender takes ownership of the property, and it becomes a bank-owned or real estate-owned (REO) property. Read the rest of this entry »
Buyers and sellers alike are most often drawn to live, open-outcry auctions in real estate. Who doesn’t love the excitement of a fast-talking auctioneer and a competitive crowd angling for the winning bid of a much-coveted property? Our recent survey showed that once again, this type of auction ranked number one as the most successful among our clients in selling a property. Although this appears to be the norm, Sealed Bid auctions are starting to make more noise in the industry. While the Sealed Bid auction rated in last place under most successful auction type, this option comes with many benefits when dealing with specific sales. Read the rest of this entry »
Once again, we conducted our Annual Survey and polled real estate auctioneers nationwide this past January. Our clients provided answers to a range of questions about industry activity in 2012 and their projections for 2013.
Topics covered in our survey:
Single family homes, condominiums and coops were the most common type of residential property brought to auction as reported by our auctioneers.
For more charts and numbers download our annual survey of the real estate auction industry
Auctioneers were asked to provide us with the most common commercial property type brought to auction – this time Industrial/Warehouse and Agricultural ranked number one. Read the rest of this entry »
Check out our post on Business Insider !
Take a look at Williams & Williams’ 5.22-acre lot in Carson City, Nevada. This property boasts breathtaking views of Slide Mountain and Washoe Lake, presenting the winning bidder with the ideal place for a vacation getaway or tranquil year-round home. PA is picking this one for its location that offers the best of both worlds, surrounded by nature’s finest and only a short drive from major cities such as Lake Tahoe and Reno. Auction date is December 19th.http://www.williamsauction.com/property-auctions/4805-freckles-ct/328703 Read the rest of this entry »