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Real Estate Auction Action - Buying A Home At AuctionJakob Jelling Due in part to the popularity of the U. S. Department of Housing and Urban Development HUDs home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction arent limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com! Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner. Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc. At the auction itself, resist the temptation to get into a personal bidding war, just "to beat out the other guy". Have a set price limit and stick to it. Other houses will come along, and you dont have to win the first auction that comes your way. You should know that the price of a home at auction is typically the loan balance if foreclosed, plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, its possible to get a great deal in an auctioned house, with a little research and planning first. Also, know that you probably wont be able to get an inspection, and are buying the home "as is". If you cant do any needed repair work yourself, or cant hire it done within your budget, you may not end up getting such a bargain in the end.
| | | | RELATED ARTICLES Search Engine monopoly Ever wondered how one search engine is dominating the entire web. In any business, you have so much stiff competition. Is there any business that you can start that has no competitionWhether you decide to open a restaurant or a real estate company - you are going to have a lot of competition. And picture the competition that you will have - you will have 100s or probably 1000 other people doing the same business. But in search engine competition, you can probably count in your fingers as to how many search engines there are. But still people are hesitant to go into this field. Linking is Queen If content is king, then linking is the queen that shares his throne. We have all heard about adding content to your site to give the search engines fodder to consume. But the secret to luring the search engines is the links to your site. Todays search engines look very carefully and critically at who is linking to you, and what it is that they are saying about you. A link from a leader in your industry carries a lot of weight and means that your site is important. Two links from industry leaders means your site is even more important. 100 links from random web sites, from industries you are not even related with, means almost nothing. Thus, getting links is only the start; the important thing is getting good links from quality web sites. Disaster Decision - Do You Need Insurance The expenses involved with owning a home can be overwhelming at times - routine maintenance, repairs, seasonal preparations, improvements. Not to mention taxes, fees, and all those monthly bills. Some homeowners, in trying to reduce their expenses, wonder if they really need disaster insurance. Preparing for Tax Preparation Being prepared for your tax appointment can really pay off in terms of maximizing deductions and minimizing tax as well as lowering fees charged by your preparer! Additionally, you should be able to walk away from your tax appointment with peace of mind that your returns are complete and accurate and maybe even with some tax savings advice that you can really use. Small Business Tax Tips - Product Review of Tax Reduction Toolkit Product Review – IntroductionProduct Review – What I likedProduct Review – What I didn’t likeProduct Review – Best Features SummaryTable of Contents – Seven Sections – 29 Tax TipsFinal Comments and Pricing under $40Suggested Books & Reference URLsPreview the ‘Tax Reduction Toolkit’ at: http://www.yousaveontaxes.com/toolkit.htmlhop=msbjcoc What is Vastu Shastra Vastu is the oldest and most complete system of architecture in the world. The reason for its recent interest in the U.S. is that Americans are demanding a better quality of life. There’s a greater awareness now that our physical environment does affect the quality of our life. The effect of our environment can make us feel peaceful or stressful. There is a great deal of stress and pressure on people these days. The pace of life is so fast. Modern architecture only addresses function, comfort and aesthetics. The aim of Vastu is to create a peaceful, healing environment that supports growth and protects from non-life supporting influences, pollution and geopathic stress. Make Your Sports Viewing More Fun and Interesting! Many years ago when I started betting on sports, I never imagined that ten years on I would be betting and trading for a living. Tax Assessment/Appraisal: How Do I Know What My Home is Worth If you are in the home buying or selling market, it’s important to understand the difference between tax assessment and appraisal value. Concentrate on the appraisal value because this determines your asking price. Wealth And Your Net Worth Wealth and Your Net Worth by C.C. Collins http://networthpublishing.com How To Give Your Home A Face-Lift: The Sellers Guide To A Quick Sell One of the great challenges to selling a home can be showing all of its space, decor and natural light potential.For example, every home has crowded closets and dead space.Sellers should be aware that areas such as these are easy to spruce-up with a little elbow grease and old-fashioned innovation. Wire Transfers: The Easiest Way To Send Money In the past, if you wanted to send money electronically through a wire transfer you only had a few options available to you. You could go to your local bank to conduct the transfer, or you could use the services of a company such as Western Union. But nowadays more and more companies are set up to provide wire transfer services, especially online. Companies such as PayPal, for example, allow almost anyone to send money worldwide through their website – and all you need is an e-mail address and a credit card. In addition, most local banks that provide online banking services now allow their patrons to send wire transfers through the Internet. How Long Your Mortgage Runs Determines How Much You Pay The first thing most of us think about when the time comes to take out a mortgage on a new home is the interest rate. What To Expect In Closing Costs On A Home Purchase Many are taking advantage of this year’s low mortgage rates to purchase a home. Pent up with excitement, many families, who have scrimped and saved for a down-payment, jump for joy when the mortgage lender finally approves their application.But, they should realize that there’s a whole new set of expenses that must be covered before actually closing on the sale. Building Your Online Portfolio So you want to start earning online and have invested some of your hard earned cash in a couple of online programs but have you really thought about what you are investing in. Real Estate Marketing for the “You” Generation Are you working in the real estate industry Are you a real estate agent, mortgage consultant, builder, real estate broker, appraiser, construction worker, etc A Time-Saving Programming Tactic that Doesn’t Work Let’s say that you have a software project that’s under severe time pressure.Let’s say that this deadline is so tight that you already know it will involve many late nights of black coffee and frenetic programming.What can you do to make this process go faster More Business for Sellers, Builders Many of us thought that by now the real estate market’s favor would have swung from buyers to sellers, but that does not appear to be the case.With summer coming to a close, some would argue that a solid home buyer in today’s flat real estate market is the commodity of choice. Understanding Bridging Finance Bridging finance, also referred to as "bridge loans" and "bridging loans", have nothing at all to do with re-constructing the London Bridge. Bridging finance is typically a short-term loan that a business uses to supply cash for a real estate transaction until permanent financing can be arranged. The word "bridge" conveys the fact that the loan is designed to get you over a temporary obstacle. A typical use for a bridge loan is to cover situations such as when a company needs to close on a new office building before having sold their old one. They would use the proceeds of the bridge loan to continue making payments on the old building until it is sold. Increase Your Page Rank Through SEO Search Engine Optimization SEO must be considered a process and over time you can build your ranking and traffic. Preventing Foreclosure Proceedings and Understanding Your Options Every year over 8 million homeowners are seeking help preventing foreclosure proceedings. This is a stunning 30 year high. Experts project that by 2006, 12 million homeowners will be teetering on the brink of foreclosure. Many homeowners are not aware that the can prevent foreclosure and save their house. Did you know that you can’t stop the proceedings up to an hour before the auction takes place |
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