Real Estate Auction Action - Buying A Home At Auction

by Jakob Jelling

Due in part to the popularity of the U. S. Department of Housing and Urban Development (HUD)'s home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction aren't 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 don't 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, it's possible to get a great deal in an auctioned house, with a little research and planning first. Also, know that you probably won't be able to get an inspection, and are buying the home "as is". If you can't do any needed repair work yourself, or can't hire it done within your budget, you may not end up getting such a bargain in the end. Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

Top 2 Ways To Learn About Car Auctions

by Ryan Tenney

If this doesn't get you excited, than nothing will! Car auctions are a fantastic way to save money on a car. There are a lot of ways to save money on a car that don't include insurance fraud or outright theft. Buying a new car can certainly seem like a smart decision if you can save some dollars, however car auctions are where the pros get their cars. They can generally be found in all states and happen at least once a month. The trick to buying a car is to buy it at wholesale (like a used car dealer would). Just like all auctions, there are deals to be found through just a little extra leg work. Here are 2 tips to help you in you car auction quest. 1) Use the internet to your advantage. Online resources can be a great help to people who are looking to attend their first car auction. Google the term "car auction KY" or "car auction MI" to look for local car auctions in your state. Also, if you live in a small state (like a state in the northeast), make sure and look for car auction locations in nearby states. For example, if you live in Eastern Pennsylvania, you might want to try looking for "car auctions NJ" or "car auctions NY." Often times, depending on where you live, a car auction might be happening in a nearby location that's just over the state line. 2) Look through the local classifieds section of your newspapers. Here's something that not a lot of people know. Classifieds sections of newspapers can be a tremendous resource due to the fact that a lot of bankruptcy auctions need to be listed in paper by law. This can be to your advantage because these auctions aren't the normal auctions that take place and therefore might not attract a lot of attention from potential bidders. There are a whole bunch of other tips that make these seem almost introductory. Learn them all and you could be on your way to a nice car for a low price. About the author: Ryan Tenney is author of "Top Car Auction Tips." Grab your copy at http://www.carauctionsinsider.com.

[CaRP] Can't open cache file.

[CaRP] Unable to create/open RSS cache file.

[CaRP] Failed to open file: /home/auctionp/public_html/autocache/1f5986385e9fcd032f6f03ee253b7066

[CaRP] Can't open remote newsfeed.