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.

How To Make MORE Money After Your Auction Is Over!

by Karol Gajda

***************************************************************** How To Make MORE Money After Your Auction Is Over! ***************************************************************** Here's the scenario: You just sold a widget for $15.78. It cost you $8. Not too bad a profit, huh? But wouldn't you like to at least try to make a little bit more? If your auction business is running on very tight margins, then even getting an extra 10 cents per auction could do wonders for you, am I right? One of the ways to add a bit of cha-ching to your auction business (the other ways will be written about in the future) is the following: In my end of auction e-mail I include an affiliate link to a Web site, or to one of my own Web sites. What do I mean? Well, let's say it was me who just sold the $15.78 widget. After the auction is over I send the winning bidder an e-mail congratulating him or her on their win and explaining to them how to proceed with payment. But right in the middle of the e-mail I include a little money maker that looks like this: ----------------------------------------------------------------- Looking for products to sell on eBay?! Look no further than the Drop Ship Source Directory. Find thousands upon thousands of awesome products...and you don't have to pay for them until you make a sale! Click here for more information: http://www.freeauctionprofits.com/cgi-bin racker.cgi?dsnews ----------------------------------------------------------------- See how easy that was? Now if somebody purchases a membership to the Drop Ship Source Directory I get paid without barely having to do a thing! *Side note: The Drop Ship Source Directory is an awesome affiliate program to join, and it's free. You make over $17 per sale! And you also get paid for sales your affiliates make. My recommendation is to pick 1 affiliate program and stick with it for a few months. If it's not working out for you, choose another. If that one's not working, choose another, and so on. *Free Auction Profits has a great 50% affiliate program at http://www.freeauctionprofits.com/affiliates.html hint, hint :) Where do you find these affiliate programs to join? My favorite are: eBooks from Clickbank.com: http://www.freeauctionprofits.com/cgi-bin racker.cgi?cbanknews Drop Ship Source Directory: http://www.freeauctionprofits.com/cgi-bin racker.cgi?dsnews Commission Junction: http://www.cj.com These are all free to join, and there's tons of money to be made with them. I'll share more of my favorite affiliate programs in the future. For now, this should be enough for you to experiment with. One last recommendation I have on affiliate programs: I don't promote anything I haven't purchased and benefited from myself. You might want to do the same so you know you're promoting a quality product. Until next time, Karol Gajda ***************************************************************** Karol Gajda is an eBay fanatic. His eBook Free Auction Profits, which is available at http://www.freeauctionprofits.com, shows simple ways to obtain free merchandise to sell on eBay. To subscribe to his newsletter "Auction Profits" send a blank e-mail to: mailto:list@freeauctionprofits.com ***************************************************************** About the Author ***************************************************************** Karol Gajda is an eBay fanatic. His eBook Free Auction Profits, which is available at http://www.freeauctionprofits.com, shows simple ways to obtain free merchandise to sell on eBay. To subscribe to his newsletter "Auction Profits" send a blank e-mail to: mailto:list@freeauctionprofits.com *****************************************************************

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