20 Aug Bid Bid Bid
Properties that are tax delinquents often go to auctions after 3-5 years because the county needs to make back their lost revenue. Auctions are the popular venues for selling and buying properties. But why should I wait 3-5 years to buy properties when I can buy direct? Why should I still participate in auctions?
In auction sales, real property investors can earn pockets of profits with excess proceeds and redemption interest earnings. Moreover, investors like you can gather and check information of properties that you are interested in.
Prefer auction sales in the countryside. Such auctions are less competitive and rural lands are abundantly sold. While metropolitan areas bid properties at 50-80% market value, small county auctions often bid tax delinquent properties at only 10% market value. Moreover, you get to buy more cheap lands in these auctions because there are less number of investors. Real property brokers often are interested in urban properties. With the falling prices of houses upon the near U.S. economic recession, more real property brokers flocked to buy houses especially in the metropolitan.
Bring in hefty deposits in rural and online auction sales. You so you can buy a handful of property. Bring either cash or casher’s check. But always register first even if you do not plan to buy anything. Also try registering online as soon as possible. Auction personnel anyways refund most of your registration fees. They only keep a small fee, afterwards, for processing fee. You have to, at least, pay to participate. If you buy in the auction sale, they will however keep a larger fee.
So, get your bidding card and bid, bid, bid, bid, bid!
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