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Lenders have been known to hire auction companies to conduct auctions of several homes they hold in the area. Real estate agencies may be privy to this information, so you may want to contact a few in the area for this information. The local major city newspaper is a great source for this information, too. Real Estate Auction Companies - Builders will sometimes use incentives to entice real estate agents to bring potential buyers. Typically builders will give real estate agents a percentage of the sale price when they bring in a ending buyer. Some counties have websites that specify homes that will be going up for auction by the sheriff's department, including the status of the sale, scheduled sale date, time of sale, case number, lien holder, attorney for the lien holder, phone number for attorney for the lien holder, homeowner's name and other information. Just because you are the winning bidder, doesn't mean you can take immediate possession of the home. You may still have to wait for the redemption period to end before you can take possession. If the homeowner is able to redeem the home, then you've wasted time, effort and maybe even money in the process. Sheldon Good - Oftentimes, the builder will schedule a date(s) for potential homeowners to preview the home. They generally require notification and details by a certain date of those who will be viewing the home during the scheduled preview. The best agents will have practical experience in the field, as well as be willing to work hard for the company. Being in REO asset management means more access to properties then just being a standard real estate manager. If the lender agrees to the price, and often a lender representative will be on site for the auction, the buyer will need to prove they have the financial means through which to pay for the home. For those trying to purchase a home through a real estate auction, it is best to be prepared for the home sale from the time you set foot on the property. There are five things every potential buyer will need to do in order to prepare for a real estate auction. About the Author: Real Estate Auction Companies - Fortna Auctioneers & Marketing Group is a creative, innovative, people-oriented and technologically-savvy real estate auction firm. Our work consistently delivers personal satisfaction and success, resulting in mutual pride by all parties involved in the sale.
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