0
When a person thinks about foreclosure auctions, it is usually real estate and property that immediately jumps to mind. While these auctions are tremendously common in today’s economy, there are other foreclosure auctions that happen every day. Another rapidly increasing occurrence is storage unit foreclosure auctions. In fact, there is a rapidly-growing industry around storage unit foreclosures.
As rapidly as the home foreclosure rates are increasing, so are the storage unit foreclosure rates. Many storage unit companies are auctioning the contents of foreclosed storage unit renters off in public auctions. When you consider in today’s economy, that homeowners and renters are often struggling to pay rent and utilities, many times they don’t have the extra money to maintain their storage unit. Many of these units are simply abandoned because the owner cannot get back into the unit, and it’s past due.
While quite often the contents of these units are not very valuable, in some cases there are items of great value within the unit. The person who wins the auction of that unit becomes the legal owner of everything in the unit. Once the high bidder gets possession of the unit, they must move everything from the unit immediately, regardless of its value.
One of the exciting things about a storage unit foreclosure auctions is that you have no idea what you will be betting on until they cut the lock on that storage unit. You cannot enter the storage unit. Everyone bidding can stand outside and looked in during the bidding process. You may or may not have a lot of competition and if you’re very lucky you could go home with a treasure. As the foreclosure auctions of storage units continues to increase in number, more of these treasures will be available. As homeowners are being foreclosed on and moving into apartments and smaller, less-expensive dwellings, they often put excess furniture, artwork, electronic equipment and the like in storage. Bidding on these units could definitely land you a treasure, as items like pickup trucks, boats, flat screen TVs and other valuables have been stored in storage units in storage units.
So, with a small cash investment and a bit of sweaty work moving the items out of the storage unit, you could find a treasure trove.
What else can I help you with?
Do banks or homeowners have foreclosure auctions?
Lenders will occasionally have foreclosure auctions. Homeowners will often sell their property to avoid foreclosure.
Where can I find information on a foreclosure auction online?
You can find information about foreclosure auctions online by visiting www.auctions.com.
Where would a foreclosure auction be held?
Most foreclosure auctions are held by the county, where the home or property is located. These auctions are generally held in county courthouses, which post the auctions in newspapers, and are also posted in the county courthouse buildings themselves.
How can I find upcoming Foreclosure Auctions?
This information can be obtain through the local newspaper or the county courthouse.
What website For Government foreclosure Tax Sales?
You might start here; http://www.ustreas.gov/auctions/irs/
How do you buy foreclosed properties?
Banks and Lending Institutions hold auctions of foreclosed homes. Check for auctions in your area. There are several ways to do this. Check the Legal Advertisements section of local newspapers to find out which properties are in foreclosure or about to be auctioned off after foreclosure. If foreclosure has not gone through, you might be able to buy the property right from the owner. Sometimes an owner gives the lender a deed in lieu of foreclosure so that the lender takes title without foreclosure. You can then buy from the lender itself. Many foreclosures are auctioned off by the local sheriff or similar public official. You can find out about those auctions either through newspapers, the lenders or the offices of the government official that will conduct the auction. There will be rules governing such auctions, so check with that official's office.
How can I find house auctions?
You can find house auctions by checking online auction websites, contacting local real estate agents, attending foreclosure auctions at the courthouse, or searching for auction listings in newspapers or real estate publications.
What does the real estate foreclosure action determine?
Just like other real estate auctions, it is also a normal auction. When the borrower didn't pay a bank loan then the bank sends a notice to him to pay EMI's within 60 days, but if he didn't pay then the bank seizes his property. banknilami also runs auctions daily on their portal for properties in India.
Can I really buy cheap houses at a foreclosure auction?
Foreclosure auctions are some of the best places to buy cheap houses. Normally the bank is just trying to get their money back and is willing to sell the house pennies on the dollar so you can end up getting a bargain
Where could one find information about foreclosure auctions in the area?
One can information about foreclosures auctions in own area from law offices and financial consulting institutions. One can also use online services like Realty Trac, Property Radar and Real Estate.
How can you write your own Foreclosure list?
To create your own foreclosure list, you can start by researching online for properties in foreclosure. Look for legal notices in local newspapers, check government websites, or visit the county clerk's office to find information on upcoming auctions. You can also consider working with a real estate agent who specializes in distressed properties to help you compile a list of potential foreclosure opportunities.
Where can one find real estate auctions online?
First you could use the Web to buy books. Now your computer's "return" key has become your bidding paddle for real-estate auctions, too. An increasing number of Americans just like you are finding opportunities in the world of online foreclosure auctions.
