Foreclosure Real Estate Auctions (atlanta, georgia):
Are you an investor looking to take advantage of the foreclosure market? If so then consider me as your agent when bidding on properties in Atlanta, Georgia. Hudson & Marshall and auction.com are among the top few companies in real estate auction firms, specializing in foreclosure listings. With home auctions held almost every weekend we can help you find the home or investment property you’ve been looking for. Foreclosure properties offered by these auction companies often sell at or below market value and close within 30 days.
These fast paced auctions can be emotional and intimidating. Having a Real Estate Professional represent you at the auction is FREE of charge and you will not have additional costs on your purchase. To be notified of upcoming real estate auctions in your area please email me at: email@example.com and I will send you a complete schedule for the calendar year.
Auction Companies that I recommend:
Hudson & Marshall
Williams and Williams Auction Co.
* Are you an out of state buyer? Don't worry, I can bid on your behalf!
Frequently Asked Questions (FAQ):
Q: Do I have to make a down payment at the auction?
A: You are required to place earnest money on the contract at auction in the form of certified funds. The exact amount of earnest money required varies by each home auction. Please refer to the Terms & Conditions of the auction for the amount of required funds.
Q: I am out of state, can I have my local agent in Georgia bid on the real estate for me?
A: Yes, with the proper forms your foreclosure agent, Steven Kubon can bid on your behalf.
Q: Is my deposit refundable if I change my mind after the sale and decide not to buy the property?
A: No. If a buyer does not close for any reason on or before the closing date, the initial deposit may be forfeited.
Q: Can anyone attend a real estate auction?
A: Yes! All auctions are open to the public.
Q: I've never attended a real estate auction; how does the process work?
A: Buying real estate at auction is a very simple process. However, it is important for you to be informed and prepared prior to auction day. You should inspect the property prior to bidding on the property during one of the scheduled preview dates.
Q: What are the advantages of buying real estate at auction?
A: Buying real estate at auction allows you to experience a quick purchase and closing, eliminates lengthy negotiations, and provides the assurance the price paid was market value.
Q: Why are properties sold at auction?
A: Owners make a business decision to sell property in a one-day sale rather than continuing to incur carrying costs. Sellers are motivated to sell and offer you an opportunity to purchase desirable property at the best price.
Q: How do I inspect the property?
A: Contract your Realtor, Steven D. Kubon at: 678.665.0365 or firstname.lastname@example.org
Q: Are there any back taxes or liens against the property?
A: There are no back taxes or liens against the properties. Each property will be conveyed by special warranty deed, and title insurance is provided by the Seller.
Q: Can I use a broker?
A: Yes, we encourage all bidders to be repersented by a Realtor with auction experience.
Q: What do I need to do to register for the real estate auction?
A: Registration is free and can be done at the registration table on auction day. You MUST register with a valid ID (Driver’s License) on auction day and receive a Bidder Card in order to bid. If you are the highest bidder for a property you will be required to make an earnest money deposit on auction day, a portion of which must be cash or certified funds.
Q: What is the minimum bid?
A: The audience begins the bidding so there are no set minimum bids. The final sale price for each property is subject to approval by the seller. In some cases, the sellers are present at the auction to make an immediate decision. Recently, over 70,000 properties have been offered in similar auctions. Unless the properties are offered “absolute”, the seller reserves the right to accept, reject or counter the final bid!
Q: Is the amount I bid the total price I will pay?
A: A Buyer's Premium will be added to your bid. The premium is a percentage amount (typically 5%) paid by the buyer and added to the highest successful bid to determine the final contract price.
Q: Is financing available?
A: Some auctions have financing available while others do not. See the specific auction details to determine the availability for the auction you are attending.
Q: Can I buy more than one property?
A: Yes. You just need to bring and present a separate cashier’s check for each property you intend to purchase.
Q: To whom do I talk to if I don't understand the auction contract?
A: It is very important for auction buyers to be educated and informed regarding the real estate auction process. Make sure all your questions and concerns are answered before you attend an auction.
Q: What do the terms “reserve” and “absolute” mean?
A: An auction where the property is being sold with a “reserve” means that the property is being sold subject to seller approval. When a property is being sold “absolute” it will be sold to the highest bidder regardless of price. Any absolute properties will be noted in the brochure.
Q: What happens once I have become the successful high bidder?
A: You will move to the contract table where you will present your check and complete the Purchase and Sale Agreements. Agreement examples are available the day of the auction.
Q: Do I have to make any more deposits other than my initial deposit before closing?
A: Usually you must increase your initial deposit to a total of 5% of the purchase price upon execution of the contract, which takes place at the auction. You may pay this additional amount by personal or company check.
Q: When and where are closings held?
A: Closings typically are 30 - 45 days from the seller’s acceptance. Since the seller typically pays for title insurance, a company has been selected and the location information will be provided to you in the contract room.