Looking For Real Estate Investments At State Run Auctions
Looking to buy real estate at auction. Your State likely has a Department of Treasury who has the responsibility to auction off property that has been seized, abandoned, or forfeited to the general public. It is not uncommon for the Treasury to hold over 100 auctions a year.
When you attend one of these auctions and place a winning bid, be prepared to close the deal. Once the winning bod has been placed, you are entering into a legally binding agreement with the State Government. The Department of Treasury uses the money raised at these auctions to help fund public safety services like police and fire departments just to name a few.
If you would like to participate in one of these auctions, you'll need to meet a few requirements. You must be at least 18 years old and not a State employee. You or your representative can not be a contractor, subcontractor or vendor to the Department of Treasury in your State with access to information on the property. You'll need to fill out a bidder registration form and have it approved prior to bidding. If you are a representative acting on behalf of someone else, the form will have to be notarized. Inspect any homes you will be bidding on before the auction begins. Homes are sold in "As Is" condition.
These are just a few of the rules and regulations which govern state run real estate auctions. Each state is different with their own set of regulations. You will need to contact them prior to the auction if you plan to attend the auction and bid on properties. Once approved you'll be receive a bidding number. You need this number to place a bid on any properties you like.
In Closing
It's important to just go out and have fun, even if you just sit on the sidelines. The experience you receive will benefit you down the road in future auctions. If you do decide to place a bid and have done your homework, you should walk away with a great return on the property. - 23199
When you attend one of these auctions and place a winning bid, be prepared to close the deal. Once the winning bod has been placed, you are entering into a legally binding agreement with the State Government. The Department of Treasury uses the money raised at these auctions to help fund public safety services like police and fire departments just to name a few.
If you would like to participate in one of these auctions, you'll need to meet a few requirements. You must be at least 18 years old and not a State employee. You or your representative can not be a contractor, subcontractor or vendor to the Department of Treasury in your State with access to information on the property. You'll need to fill out a bidder registration form and have it approved prior to bidding. If you are a representative acting on behalf of someone else, the form will have to be notarized. Inspect any homes you will be bidding on before the auction begins. Homes are sold in "As Is" condition.
These are just a few of the rules and regulations which govern state run real estate auctions. Each state is different with their own set of regulations. You will need to contact them prior to the auction if you plan to attend the auction and bid on properties. Once approved you'll be receive a bidding number. You need this number to place a bid on any properties you like.
In Closing
It's important to just go out and have fun, even if you just sit on the sidelines. The experience you receive will benefit you down the road in future auctions. If you do decide to place a bid and have done your homework, you should walk away with a great return on the property. - 23199
About the Author:
Hubert Miles is the founder of Waterfront Houses USA, an online advertising service that offers Riverfront Real Estate and River Real Estate For Sale in the US and Canada.
posted by X - Men @ 8:00 AM
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