Real Estate Auctions – Get Best Deals On New Homes

There are numerous places in the world where builders are holding new home auctions. If you want to find some good ones, just do a simple search on the Internet.

You can search for a website online that conducts auctions online. You can browse to https://www.soldonline.com.au/ to take part in real estate auctions online.

Image Source: Google

You can also check with local builders, or call some real estate agents in your area. Many new homes have been repossessed either from the builder or from the homeowner and are scheduled to be auctioned off on the courthouse steps.

Although you can probably get a better deal through a foreclosure auctioned on the courthouse steps, some states allow the homeowner redemption rights for a period after the auction.

Just because you are the winning bidder, does not mean you can take direct ownership of the house. You may still have to wait for the redemption period to end before you can take ownership.

Another option is foreclosure auction conducted by the lender. Lenders are known to hire auction companies to conduct auctions in several homes they hold in the area.

If you decide to go to a builder-held auction (or auction house, in this case), you will need to be prepared. Oftentimes, the builder will schedule a date (s) for potential homeowners to see the house.

Once the auction date arrives, to bid you will need a notarized note from a lending organization or bank stating that you are financially capable of purchasing a home.