How To Buy A House At an ONLINE Foreclosure Auction

www.zrealestate.net – in this video we talk about foreclosures, and how, specifically to purchase them via online auction. It would seem as though gone are the days when people waited and waited at the courthouse steps in order to purchase an REO, or a bank repo. Now while this DOES STILL OCCUR, many institutional sellers like banks and lenders have opted for ONLINE auction platforms instead due to capacity of these websites to handle the volume of bidders. This video discusses how to buy a house at an online foreclosure auction. There are MANY different websites in which one can purchase an REO at an online auction, and unlike other public listing syndication websites, the information is generally NOT syndicated aside from being on the MLS in most cases. What are the websites, and what does this mean? Well in a nutshell it means that while the information including address, and the fact that the property is “for sale” may be available on virtually ALL public listing syndication websites, generally when it comes to actually buying one at an online auction, this can ONLY be done at ONE specific website. For this reason it’s important to check ALL of them. As mentioned previously, there are MANY different sites, and typically lenders will exclusively use ONE. Why? In some cases it’s because they own that auction site, but in most cases it’s for convenience. Some of the websites discussed in this video include but are not limited to www.xome.com, www.auction.com, www.hudsonmarshall.com, etc.. For a complete and/or more comprehensive list, please contact me. Also discussed in this video is how the process works, whether there is a reserve, what an absolute auction means, and whether or not the high bidder will get the property.

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Post by Jonathan Zuckerman

Jonathan has written 240 articles.

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