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Let's Go To A Foreclosure Auction

By Marty Patrizi

Real Estate Agent with The Bean Group

April 26, 2011 10:48 PM

Hard Tellin' not Knowin'

It's a term we use here in New Hampshire quite often. Don't mean to say that it is indigenous to New Hampshire but it does pertain to Foreclosure Auction Sales. Folks seem to think the best deals are had at Foreclosure Auction Sales.

The reality is quite different. Buyers have no means of having a qualified inspection performed, may have to deal with any latent liens and can not insure a clear title. Buyers had better do their homework at City Hall and the Registry. Without a qualified inspection, owner occupants have no chance at financing and must be paying cash. Taking into consideration the aforementioned NO GUARANTEES!!!....Is the Foreclosure Auction A good idea?....even if you are a seasoned investor?

Let's Not Go To Foreclosure Aucton!

Let's get with a Realtor, get pre-approved for a mortgage on your terms, and start looking for attainable property. Interest rates have never been better, home prices are reasonable, and the inventory is great! There are a lot of great deals out there and they are not always a foreclosure or a short sale. The best deal may be the financing.

Foreclosure Auction?

"You Can't Get There From Here". It's another phrase we use alot in New Hampshire.

About The Author: Marty Patrizi a Realtor with Virtual Homes Real Estate. Marty has been buying, selling, building, and renovating properties since 1988 and he can help you acheive your real estate goals efficiently. Marty can be reached at 603-781-4099 or via email: marty.patrizi@virtualhomes.com.

For FREE ACCESS to search all homes for sale in the NH MLS, visit TheNHRealtor

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Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Buyers should do their homework before buying a home. Some think that foreclosures are the best option and do not know how it works.

Apr 26, 2011 10:54 PM

Myers Jackson

Auctioneer, Texas Flip N Move - Grapevine, TX

America's Auctioneer

Auctions can still be a excellent way to made trades in real estate. Many seasoned investors and other buyers may have more due diligence prior to the auction and i see many Auction buyers very happy. Our duty as an agent is to help those buyers understand the position of the property. May be a whole new line of business for agents that represent buyers at any auction I will be happy to share some land mines to look for in order to better be equipped to buy at Auctions.. best of luck to NH

Apr 26, 2011 10:56 PM

Phil Leng

Retired - Kirkland, WA

Phil Leng - Retired

Hi Marty,

Buying at the county foreclosure auction is not for everyone.

However, in our area, three different realtors have set up large teams to do all the exploring for you, and do an excellent job of helping all cash investors find great bargains with minimal risk.

Phil

Apr 26, 2011 11:16 PM

Sally K. & David L. Hanson

EXP Realty 414-525-0563 - Brookfield, WI

WI Real Estate Agents - Luxury - Divorce

People want to believe that buying foreclosures is the best thing out in the market....the market is the best thing now...and buyer beware with no heads up as to condition !

Apr 27, 2011 12:04 AM

Marty Patrizi

The Bean Group - Strafford, NH

Multiply Your Propertunities

Gita, you are so right.

Myers, it would be great for you to point out those land mines so we can avoid them.

Phil, you may have opened my eyes to yet another revenue avenue.

Thank you all for your comments.

Apr 27, 2011 12:05 AM

Let's Go To A Foreclosure Auction

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