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Prince George's County MD Trustee Sales (Week of 3/7/10) - Alex Cooper Auctioneers
Prince George's County MD Trustee Sales (Week of 3/7/10) - Alex Cooper Auctioneers 
Trustee sale auctions are held at the front of the county court houses in Maryland. Home buyers are looking for bargain prices.  Trustee sales are open to the public and all qualified bidders. These auctions are ordered by the secured mortgage lenders when borrowers default on their payment obligations. The indicated deposits must be in cash or certified funds. Most of the bidders use cashier's checks payable to themselves. Prospective bidders should carefully read the newspaper advertisements that appear for three weeks before the sales dates. If you do have experience and know the risks, seek professional advice before placing any bids at these auctions.
Always check for cancellations since bankruptcy filings or reinstatements may stop sales.  Normally, these properties are not offered for inspection. Purchasers that plan to use mortgage financing should obtain a pre-approval letter from their mortgage lender. The lender needs to know that the property is being purchased in "as-is"condition and repairs may be required. Appraisers may not be able to access the interiors.
In the current market, the secured lenders are purchasing most of the homes that are sold. The lenders then offer the properties for sale ... more

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