How to Find Home Auctions

With the rising rate of home foreclosures in just about every market, home auctions are becoming increasingly popular. If you are in the market to buy a house, you may be interested in attending a home auction. But where do you find out about home auctions? Here are some ideas for you:

Difficulty: Moderate

Instructions

1. ATTEND a Government auction to buy a foreclosed home. You can find listings of auctions at their, "State and Local Surplus Auction" web page (link is listed below, under Resources).

2. JOIN an online premium foreclosure and home auction website, such as Realty Trac (link below). You will have access to the list of all home auctions in your area and live online home auctions as well. There is a cost for the membership, however, there is a free trial membership, which gives you full access to the site's information and will give you an idea on whether or not you want to purchase a premium membership or not.

3. ATTEND a live online home auction. Yes, they really exist! These websites walk you through the process, step by step, so that you are prepared to bid once the online home auction begins.

4. CONTACT your local realtor. Let them know that you are interested in finding out more about homes that are available at auction. They should be able to give you any upcoming local auctions. You may even want to call a few different realtors at different offices, because you may find out about even more auctions this way. Ask to be put on their mailing lists, as well for any upcoming home auctions in your area.

Tips & Warnings

• Check all of your resources daily.
• Have all of your financial paperwork in order before attending an auction.
• Join online forums in the real estate field to learn about even more home auctions.
• Check out any auction thoroughly before attending.
• Know all the legalities of buying an auctioned home.
• Know all of the fees or costs involved when attending and/or purchasing at a home auction.

Resources

• US State and Local Surplus Auction Listings
• Realty Trac
• Williams & Williams Worldwide Real Estate Auction
• Book: The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market

[gahazeleyes]

on 6/15/2009 Very informative. Thanks for sharing.