We Are In the Hottest Foreclosure Market In US History!

What are the major advantages of buying foreclosures in an auction? Firstly, because a bank will be keen to get rid of the property, they will often accept a bid that is significantly lower than the market value of the home. This is especially true now, when the number of foreclosure listings have hit record highs! Also, because auctioned properties are generally sold sight-unseen (or, at least, without an extensive inspection and appraisal) this also creates downward pressure on bids.

Finally, the rules governing foreclosure auctions include a requirement to pay a substantial deposit if your bid is successful, with the remainder of the entire purchase price due within a few days. This automatically reduces the number of other investors you will be competing with.

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