Real Estate Auction Action - Buying A Home At Auction

Due in part to the popularity of the U. S. Department of Housing and Urban Development (HUD)'s home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction aren't limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com!

Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner.

Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc.

At the auction itself, resist the temptation to get into a personal bidding war, just "to beat out the other guy". Have a set price limit and stick to it. Other houses will come along, and you don't have to win the first auction that comes your way.

You should know that the price of a home at auction is typically the loan balance (if foreclosed), plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, it's possible to get a great deal in an auctioned house, with a little research and planning first.

Also, know that you probably won't be able to get an inspection, and are buying the home "as is". If you can't do any needed repair work yourself, or can't hire it done within your budget, you may not end up getting such a bargain in the end.

About The Author

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

In The News:

Radio frequency auctions: No one’s tuning in, operators say reserve prices too high  The Financial ExpressMost of the stations on offer in Phase III have a population of less than five lakh and are located mainly in the North-Eastern states and in Jammu and Kashmir.
Peabody's first online surplus auction goes live - Itemlive  Daily ItemAmong the items up for auction are, from left, this 2007 Ford E350 Super Duty Van. The eight-cylinder vehicle is in fair condition. This 2006 Freightliner Thomas ...
Weak bond auctions flash warning on India's record debt sales  LivemintMumbai: India is struggling to sell its bonds at recent auctions, and that's even before Prime Minister Narendra Modi embarks upon a record borrowing program.
National Auction Market Preview - 24 February The busiest suburb for auctions this week is the Melbourne  CoreLogic Property NewsThe busiest suburb for auctions this week is the Melbourne suburb of Bentleigh East, with 19 homes set to go under the hammer, followed by the Sydney ...
Melbourne faces first auction test of 2019 in bumper weekend  Domain NewsMelbourne's weakening property market will face a key test this Saturday as the number of auctions returns to more normal levels after the summer break.
Upcoming auctions offer range of opportunities for investors  Independent.ieFive public property auctions are scheduled to take place in the next three weeks across the country in Dublin, Naas, Cork, Galway and Limerick.
Industrial Auctions Getting So Popular in Industry  IFP NewsMore people get interested in industrial auctions day by day. So, the industrial auctioneers are getting more specialized in time on this field.
Wilsons Auctions to Conduct Crypto Auction for Belgian Government  Finance MagnatesThe United Kingdom-based auction company has announced that it is going to host a 24-hour online auction of Bitcoin.
SBI real estate e-auction on Feb 27, over 1,000 commercial, residential properties on sale; how to participate  Times NowNew Delhi: State Bank of India (SBI), India's largest bank by customers, is coming up with a real estate e-Auction on Wednesday, February 27, 2019, under ...
Vodafone Idea wants 5G auctions only after 2020  ETTelecom.comVodafone Idea Limited (VIL), India's leading telecom operator said that 5G auction should only take place sometime after 2020.
‘Once in a blue moon’ chance to snap up high-end jewellery at bargain prices  Daily TelegraphBargain hunters can snap up rare and exquisite jewellery for a fraction of the original price tag when more than 260 items worth more than 2m go under the ...
Sydney faces first auction test of 2019 in bumper weekend  Domain NewsSydney's property market faces its first test of the year in the form of a bumper weekend of auctions. There are 660 auctions scheduled across the city on ...
Load shedding 'devastates' SA vehicle auctions  Wheels24Load shedding is having a devastating effect on vehicle auctioneers, according to Darryl Jacobson, managing director of True Price.
Utah tag auctions highlight Western Hunting Conservation Expo  Las Vegas Review-JournalHunters from across the west gathered last week at the Salt Palace Convention Center in Salt Lake City, Utah, for the 2019 Western Hunting Conservation Expo.
Once a hot ticket at Tsukiji, Tokyo's Toyosu market struggles to attract tourists to its tuna auctions  The Japan TimesThe Toyosu wholesale market in Tokyo's Koto Ward has been struggling to attract visitors to watch tuna auctions even though a designated viewing area was o.
Tighter credit rules crimp buyers at one of the first commercial property auctions of 2019  Commercial Real Estate NewsInvestors are being forced to stump up about 20 per cent more in funding for commercial properties, which has led to many properties not selling at one of the ...
Brisbane auctions: Buyers hanging out for the houses with nothing to do  Domain NewsIn this era of time-poor professionals and busy families, finding a house that requires no work has become a high priority for many Brisbane buyers.
Auction Preview: Asian Antiques & Art at Altair Auctions, Norwood, Mar 1  BLOUIN ARTINFOWhat: Asian Antiques & Art. Where: Altair Auctions, 151 Carnegie Row, Norwood, MA 02062, United States. When: Mar 1, 12:00 AM GMT. Top Lots of the Sale:.
UK Examines Compression Auctions For Libor Transition  Markets MediaThe Bank of England's working group on the transition from Libor to a new risk-free reference is reviewing the use of compression auctions to decrease risk ...
Commercial coal mining auctions may not take place soon: Official  Economic TimesNEW DELHI: Auctions for commercial coal mining may not take place soon as the country is entering the election mode, said a senior government official.
Auction calendar: February 22, 2019  Wisconsin State Farmer... ** Indicates an auction ad appearing in this issue of the Wisconsin State Farmer. FRIDAY, FEBRUARY 22. Withee, WI. 10:30 AM Special Dairy Cattle Auction ...
Turkish Treasury holds auctions to borrow $1.86B  Yeni Şafak EnglishTreasury and Finance Ministry holds auctions for fixed coupon and CPI-indexed government bonds.
Regulators to scrutinise CCP default auctions  Risk.netGlobal regulators are debating options to improve the design of clearing house default auctions, amid calls from banks and other market participants for a ...
Maharashtra Auctions 1 GW of Solar Projects at Lowest Tariff of ₹2.74/kWh  Mercom IndiaShiv Solar and ACME Solar have quoted the lowest tariff of ₹2.74 (~$0.038)/kWh in the recent auction conducted by the Maharashtra State Electricity ...
JFK must-haves at auction: Presidential flag, inauguration shirt  Washington ExaminerNew must-haves for JFK collectors are heading to auction, and the winning bidder will be able to act — and look — just like the 35th president. Our friends at ...
Mt. Pleasant Boosters to hold annual auction Saturday  The Morning SunThe Mt. Pleasant Oilers Athletic Boosters are hosting their annual auction to help raise money for the school district's athletic programs.
GOOD CROWDS FLOCK TO OLD TORQUAY AUCTIONS - Surf Coast Times  TIMES NEWS GROUPVendor Naranda Watson of 3 Short Street Torquay shakes hands with successful buyer John Sanderson, with auctioneer Steve Menegazzo (left) and Tracey ...
Bank of Baroda auctions chairs, water dispenser after liquidation - Graphic Online  Graphic OnlineThe Ghana unit of India state-owned lender, Bank of Baroda is auctioning its properties that include chairs and water dispenser as it prepares to finally pack out ...
Pieces of Mike Isabella's restaurant empire go up for auction  WTOPThe bankruptcy courts are beginning to dismantle chef Mike Isabella's D.C.-area restaurants, with auctions now scheduled for the contents of six of the eateries, ...
Uncovered treasures: Vince Lombardi game-worn hat among items being auctioned  Green Bay Press GazetteGREEN BAY – The Vince Lombardi hat was in a Green Bay Packers duffle bag; the other treasures in a portable metal safe, about four decades old.
Highlights from the record-breaking 2019 Retromobile car auctions  New AtlasThe cluster of elite car auctions associated with Rétromobile grew in strength yet again this year with official auction house Artcurial and the world's largest ...
Ferrari Emerges As Top Earner from 2019 Scottsdale Collectible Car Auctions  ForbesWith another round of January auctions behind us, we can now get a better look at how collector cars are selling and marvel at the prices they command.
Vodafone Idea wants 5G auction to be held after 2020  Daily News & AnalysisVodafone Idea, the country's largest telecom player, on Wednesday said the 5G auction in India should happen only post 2020. "The industry needs time to ...
'Huge sentiment shift': Sydney, Melbourne auction clearances pick up  The Australian Financial ReviewSydney's auction clearance rate hit a nine-month high and Melbourne's also picked up on the weekend buoyed by hopes of an interest rate cut and relief that ...
St. Andrew's holds annual auction | | helenair.com  Helena Independent RecordThe 2019 Emerald Isle Auction for St. Andrew School will be from 4:30 to 9 p.m. Saturday, Feb. 23, on campus, 1900 Flowerree St. Lots of great auction items, ...
Auction Directory  thejournal-news.netSAT., MAR. 2 - 9 a.m. at Bond County Fairgrounds, Greenville, IL 62246. Consigning all types of farm machinery incl. tractors, combines, headers, planters, ...
Selling Heathrow's slots at auctions 'will push up fares'  The TimesMinisters are considering auctioning take-off and landing slots at an expanded Heathrow, despite warnings that such a move would inflate costs for airlines and ...
Classic cars fetch top dollar at auction  Business DayThe classic-car investment market had a strong start to the year at the Rétromobile auctions held in Paris from February 5 to 9. Official auction house Artcurial ...
Fundraiser Offers Justify Halter in Silent Auction  BloodHorse.comCourt Appointed Special Advocates (CASA) of Lexington will be offering a halter worn Justify, the 13th and most recent winner of the Triple Crown. CASA will ...
Want to own your own fire truck? Peabody surplus auction offers up retired vehicles  Boston 25 NewsIf you've dreamed of owning your own firetruck or turning a school bus into a traveling tiny home, here's your chance.
Dinner And Auction Planned To Benefit St. Pat's School  KIWARadio.comSheldon, Iowa — A fundraising supper and auction is coming up to raise funds for a local school, and you are invited to help out. St. Patrick's School in Sheldon ...
Concord International Elementary PTA Auction  West Seattle BlogJoin us for a tropical-themed evening complete with live music, dinner, drinks and silent and live auctions benefiting Concord International Elementary!
Durgin-Park memorabilia is on the auction block  The Boston GlobeAfter Durgin-Park closed on Jan. 12, one of the most common refrains uttered among locals seemed to be, “I wish I had gone.” The 192-year-old restaurant was ...
Rarest, most valuable US paper bills in existence set for multimillion dollar auction  Fox NewsThree exceedingly rare 19th century U.S. currency notes are expected to sell for a combined $7 million when they are auctioned off next week.
CASA to Auction Justify Halter | TDN  Thoroughbred Daily NewsCourt Appointed Special Advocates (CASA) will auction Triple Crown winner Justify's halter at their annual fundraising event Bourbon and the Bayou. The Mardi.
DoT likely to host next round of spectrum auction post August  Gadgets NowThe Department of Telecommunications (DoT) is likely to hold the next round of spectrum auction only after August this year, and may use the new pricing ...
Gerhard Richter's Painting Secures Top Lot at Phillips' Upcoming Auction | Artinfo  BLOUIN ARTINFOGerhard Richter's painting, “Dϋsenjager,” gets the highest estimate at Phillips' upcoming auction “20th Century And Contemporary Art Evening Sale,” which will ...
Online auction of seized Belgian bitcoin begins next week  The Irish TimesWilsons Auctions secures contract to sell 315 coins of cryptocurrency.
Fort Lauderdale mansion of late billionaire Huizenga set for auction (photos)  South Florida Business JournalThe home build by the owner of the Miami Dolphins is along the New River.
Nkom accepts registrations for offshore 700 MHz and 900 MHz auction until 04 April  TelecompaperNorwegian communications regulator Nkom has finalised the rules for the auction of offshore frequencies in the 700 MHz and 900 MHz bands out for ...
APTEL stays Tamil Nadu wind auction temporarily  Economic TimesTamil Nadu Electricity Regulatory Authority set a feed in tariff for wind power of Rs 2.80 per unit.
The FCC Just Wrapped Its First 5G Airwave Auction, and It Didn't Even Crack $1 Billion  FortuneThe first 5G airwave license auction ended with the Federal Communications Commission receiving total winning bids of $702 million.
FGEHF gets Rs706.35m from auction of plots  The News InternationalIslamabad: The Federal Government Employees Housing Foundation (FGEHF) fetched Rs706.35 million from auction of commercial plots located in sectors ...
Germany Awards 476 Megawatts In Latest Undersubscribed Onshore Wind Auction  CleanTechnicaFebruary 20th, 2019 by Joshua S Hill. Germany's latest onshore wind tender was again undersubscribed with only 476 megawatts (MW) of capacity being ...
UPC Solar Quotes Lowest Tariff of ₹2.55/kWh in Gujarat's 500 MW Solar Auction  Mercom IndiaParyapt Solar, a special purpose vehicle by UPC Solar, has emerged as the lowest bidder by quoting a tariff of ₹2.55 (~$0.035)/kWh to develop 50 MW in the ...
9 Online Auction Sites to Rival eBay  G2 CrowdOnline auctions are a great way to snag unique items, so we've compiled a list of 9 online auction sites that work similarly to eBay but offer a unique way for you ...
Govt reverts to old block auction plan  Times of IndiaIndia Business News: NEW DELHI: The government has switched back to the two-decades-old method of auctioning oil and gas blocks in areas with poor ...
Game-Worn, Autographed 1984-1985 Air Jordan 1 'Black Toe' Auction  ComplexHeritage Auctions is selling a signed Air Jordan 1 'Black Toe' worn by Michael Jordan during the 1984-1984 NBA regular season.
Two clarifications that point to where Essar Steel auction is headed  Moneycontrol.comA couple of clarifications perhaps point to the direction where the Essar Steel auction is headed. Anil Agarwal's Vedanta on February 19 categorically confirmed ...
Rare Michael Jordan shoe goes from Milwaukee mall demolition site to high-priced auction  Milwaukee Journal Sentinel"My Very Best." It's a simple enough message, scrawled on an old athletic shoe that wound up in an abandoned storage room as Capitol Court Mall was being ...
Digital panel approves moentisation of BharatNet assets through lease, auction  Business StandardThe Digital Communications Commission, the inter-ministerial panel of DoT, has given in-principle nod for monetisation of fibre assets of the Pan India ...
Auction Preview: Extraordinary Books and Manuscripts at Bonhams, New York, Mar 12 | Artinfo  BLOUIN ARTINFOWhat: Extraordinary Books and Manuscripts. Where: Bonhams, 580 Madison Avenue, New York NY 10022, USA. When: 12 March, 02.00 EDT. Public Viewing: ...
Doubts over authenticity of 'Hitler' paintings sold at Shropshire auction house  shropshirestar.comAn art critic has questioned whether paintings believed to have been created by Adolf Hitler and sold by a county auction house were actually painted by the ...
Local News Clark County to hold first surplus auction of the year Amy Abdelsayed 9:55  KTNV Las VegasLAS VEGAS (KTNV) — Clark County's first government surplus auction of 2019 is just around the corner and the preview and pre-registration begin next week.
KAR Auction Services (KAR) James Hallett on Q4 2018 Results - Earnings Call Transcript  Seeking AlphaKAR Auction Services (NYSE:KAR) Q4 2018 Results Earnings Conference Call February 20, 2019, 11:00 AM ET Company Participants Mike Eliason - Treasurer ...
Details: Over 100 John Deere 6R/M Series tractors to go to auction  AgrilandOn Wednesday (February 13), we brought you news that Euro Auctions has been appointed to “dispose of” the assets of the UK-based Hawk Plant equipment ...
Dalhart livestock auction report | Markets  High Plains JournalThe Cattleman's Livestock Auction, Dalhart, Texas, reported receipts of 1687 head selling Feb. 14, compared to 1872 head a week ago and 2625 head last year, ...
Last day for Herald's annual online auction  Lethbridge HeraldLethbridge Herald Only hours remain to take advantage of local deals through the Lethbridge Herald. The second annual LethbridgeAuctions.com is open for.
Government to auction PPAs to revive 10,000 MW of stressed power plants  Economic TimesNew Delhi: The government expects to put 10,000 MW of stressed power assets on track through auctions, starting with 5,000 MW of power purchase contracts ...
Gujarat solar auction: UPC Energy Group, Adani Green Energy, ReNew Power winners  Economic TimesOrange Renewable and ReNew Power won 120 MW and 105 MW at Rs 2.67 and Rs 2.68 in the auction.
China stirs the PV world – by preparing to shift to auction mechanism  pv magazine InternationalProjects not encompassed by the new, central-subsidy-free, 'grid-parity' regime will be eligible to bid for a government subsidy. But, at a reported $446 million, ...
This 1989 Mercedes-Benz 560 "Pre-Merger" AMG Is Now up for Auction  HYPEBEASTIf blacked-out Mercedes-Benz vehicles are your thing, the latest auction from RM Sotheby's is going to be of interest to you. Made in 1989, the Mercedes-Benz ...
Fundraiser for 'Friends of Literacy' happens ahead of Bachelor Auction  WATE 6 On Your SideMoney raised tonight as we get closer to a bachelor auction, helping Friends of Literacy.
Spectre International faces auction over Sh7.7 million debt  Daily NationBetric Ltd says its operations have been affected due to delay in settling the debt.
Department of Revenue announces auction schedule for Borriello Brothers Pizza  KOAA 5Your browser does not currently recognize any of the video formats available. Click here to visit our frequently asked questions about HTML5 video.
Auction Preview: Jewelry at Kissing Auction, Delhi, March 2 | Artinfo  BLOUIN ARTINFOWhat: Jewelry. Where: Kissing Auction; SD-99 Tower Apartments, Pitam Pura, Delhi, 110034, India. When: March 2; 04.00 AM GMT. Top lots of the sale:.
HELPING HAND AUCTION | Local News  Paris Post IntelligencerThe Helping Hand radio auction raised $6014 on Monday and $7367 on Tuesday for a year-to-date total of $272185.
Long Chim adds Thai spice to Auction House Market  NOLA.comLong Chim began with a craving. After moving to New Orleans, May Mananya couldn't find the food she used to eat in her native Bangkok. So she started ...
Gemfields' latest Lusaka emerald auction generates $10.8m in revenue  Creamer Media's Mining WeeklyGemfields' latest auction of predominantly commercial-quality rough emeralds, held in Lusaka, Zambia from February 18 to 20, saw 24 companies placing bids ...
Auction Report: Audemars Piguet Will Sell A Unique Royal Oak Chronograph To Benefit Clean Water Charity One Drop  HODINKEEThere might be no two words that can elicit a more intense, heart-pumping reaction from a watch collector than "piece unique." The thought of owning something ...
Torrington sells downtown property at tax auction; no bids on 2nd site  Torrington Register CitizenTORRINGTON — A sparse crowd attended the city's delinquent tax auction Tuesday, where one of the two properties for sale was purchased. The former ...
Manager Auctions Manager Of The Month Award In Aid Of Fishermen's Mission  Official Grimsby Town WebsiteManager, Michael Jolley is auctioning his Sky Bet League Two Manager of the Month award in aid of Fishermen's Mission.
Phillips' Upcoming Auction to Feature Acrylic Painting by KAWS | Artinfo  BLOUIN ARTINFOPhillips' upcoming auction “20th Century & Contemporary Art Day Sale” will feature an “Untitled” painting by KAWS. The sale will take place on March 8, 2019, ...
KAR Auction Services 2018 Q4 - Results - Earnings Call Slides  Seeking AlphaThe following slide deck was published by KAR Auction Services in conjunction with their 2018 Q4 earnings call.
Three Lotus Carltons are up for sale… at the same auction  Top GearRace Retro sale includes three examples of the iconic super-saloon. Greg Potts. 20 Feb 2019. Facebook · Twitter · Google+ · WhatsApp · Mailto · Copy link.
Sean Scully's Canvas to Steal Spotlight at Phillips' Upcoming Auction | Artinfo  BLOUIN ARTINFOSean Scully's painting “Dust” will be the highlight of Phillips's upcoming London sale, “20th Century And Contemporary Art Day Sale” on March 8 2019.
Tiger Woods' old Scotty Cameron putter sells for big money  Golf.comTiger Woods once told his son, Charlie, there were two putters in his putting studio that were off-limits: "There's the black one I won with the Teryllium insert.
Balmoral house goes to auction for first time ever  NEWS.com.auThey bought the block of land with just £3000 ($5468.63AUD).
Longhorn auction draws buyers from across the U.S.  The Navasota ExaminerBesides the Lone Star and the oil derrick, there is perhaps no greater symbol of Texas than the Longhorn. And focusing on its protection and advancement is the ...
Tata Teleservices offers to surrender spectrum allocated without auction  Economic TimesNEW DELHI: Tata Teleservices has offered to surrender spectrum allocated to it without auction in around 15 circles before its merger with Bharti Airtel is ...
Auction canceled, buyer in place for Weathersfield Twp. complex  WKBN.comAuctioneer Michael Berland said the seller elected to cancel it because they believe they have a buyer in place for the property at a good price.
Auction report: 'If she's not blue, she just won't do!'  AgrilandCheffins held an 'on-site' farm machinery auction in Cambridgeshire (England) earlier this month – on February 5. It was run on behalf of BC & DM of Risely ...
David Gilmour's guitar collection comes to auction  Christie'sDavid Gilmour's 1969 Black Fender Stratocaster has earned its place in rock'n'roll history. Known as 'The Black Strat', the guitar was purchased in 1970 at ...
Quora adds search-like keyword targeting, Auction Insights for advertisers  Search Engine LandSAN JOSE — Quora continues to rapidly build out features and capabilities of its not-yet-two-year old advertising platform. The question and answer platform ...

eBay - Profiting With Books By Janette Oke

Janette Oke is a Christian writer whose books about life,... Read More

7 Simple Steps To Profit Without Your Own Product

Most people do not succeed on the internet because they... Read More

A New Definition of Buyer Beware

"Who's Suzie?"My wife Katrina had been acting strangely ever since... Read More

Make BIG MONEY on eBay - Your Unlimited Cash Cow

Let me be brutally honest; until recently, I had never... Read More

How Do You Find A Reliable Dropshipping Source?

A Dropshipper is someone who will anonymously send the goods... Read More

Selling through Auction Marketplaces

Consumers are increasingly feeling more comfortable in buying products through... Read More

Profit through Other Peoples eBay Errors

There are many issues that influence how an eBay auction... Read More

Five Ways To Detect Shill Bidders On eBay So That You Dont Pay Absurd Prices

There is as a lot of buzz about shill bidders... Read More

How to Make Money from Internet Auctions

If your business is not using eBay and other Internet... Read More

The Top Ten Tips For Auction Success!

If you were to look through eBay, or any other... Read More

How To Sell On Ebay & Keep Your Shirt

Have you ever been delighted after a huge sale on... Read More

Mistakes to Avoid in your eBay Auctions

Online auctions continue to grow in popularity as an easy... Read More

Auction Seller Guide To Success

When its time to clean-up around the house, some people... Read More

Where To Find Items To Sell On eBay

One question that always seems to pop up is, "Where... Read More

How Drop Shipping Works

One of the most frequently asked questions on the Net... Read More

Negating Negative Feedback on eBay

Taking some pride in my one hundred percent positive feedback... Read More

Online Auctions Business

Online auction sites are a great way to find a... Read More

Online Auction Sellers - Seize Control Of Your Business!

As the online auction model of business continues to evolve... Read More

Drop Shipping Increases Profits

You would like to increase your income by selling other... Read More

How To Use A WYSIWYG HTML Editor To Make Stunning Ebay Auction Listings

What kind of browser are you using for online surfing?... Read More

Effective Auction Listings - How To Create Them

Once you've created the best possible title for your item,... Read More

The Down Side Of Using Dropshippers In The Ebay Auction Arena!

Ok, let me just say right up front that I... Read More

What to Sell on eBay - 7 REAL Tips for Finding Successful Products

This question has become one for the ages. There are... Read More

How to Sell on eBay Internationally without Risk

eBay allows you the opportunity to sell all over the... Read More

Your eBay Business - 8 Ways To Insure Its Success

I don't know if you've ever noticed, but it seems... Read More