Have you ever wondered how to buy
real estate at a Foreclosure
Auction? You may have even seen ads
in the newspaper or on the television for San Diego Foreclosure Auctions. For many, the idea of a high profile real
estate auction may seem quite confusing; however, by following these tips on how
to bid on and purchase a San Diego
foreclosure property, you will know exactly what to expect and how to save
money at a San Diego real estate auction.
Important note:
The three things that you need to bring to a San Diego Foreclosure Real Estate
Auction are a valid ID, a cashier’s check worth $2,500, and a personal check
with at least 3% of the final cost available for down payment.
Some pointers
for making the most of an AuctionToday.com
Foreclosure
Auction:
- At Auction Today, review all of the
available San Diego foreclosure
properties thoroughly so you have a good idea of what is on the market to be
auctioned.
- It is always a good idea to drive
out the foreclosed homes that make
your short list. This will give you the
best vantage point to decide which foreclosure properties you want to
buy.
- Register with the real estate
auction site AuctionToday.com to
gain free admission to San Diego
Foreclosure Auctions with dates and times.
- When you reach the auction location,
bring your ID and the cashiers check (as proof of financial obligation) to the
sign in desk to claim your numbered paddle.
- No matter if you are a little
nervous about attending your first Foreclosure Auction or you are a pro in
the arena of buying homes at San Diego
real estate auctions, be sure to attend the FREE seminar on biddings and
auctions! This will get you in the mood
to bid on the perfect San Diego
house.
- As you see the San Diego real estate property come up
for bid, raise your paddle high enough into the air for the auctioneer to make
note of your bid. You may bid either
until you reach your maximum bid amount or you are the highest bidder that wins
the bidding.
- Once you win, you will be led back
to a room to sign documentation. At this
point, your will need to sign over the cashier’s check and make a personal check
out for 3% of the final auction price before an escrow account can be started or
financing options can be chosen.
A word about bid pricing at a Foreclosure Auction: Be sure to calculate the Buyers Premium into
your final pricing. An example of the
cost of a San Diego home sale might
be as follows:
Winning Bid = $150,000, plus $7,500
Buyers Premium (5% of the winning bid amount) = Final Selling Price of $157,500.
Total down-payment due at signing = $4,725 (3% of $157,500) less your cashiers
check ($2,500) leaves $2,225 remaining to be paid by personal
check.
Want to know how to save the
most money at a San Diego
Foreclosure Auction while still winning the property of your
dreams?
Call a HouseRebate.com agent at
888-836-5675 to help
you save 25% of the commission of the purchase of a San Diego home at Foreclosure Auctions.
If you are not the Foreclosure Auction type of person and
just want to get down to the business of buying San Diego foreclosure homes, then you
can hop on the HouseRebate.com Virtual
Foreclosure Tour Bus (www.houserebate.com/foreclosure)
to see pictures, locations, and prices of bank owned San Diego foreclosure houses that
specially meet your criteria for buying
the homes in San Diego.
Foreclosure Home Listings
Join
HouseRebate.com now on
Virtual Foreclosure Tour Bus
or find a HouseRebate.com agent in your area to make
this the best San Diego Foreclosure
Auction of the
year!
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