      
 Getting Your Finances In OrderPublished: Monday, February 02, 2009 Some of the benefits of buying a foreclosed home at auction are the deal is guaranteed to close in 30 days, there is no possibility the owner will change their mind, and because the properties are sold "as is" and you've conducted a thorough inspection, you know exactly what you're getting yourself into. On the other hand, you have to be certain before you bid that you a) really want that house and b) have the ability to finance and close the deal within the required 30 day escrow. If you are fortunate enough to be paying cash for the entire purchase you already know that you have the ability to close the deal. With 80% of buyers financing a least a portion of their real estate purchases these days however, it is important to secure your financing in advance of the auction date or at the minimum, pre-qualify with a lender that has been approved by the auction company. According to the Real Estate Disposition Company (REDC), a national foreclosure auction company that successfully auctioned over 32,000 homes in 2008, getting your finances in order before the auction is critical to closing the deal. Having financing in place quickly assures the auction company you are a serious buyer and helps move the purchasing process from bid to closing with ease. REDC recommends that prospective buyers:
Buying a foreclosed home at auction is one of the best ways to purchase quality real estate at discount prices. Join the smart buyers and take steps to plan your purchase thoroughly, from pre-bid inspection to pre-qualifying for a loan, and soon you will be enjoying the benefits of homeownership hassle free and satisfied you got the best deal! Other Recent ArticlesHome Buyer Tax Credit Extended Until April, 2010Category: Recent Articles Published: Thursday, December 10, 2009 The federal tax credit has been extended to April, 2010, including an expanded benefit to existing home owners who sell their homes and then repurchase a new primary residence valued at $800,000 or less. This could be the perfect opportunity for buyers who wanted to cash in on home auction bargains but were fearful of lower resales on their existing homes. 57,000 Foreclosures Remain in California – Lenders Scheduling More Home AuctionsCategory: Recent Articles Published: Thursday, December 03, 2009 The Southern California foreclosures market may be shifting, with fewer homes entering foreclosure than in previous quarters. However there are still 57,000 existing foreclosures statewide that need to be sold, and lenders are looking at foreclosed home auctions as a major tool to sell large numbers of foreclosures in a short amount of time. Southern California Foreclosures Still the Bulk of Home SalesCategory: Recent Articles Published: Friday, November 27, 2009 Southern California foreclosures still account for the bulk of area homes sales and lenders are finding real estate auctions the fastest and most efficient method of clearing their books of REO properties. Buying a home at auction requires a little prep work, however and the experts at homeauctionexpo.com share their insight on how to find the best auction properties.  February 2009
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