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Public Lender Foreclosure Auctions in California and Florida Offer 1500+ Homes

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Published: Monday, September 15, 2008

One of the largest public lender foreclosure auctions ever held is scheduled over eight days in September as lenders in foreclosure-leading California and Florida offer over 1500 homes for sale. All residential properties, these bank owned homes range from beach front condos in West Palm Beach to single family homes in historic Sacramento and Silicon Valley. At today's bargain prices you won't want to miss this opportunity to pick up that perfect bank owned beauty in two of the country's most desired real estate markets.

The best part about these auctions is that the properties are already bank owned. No need to worry about the homeowner coming to the courthouse steps to redeem the property. The foreclosure process has been concluded and these properties are offered free and clear of all liens and judgments!


Come Prepared to the Home Auction


Some important things to bring with you to these incredible home auctions include:

  • A $5,000 cashier's check (or cash) made payable to yourself. If you're buying more than one property, you will need an additional $10,000 deposit for each additional home.
  • The balance of the required 5% earnest money deposit is also due on auction day, in either cash or by personal check. This means that if your 5% deposit is greater than $5,000, the balance can be paid by personal check or cash. Since there is no change given on auction day, if your 5% is less than $5,000 it just means you have less money to bring at closing!
  • Valid photo identification to start the escrow process.
  • Two years worth of financial/credit documents, such as W-2s, paystubs, and tax returns if you are planning on securing financing.

The good news is there will be several auction-approved lenders on hand to help you pre-qualify before you bid. Better yet, you can pre-qualify TODAY by calling 1-800-648-5799!


Do Your Homework on Bank Owned Homes


While there are hundreds of bargains out there, you need to do your homework before placing your bid. There is no cooling off period at auction and no chance to change your mind. The properties are all open for inspection prior to auction, and agents will be on hand to answer any questions about the property.


Get Registered Before the Auction


You must be registered with the auction house before the auction. It is recommend that you complete the registration online at least 48 hours prior to the auction and if you are working directly with an agent or broker, make sure they follow the broker registration process as well. Being registered is important for two reasons: it guarantees you a seat at the auction and it gives you access to important information about the auction process only available to registered bidders.


Home Auction Schedule


Here is a listing of the scheduled home auctions during this incredible, eight day, bi-coastal event. All you have to do now is shop for that perfect foreclosure property, schedule a site visit, line up your deposit and get registered to bid.


Northern California foreclosure auction:

September 20th - Sacramento and Surrounding Areas
September 21st - Oakland and Surrounding Areas
September 22nd - Fresno and Surrounding Areas
September 23rd - Merced and Surrounding Areas
September 27th - San Jose and Surrounding Areas
September 28th - Stockton and Surrounding Areas


Florida foreclosure auction:

September 22nd - Tampa and Surrounding Areas
September 23rd - Ft. Meyers and Surrounding Areas
September 24th - Orlando and Surrounding Areas
September 25th - Jacksonville and Surrounding Areas
September 27th - West Palm Beach and Surrounding Areas
September 28th - Miami and Surrounding Areas


Remember, all homes must be sold! Lenders are accepting bids they never would have dreamed about a year ago. Act today. This might be your last chance at picking up that foreclosure property you have been waiting for!

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About this Page: Florida and California lead the nation in foreclosures. One of the foreclosure auctions ever held will take place over eight days in September as lenders in both states work to reduce their bank owned inventories.