Search
Related Links




    

Informative Articles

Ebay - Online Auction Tips
Buying things in an auction is the most affordable way to obtain the item a person wishes to have. That is why even the Internet had provided such sites like eBay in order to provide more affordable items than what the typical market has to...

How To Upsell Your eBay Auction Bidders
How to effectively cross-promote items in your eBay Auctions to boost sales. Includes simple how-to instructions for eBay sellers. Now tell the truth- You sprung for that candy bar near the checkout line last time you went grocery shopping...

Succeeding with Ebay Auctions
Ebay just seems to be another one of those darling Internet phenoms like Google that just seems to do no wrong. With nearly 15 billion in sales last year and over 10 million visitors every month (and still growing!), it seems like Ebay might be...

There are Lots of Auction Sites to Choose From, But Which One is Right for You?
Anyone who has used the Internet knows that a big chunk of e-commerce comes from auction sites . EBay is the world leader, but many other Web sites exist, too, some filling special niches (gun auctions, government auctions, car auctions, etc.)...

Yahoo Auctions is now Free!
Here is some great news if you are currently earning a living or making some extra cash through auctions or were considering it. Yahoo Auctions has announced that they will stop charging fees for US based auctions. This is designed for the consumer...

 
Real Estate Auctions: Avoid Online Scams

(Discover Hidden Gems by Avoiding Potential Pitfalls and Fraudulent Websites.)

Seized Property for 90% off Market Value?

Recent popularity

In the last year buying bank and government seized properties has become very popular. This is because people have discovered that they can purchase any type of real estate: affordable homes, single-family homes, multi-unit houses, apartments/townhouses, commercial properties, mobile homes, land, timeshares, vacation and rental properties at greatly discounted prices ... property listings as much as 90% off the market value.

Why so cheap?

A seized property is a home or property that has been repossessed by the lender because the owners failed to pay the mortgage - this is called foreclosure. A home or property can also be seized by the government due to illegal activities or tax evasion. Hundreds of thousands of properties are seized every year.

Because of the constant influx of new seized properties and the enormous amount of money and time required to maintain and market them, the banks and government attempt to recover at least some of the money by conducting public seized property auctions. Bank and government homes and properties are purchased here for as much as 90% off their market value.

Real estate's little secret

Not many people attend these auctions because they are not well advertised. There's a reason for this. Since the profits will already be small, the banks and government will not spend much money on advertisement ... maybe only a small ad in the local newspaper. This means attendance is small, so those who do attend have a great opportunity to purchase bank and government homes and properties at bargain costs by sheer lack of competition.

Properties at you fingertips

2004 saw entire networks spring up solely to administer these seized property listings. Members can now perform online searches for bargain properties in any part of the country. The better services allow someone to search by city or zip code, and include photo and detailed descriptions


in the search results.

Fraudulent websites

Unfortunately, as with any innovative idea come the scammers. Hundreds of "bank property listings" and "government property listings" websites have popped up, claiming to offer direct access to networks where people can purchase these properties. Most charge $50-$75 dollars to browse their listings. But once a customer pays the membership fee they find:

1. Outdated Listings
2. Non-Working Pages
3. Non-Intuitive Navigation
4. Zero Support or Customer Service

Someone looking to join a website might even find themselves being offered the opportunity to access the "premium homes and property listings" by becoming an "elite" member of this particular service for just $50 more. There are many instances where the websites appeared to exist just to take a consumer's money. In many cases people aren’t even able to contact anyone from the sites.

Yes, you can purchase homes at a 90% discount.

If you can stay away from the SCAM websites, it is possible to purchase perfectly nice ... even stunning, homes and properties by accessing these networks of seized property listings. For anyone looking to join a seized property network website to purchase a home or invest in real estate, be sure that it meets these minimum requirements:

• Network spans all 50 states.
• Listings are fully searchable by city and zip.
• Listings include photograph and description.
• Listings are updated daily.
• Customer service available via phone or email.


About the Author: John Lee is owner and publisher of the acclaimed consumer reporting website WorldWideReviews. A free product review and watchdog service. Real Estate Auctions http://moneyemployment.worldwidereviews.com/SeizedRealEstate-GovBankProperties.htm

Source: www.isnare.com