How to Find Real Estate Auctions?

How to find real estate auctions? A real estate auction is a public sale of any property. It is a non-traditional and a novel way of selling a real estate.

All types of real estate including residential property as well as commercial property are sold at auction. A real estate auction is an effective way to transact real estate business.

When does a property get auctioned? If a property owner fails to pay his due installments, the lender (bank or any other agency) sends a notice of default and a specific period of time is given to the borrower to pay his due balance. Usually it is a period of 60 days. If the borrowers arrange money and pay off his installments, the auction is cancelled. But if he fails to do so, the lender decides to go for a auction to sell off the property and recover the loan amount.

How to Find Real Estate Auctions

The other reason when a property is put up on auction is when the owner is not able to pay state or local income taxes. Then the concerned agency can go for the sale of their property which is conducted under a court order.

To know how and where to find properties that are being sold at auction is another important factor to earn as a real estate auctioneer. It makes this business less competitive and hence this aspect is of great significance to get success in a real estate auction business.

How to Find Real Estate Auctions

There are lots of sources available for finding real estate auction listings. These are as under-

  • Newspapers are the best source to start finding auction notices. They publish legal notices of the upcoming auctions in your city/state. Check the real estate classified ads in your local newspapers to find the potential auction listings.
  • You can find the auctions listings on government websites too. Many properties are seized by the govenment agencies on account of unpaid taxes.
  • By visiting the popular auction websites you will get complete list of the foreclosed properties which are likely to go for a auction. These sites contains all the information regarding the property and the date and location when the auction will be held.
  • There are a couple of dominant online listing services which offer complete details of the upcoming auctions in your area. Check out these sites and you can collect all the information you need.
  • You can also ask your real estate agent and city auction houses about what properties are coming up for auction. They often have complete information about when and what properties are planned for auction.
  • Professionals like local lawyers and accountants who deal in bankruptcy or real estate matters can also provide you with preforeclosure information about investment properties you are looking for.
  • Banks and lenders are also good sources of information when you are looking for upcoming real estate auction opportunities. Banks are entitled to publish a notice of all the properties which are pending to auction. Connections with these agencies will give you a constant flow of information within the real estate industry.
  • The local court houses of the city also has a list of all the properties that are headed for auction. You can search through these public records to find out the potential listings which is completely free of cost.

How to Find Real Estate Auctions

Auctions are generally held at local court houses but they can also be organised at conference halls or real estate agency offices. They can also be conducted online.

All these sources mentioned above contains a complete detailed information regarding the property and the auction registration requirements so review carefully before you go for a property to bid on.