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Tips for purchasing property through government auctions


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Tips for purchasing property through government auctions

  1. 1. Tips for Purchasing Property through Government Auctions
  2. 2. Tip 1: Remember that you are usually purchasing the property on an 'As Is' condition, which more than likely means that there is no representation as to the physical condition of the property or warranty against any physical or other defects.
  3. 3. Tip2: If at all possible try to view the property prior to government auctions. Most of the time you may not be allowed to view any building interiors or inspect the property grounds prior purchasing. Most certainly there will be no refunds and no responsible party to be held accountable for hidden issues discovered after the purchase.
  4. 4. Tip 3: Try to obtain reliable listings for any government auction. This will help you ascertain the values, conditions and selling speed of other properties in the government auction area. A local reputable realtor may also be helpful.
  5. 5. Tip 4: Be prepared ahead of the government auction to initiate your financing for your offer. Get your financing in order. Remember that CASH rules in the world of government auctions and quite often wins out over financing; however, just in case, you do not want to lose out on your purchase by not having prior proper financing in place.
  6. 6. Tip 5: It is not likely to happen prior to a government auction; however, if it should be possible try to have a Home Inspection performed by a reputable and licensed Home Inspector on any building properties you are trying to obtain.
  7. 7. Tip 6: Government auction seized property, homes and/or lands will have no active liens; however, once you have completed your purchase be sure to obtain Title Insurance to protect yourself from any technical blunders that might have left any loopholes.
  8. 8. Tip 7: Government auctions can lead to owning a fine home for very little money to successfully obtaining many investment properties for future development or profitable sales of your own, but be sure to avoid being left behind in locating and obtaining government auction properties by using both reputable online auction sites and by obtaining the services of a reputable and trusted real estate agent... both of which can assure you the very best deals.
  9. 9. Get the latest and most reputable online information for government auctions here: