We all know the number of homes going into foreclosure is skyrocketing. What happens to all these houses that go into foreclosure? Many are sold at the foreclosure auction or Sheriff Sale but the majority of them are not selling at the auctions and are being repossessed by the bank. The banks or lending institutions then attempt to sell them on the open market typically through a real estate agent.
The problem the banks and lending institutions are facing is the sheer volume of properties that are being repossessed. They are struggling trying to deal with all these homes. As a result, they are increasingly turning to auction companies to take these properties off their hands by selling them at a public auction. I‘ve listed three of the more active auction companies that are dealing with these properties and their respective websites. This is a great place for investors to be looking for good deals.
Williams and Williams
www.williamsauction.com
Real Estate Disposition Corporation
www.ushomeauction.com
Hudson and Marshall
www.hudsonandmarshall.com
Posted by Carter Brown
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