Looking For Real Estate Investments At State Run Auctions
State real estate auctions sell off real estate that has been seized, abandoned, or forfeited. The Department of Treasury has been designated as the state department to handle such auctions. Usually, they conduct approximately 100 auctions a year.
The money raised from these auctions help your State Government to fund police, fire, and rescue operations. When you attend one of these auctions and place a winning bid a legally binding agreement is forged between you and the Department of Treasury.
To participate in a Department of Treasury auction, you must be at least 18 years of age or older. You can not be a State employee. Contractors, subcontractors and vendors or their representatives also can not participate. Before the auction you will need to complete a bidder registration form and it must be approved prior to auction. Properties are sold "As Is" so you will need to inspect the home prior to the auction if you want to know what condition it is in.
Other rules and regulations may be required as each state sets rules independently of one another. Contact the Department of Treasury in your state to find out what additional regulations may be in place. When you contact them find out what you'll need to do prior to the auction date to get approved. When you get approved you'll be assigned a bidding number and you'll need this number to place your bids.
In Closing
Most importantly have fun at the auction. Even if you don't place a bid, you'll gain valuable experience. If you do participate and are successful, you'll like score a very valuable piece of property which should be yield you a good return on investment. - 23305
The money raised from these auctions help your State Government to fund police, fire, and rescue operations. When you attend one of these auctions and place a winning bid a legally binding agreement is forged between you and the Department of Treasury.
To participate in a Department of Treasury auction, you must be at least 18 years of age or older. You can not be a State employee. Contractors, subcontractors and vendors or their representatives also can not participate. Before the auction you will need to complete a bidder registration form and it must be approved prior to auction. Properties are sold "As Is" so you will need to inspect the home prior to the auction if you want to know what condition it is in.
Other rules and regulations may be required as each state sets rules independently of one another. Contact the Department of Treasury in your state to find out what additional regulations may be in place. When you contact them find out what you'll need to do prior to the auction date to get approved. When you get approved you'll be assigned a bidding number and you'll need this number to place your bids.
In Closing
Most importantly have fun at the auction. Even if you don't place a bid, you'll gain valuable experience. If you do participate and are successful, you'll like score a very valuable piece of property which should be yield you a good return on investment. - 23305
About the Author:
Hubert Miles is the founder of Waterfront Houses USA, an internet advertising service that provides Riverfront Real Estate and River Real Estate in the US and Canada.
posted by Mr. Forex at
7:57 AM
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