Investor Alert: REO Auction

Hudson & Marshall, the country’s largest REO auction firm will be auctioning off more than 500 Atlanta-area foreclosure properties between January 15th and the 20th.

The auctions will be conducted throughout the state, though the great majority will be held in here in Atlanta.

A full listing of auction times, locations, and available properties is available on the Hudson & Marshall web site.

There are no minimum bids for the properties to be auctioned. Winners will be required to make a deposit of $2,500.00 or 5% of the bid price, whichever is greater. Buyers then should have 30 days to secure financing.

Estimated values of the properties range from $30,000.00 to $700,000.00 according to the Hudson & Marshall press release. Homes additionally come with owner’s title insurance, paid for by the sellers.

This is not the first REO action of Atlanta-area properties held by Hudson & Marshall, and a number of our clients who attended the first auction reported that properties were being sold at tremendous discounts.

For real estate investors looking at REOs, either as long-term holds or as quick turnaround sales, these upcoming auctions may present a tremendous opportunity to acquire properties at significantly below-market prices.