From Hudson & Marshall. “Dallas based Hudson & Marshall will auction the northern California homes in various cities on the following days: July 17 in Fresno; July 18 in Salinas; July 19 in Modesto; July 21 in San Francisco; and July 22 in Sacramento. Valued from $100,000 to more than $800,000, the homes come with guaranteed title insurance paid by the seller, ensuring all properties are free of any back taxes or liens.” 
“All properties are sold ‘as is’ and potential buyers should inspect homes prior to auction, so they know what they are bidding on. Interested buyers can visit properties during open house events scheduled for July 14th and 15th from 1:00pm-3:00pm. Winning bidders will be required to make a down payment of 5% of the selling price or $2500, whichever is greater, in the form of cash or check.”
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5 comments:
What a bunch of crap looking properties. You have to believe all of these will be short sales, and therefore represent a real black hole for lenders -- money went into them that will never be seen again.
eh
Here in Northern California, it's very telling that we even have auctions. A few years ago, they didn't exist. Even though these properties may be lacking in curb appeal, the fact that they have so many properties on the auction block is very telling.
I'm guessing auctions such as these are going to be the norm for the next couple of years as foreclosures continue to pile up.
Do you think that H&M pays to buyers agents ?
2% to buyers agents.
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