This 2008 Yamaha YZF Motorcycle can be yours soon if you win it at this online auction. Yamaha makes a lot of different electronics items and goods but their bikes have been around for a very long time as well. A Yamaha bike like this can get you anywhere you want to go in a super fast manor! This bike comes in a fantastic yellow color and can be the thing that sets you apart from the rest of the pack. It has a manual transmission, 4 cylinder engine, factory wheels, cool flames on the side, a couple of scratches, and vinyl seats. This bike may need a tune up or some knowledgeable hands to get it functioning in prime condition. You can do it! Just remember this auction won’t last forever. The current bid on this bike is only $2,778 with the auction ending March 28. Find out more about this item and about many more government auctions by activating your free trial account now.
This 1998 BMW Z3 Roadster can be yours at this current online auction. BMW makes a pretty fine luxury car and when you step inside this roadster you will know why the BMW brand is top of the pops with lots of car drivers. This car looks like it has not been driven in a while but remains in great shape. You should get it tuned up and checked out when you win. Plus, because of this auction you could probably score this automobile at a great deal. It’s located in West Virginia and can be yours in a few days! This is a convertible with a 5 speed manual transmission, 2 doors, AM/FM stereo, air conditioning, cruise control, power brakes, power seats, power windows, and tilt steering. The current bid on this item is only $3,388 with the auction ending April 4! Find out more about this item and about many more government auctions by activating your free trial account right now.
This 2007 BMW 650iC can be yours soon if you win this upcoming online auction. BMW makes a lot of great luxury vehicles and can definitely get you where you need to go. This BMW looks like it’s in pretty excellent shape and was probably very well taken care of. It features a V8 engine, automatic transmission, wood-grain dashboard, alloy wheels, tinted windows, and only 37K miles. This car is only 5 years old and still has lots of life left in it. Did we mention that it is also a convertible. With summer around the corner this is just the car you need to take you where you need to go and in style. This auction is taking place next month and could save you a ton of money when you bid. You would be surprised at how much time this car would save you from getting one place to another. Find out more about this automobile and about many other cars by activating your free trial now.
If you have always wanted to own a helicopter then you should definitely check out this McDonnell Douglas Helicopter that is up for online auction right now. This chopper would be a great way to get around especially if you know how to fly them and fix them. Plus, having a license wouldn’t hurt at all. This chopper is located in Arizona and can be picked up at the auction site. This machine looks like it is in pretty good shape but may need some windows and propellers. Once you figure out how to transport it and fix it, the sky would be yours! You could paint it an awesome color and even give it a cool name. It would be a fun recreational vehicle or even a way to make a few bucks. The current bid on this item is only $2,500 with the auction ending next month! Find out more about this item and about many more government auctions by activating your free trial right now.
If you are looking for a new tent for when you go camping this year then you should check out this current online auction for an 18 Foot Yurt Domed Tent. This tent would have plenty of room for you to live luxuriously on the camp grounds. You would have plenty of room to hang out, sleep, stretch out, invite campers over, and avoid bears! This white tent would be great for camouflage in the snow if you were going on a winter camping trip. It is located in Guam and can probably be shipped to you unless you live in Guam, then you could just pick it up because it would be right there. You could probably get a steal on this item! The current bid on this item is only $10 with the auction ending very soon. Find out more about it and many more items by activating your free trial account right now.
This 1994 Ferrari can be yours at this upcoming live auction! Have you ever wanted to own a Ferrari? Well, now you can! Once you set foot into this sweet ride you would be able to jet on down the highway like a real pro! Enzo Ferrari would be looking at you like a proud papa if you took this car in to get tuned up and made good as new. Even though this car is almost 20 years old, it is still a Ferrari and it looks like it is in pretty excellent shape. It actually only has around 8,000 miles on it. The Ferrari is one of the sweetest rides you will ever step foot in. It would be a great car for a first someone who is going away to college and wants to make an impression. This Ferrari would be a really nice investment for any car collector as well. Find out more about this item and about many more government auctions by activating your free trial now.
This 2003 Harley Davidson Ultra Glide is currently up for online auction and can be yours soon. If you want to prepare yourself to be king of the wasteland then this is the bike to do it on. This bike features a black and silver exterior, saddlebags, 2 cylinder engine, front visor, and room for one more. This would be a great bike to take those long Sunday drives with. You could really see the country on this bike alone and pack all the supplies you need right on the side saddle. This bike is located in West Virginia and it can be picked up right from the auction site. It would be a nice ride for any motorcycle enthusiast and bike fan. Just imagine all the fun times you could have with this vehicle! The current bid on this item is only $3,659 with the auction ending very soon. Find out more about this bike and many more by activating your free trial account right now.
This 2008 Ford Expedition XLT is currently up for online auction and can be your very soon. Ford makes a pretty sturdy and dynamic truck. You will not have to worry about room with this item because it looks like it is pretty ginormous. Ford trucks are known for their resiliency, hauling power, style, and overall bigness. This truck features 4 x 4 wheel drive, automatic transmission, 8 cylinder engine, power steering, power brakes, power windows, power locks, power doors, power everything, leather interior, and much more. This truck is located in Utah and would be a fine addition to your family or company. The current bid on this automobile is only $10,819 with the auction ending February 25. Do not waste any time by sitting there doing nothing. Find out more about this item and about many other government auctions by activating your free trial now.
This current online auction is for a lot of Over 20 Monitors. These computer monitors would come in handy if you decide to hook them up to computers so you can finally see what’s on them and surf the web. These monitors look like they are in great shape too so if you don’t really need that many you could sell the rest and make a pretty sizable profit. Computer monitors can be a real asset to a new office because you could get this lot for a great price and outfit your employees desks with them no problem at all. Dell makes a fine computer product and when you see these computers in action, you will know the difference. The current bid on these monitors is only $145 with the auction ending on March 30. Find out more about these items and many more auctions by activating your free trial now.
If you are looking for that boat to call your own, then you should check out this current online auction for a 1980 20 Foot Boston Whaler. This boat is located in Utah and can be yours soon. You should bring it out to the ocean and really see what it can do. This boat comes with its trailer so you can hitch it up to your car or truck and be well on your way to some boating action. If fishing is your thing, then this boat would help you tremendously! All you would have to do was tune this boat up and maintain it before it touches the water. This sea worthy craft would be a great way to enjoy your summer time. It is right around the corner after all. The current bid on this aquatic machine is only $950 with the auction ending this week. You can find out more about this item and about many more government auctions by activating your free trial account right now.
Summer is almost here and you know what that means, right? It’s time to his the waves, dude! If you want to go surfin’ now, every body’s learnin’ how, want to go surf-a-safari or whatever, then you should check out this current online auction for 5 Water Knee Boards. Sure, they may not be full fledged surf boards, but you can still experience the thrill of the waves and the action of the surf. The surf will be truly up if you wanted to hang knee over the side of these single person water floaters. These devices are located in Alabama and can be shipped out to you with the tide as soon as you win. These are great for fun and for practice. Plus, they are great for all ages. The current bid on these items is only $33 with the auction ending February 24. You can find out more about this lot of items as well as about many more government auctions by logging in here.
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Foreclosure Investing Tutorial
Straightforward Tutorial on Foreclosures, Pre-Foreclosures and REOs
To start, when an individual takes out a mortgage
to buy his or her house the bank gives the individual a loan, but secures
it with the real estate in question. Thus, whenever you take out a
mortgage, you execute two documents: one is the actual note for the
mortgage loan, and the other is the security agreement specifying that, in
the case that you default on your mortgage payment, the bank can foreclose
on the real estate you are buying and that you put up as a security.
If, Heaven Forbid, one does end up in serious
default with mortgage payments, the bank will prepare, send, file, and
record a document known either as Notice of Default or a Lis Pendens, the
latter meaning literally that a lawsuit is pending. These documents simply
let the outside world know that a foreclosure action has begun.
The two documents for the most part mean the same
thing, except that a Lis Pendens is utilized in states when there are
judicial foreclosures – that is, where the court is involved in the
foreclosure process – and a Notice of Default is utilized in states with
non-judicial foreclosures – where court is not involved, and where
instead once certain requirements are met, the lender can conduct the
foreclosure on its own. (Some states — commonly known as hybrid states –
also have a mix of a judicial and a non-judicial foreclosure processes.)
The period from the time of the Notice of Default
or Lis Pendens, to the actual foreclosures sale is the first stage of
foreclosure, and the first opportunity for the general public to buy up
potential real estate bargains. Here, one can approach the owner of the
property and offer to buy the house before it gets sold at the foreclosure
auction. Buyers can actually get a great bargain here by offering the
homeowner less than the equity the homeowner has in the house. This way,
the homeowner can avoid losing the house completely, and can even walk
away with a little cash in his or her pocket. This is a very lucrative
stage to buy. Your bargaining leverage at this point is tremendous
the homeowner lets the home go to foreclosure, he/she will lose it
homeowner’s credit will be ruined;
if the subsequent foreclosure auction does not fetch enough of a
price, the lending bank can go after the homeowner for a deficiently
on the other hand, can walk away with a great bargain!
If the owner is unable to sell the property before
the auction takes place or if the default is not otherwise cured before
the scheduled foreclosure sale, the house will go to sale and the referee
or trustee (in many cases, the county Sheriff) will sell it to the highest
bidder to attempt to cover the outstanding mortgage balance plus expenses.
This represents the second stage of the foreclosure process, and yet
another opportunity to buy up a bargain property.
Once the date of the auction is at hand, the
trustee will auction the house off to the highest bidder. At this time,
most banks and other lenders will pay off any outstanding debts such as
property taxes or amounts owed to the IRS so to be able to to sell the
foreclosure real estate with a clear title. You should also know that most
often, the bank will submit a credit bid, which is simply the outstanding
loan amount (along with any other out-of pocket costs), and so the bidding
will not begin from zero.
That having been said, buying property at a
foreclosure auction is an experience unlike any other in purchasing real
estate. Although it can be a risky venture, it can often also be very
lucrative. Consequently, while you should try to participate in
foreclosure auctions, first-time and inexperienced investors should tread
very carefully. In contrast to an ordinary real estate sale, most times a
potential buyer will not even be allowed to inspect or survey the property
prior to the auction. Partially as a result of that, and owing partially
to the fact that one will have to come up with the entire purchase price
in cash over a short period of time, a purchaser at a foreclosure auction
would likely have to find nontraditional financing and then later
refinance to a more traditional mortgage.
Although very rare, buying real estate at a
foreclosure auction comes with at least the theoretical possibility that
the former owner will exercise his/her right of redemption by coming up
with the cash to buy the house back within a certain allocated period of
time after the foreclosure sale. (Although many jurisdictions do not have
right of redemption provisions.) Another warning is that the IRS also has
several months to redeem the property if back taxes are owed. But this
rarely happens, and if back taxes are indeed owned, and the bank has not
taken care of this prior to auction, you can always calculate it and
figure it into your bidding price. The bottom line is that you should be
aware of the aforementioned pitfalls, but these same characteristics of a
foreclosure auction that make it an inconvenient and somewhat burdensome
process are what keep many reserved or timid bidders away, and therefore
allow you to bid on the property with less competition.
If you decide to attend this type of auction you’re
probably curious as to where they’re held. Foreclosure auctions are
typically held at the property’s local courthouse or at the property
itself (although this is rare.) If you’ve never been to an auction, when
a property goes up for foreclosure auction, the competition can initially
seem intimidating. Don’t let this discourage you because purchasing real
estate this way is ultimately very lucrative, and that’s why investors
and others do it. If you’re interested in attending a foreclosure auction
you should consider the following:
the condition of the foreclosed property and along with that make sure
you research any existing debts such as liens, unpaid taxes and
previous construction debts that were not taken care of by the bank.
out any possible land use issues such as zoning problems or toxic
out ahead of time the auction rules and make sure you have a good
handle on how the auction process works. One way to do this is to sit
in (without bidding) on some foreclosure auctions ahead of time.
all the calculations, decide, taking all potential costs into
consideration, what your maximum offer will be in advance, and make
sure not to go above it under any circumstances.
for any financing you may need ahead of time with short-term lenders
(sometimes known as hard-money lenders) with a view towards flipping
or refinancing later.
When a property does not fetch a high enough of a
price at a foreclosure auction – and there are various reasons for this
– the bank or lender will take the property back, and if they are an
institutional lender, the property will become known as an REO (Real
Estate Owned) property.
These lenders aren’t usually too interested in
keeping the REO for a very long, since banks are not in the business of
managing real estate, and are therefore anxious to liquidate these
properties as quickly as possible. This presents yet another opportunity
to, once again, get a potential bargain on real estate.
Investors who consider purchasing an REO usually
have two distinct advantages that they would not have had they instead
been dealing with a property at a foreclosure auction. First, the benefit
of buying in the REO stage is that you are able to inquire and ultimately
buy the property at your convenience with no auction deadline to work with
because these properties are listed with real estate brokers and, for the
most part, sold just like any other property. The other big advantage of
investing in an REO is that you have the option of inspecting the property
thoroughly before you actually close the deal, which, as mentioned above,
is an option you do not ordinarily have in a foreclosure auction. You have
the liberty to walk through the property and make all sorts of inspections
without annoying the seller – in this case, the bank since it will help
them get rid of the property. To be sure, the bank stands to gain from a
quick sale because by liquefying their real estate holdings banks can
reinvest that money back into the bank’s main business of lending. Further
banks will typically want a quick sale so as not to prolong real estate
management expenses longer than necessary. The traditional nature of the
selling process in a REO combined with the bank’s sense of immediacy
makes the REO stage a great one for beginners to take a successful plunge
into the real estate investment business.
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