Buy Az Auction Homes
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Buy Az Auction Homes
The Maricopa County Real Estate Department is responsible for auctioning excess land owned by the Flood Control District of Maricopa County (District) and the Maricopa County Department of Transportation (MCDOT). "Excess land" is land which was acquired as part of a project and is no longer needed by that Department.
The appraisal may take up to 90 days. After the appraisal is received, reviewed and approved by the Department, the prospective buyer is informed of the minimum bid required at auction and an auction date is set.
The successful bidder is responsible for the appraisal cost and half the cost of the title report at close of escrow. Overpayment of the Fee Reimbursement will be applied towards the purchase price of the property. Escrow typically closes within 90 to 120 days from auction date; bid package specifies the timeframe.
For further information or to request the proposed action be submitted for public auction please contact Maricopa County Real Estate Department located at the offices of the Flood Control District of Maricopa County, 2801 W. Durango Street, Phoenix, AZ 85009.
All public sales are advertised through print media and this site, so visit this site frequently for announcements of upcoming sales. A subscription mailing list is another alternative for notification of auctions and sealed bid sales.
Buy surplus property from the State of Arizona by bidding on items on sale by the Surplus Property Management Office (SPMO). The auction is held online through publicsurplus.com to facilitate transactions.
While Arizona home auctions offer a unique ability for real estate investors to grab great properties, few investors take advantage of this type of investment. If you are investing in Arizona real estate, auctions are full of opportunity, and stiff competition.
A home can go up for auction when a property is foreclosed, or a bank is trying to recoup losses of owning a property. When a homeowner misses several months of mortgage payments, the bank or other lender can place the property under foreclosure and move to get the tenants evicted. It then places the home in a foreclosure auction, which is held by bank-hired trustees.
Types of auctions can vary mostly depending on the property, loan status, and who is moving the home. Different types of auctions may only allow some types of payments, mortgages, or cash. This offers real estate investors a chance to quickly move and purchase a property without interference from homeowners.
Most homes are put up for auction after a foreclosure process, additionally, some properties have been listed on the market and have not seen activity and the lenders or banks are trying to recoup their loss. Some homes may still be occupied and others may be vacant.
Whether online or in-person, the process of bidding on properties is the same, whoever is willing to bid the most on a home usually wins the home. Depending on the type of auction or property you may have to contact a listing agent, to discover more information on which type of auction and what the requirements are.
There are many ways one can invest in auction properties. The top way Arizona real estate investors can invest in auction properties is by flipping a home, or even still rehabbing and renting a property.
Before attending an auction you should have a clear plan for what you plan to do before closing on a property. The most popular investment with an auction property is a flip, as properties are sold for well below market value and may need minimal repairs before selling or renting.
So you are hooked and want to find an auction home. Before barging into a courthouse auction you will need to see what properties are available and open for auction. Finding homes for Auction is easier than one would think! You can easily find a home for auction in the following ways:
The fastest and quickest way to find properties for auction is to check the MLS or multiple listing services. This will