Auction of Nearly 300 Foreclosed Indiana Homes Brings Great Buying Opportunity

. February 12, 2008

INDIANAPOLIS, Feb. 12 – Combine plummeting home prices, with mushrooming inventory and low interest rates and you have all the ingredients for a buyer’s market. With the cards stacked in their favor, buyers are in relentless pursuit of the perfect home at the perfect price and discovering foreclosed real estate auctions can deliver both.
Hudson & Marshall, America’s most experienced foreclosed real estate auction firm, will auction nearly 300 bank-owned homes in various cities throughout Indiana February 18-24. Over 100 homes will be auctioned in Indianapolis on February 24. The homes are owned by national lenders and are vacant. Winning bidders will be required to make a cash or check deposit of $2500 or 5% of the total sales price, whichever is greater.
“Our auctions are part of the solution in correcting or right siding today’s weak real estate market,” remarked Dave Webb, principal Hudson & Marshall. “Foreclosed or bank-owned real estate auctions not only allow buyers to find great values on properties but also put new owners into vacant homes, which helps increase property values and improve communities,” added Webb.
Indiana has been plagued by foreclosures over the last year. According to Realtytrac(R), Indiana’s foreclosure rate ranked 10th in the nation among the states with a total of 52,930 filings in 2007.
Valued from as little as $750 to $256,000, there is a home within every buyer’s price range. Another benefit to purchasing homes through auction is each home comes with guaranteed title insurance paid for by the sellers and contracts close within 30 days. Homes are sold “as-is” and buyers are encouraged to preview properties in advance of placing bids. Interested buyers may preview properties during the open house February 16 and 17 from 1:00pm-3:00pm or by contacting the listing agent. Complete details may be found at http://www.hudsonandmarshall.com/.
Homes will be auctioned on the following dates: February 18 in Muncie; February 19 in Kokomo, Lafayette, and New Albany; February 20 in Evansville, and Fort Wayne; February 21 in South Bend and Terre Haute; February 22 in Gary; and February 24 in Indianapolis.
Prior to the auction, buyers can purchase property online by visiting http://www.hudsonandmarshall.com/ and clicking on the Bid Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means the sellers have the right to accept or reject any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.
About Hudson & Marshall of Texas Inc.
H&M is America’s Premier Auction Authority. Our 38-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M’s streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 40,000 homes throughout the country. See more about H&M at http://www.hudsonandmarshall.com/

Category: Auction News

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