Hudson & Marshall will auction over 300 bank-owned foreclosures in the greater DC area and cities throughout Maryland and Virginia February 3rd-7th. All homes come with guaranteed title insurance paid for by the sellers, ensuring there are no back taxes or liens on the properties. Bidders will be required to make a deposit of $5,000 in the form of cash or certified check for each property which they are the winning bid.
“The massive volume and condition of the foreclosures entering the market daily has dramatically changed buyer’s perception about purchasing Real Estate Owned (REO) property,” remarked Dave Webb, principal, Hudson & Marshall. “In this turbulent economy, where everyone is watching each dollar, a foreclosure property in good condition is very attractive to prospective buyers looking to save money,” added Webb.
According to Realtytrac(R), 2.3 million properties received foreclosure filings in 2008, an increase of 81% from 2007. In 2008, the District reported 4,182 properties receiving foreclosure filings and Maryland reported 32,338 properties receiving filings. Virginia reported a stunning 49,011 properties receiving foreclosure filings in 2008, ranking it 16th in the nation for its foreclosure rate.
Buyers interested in attending the DC/MD/VA auction should inspect properties in advance because all homes are sold “as-is.” Homes may be viewed during the open house on January 29th and 31st from 1:00pm-3:00pm or by contacting listing agents for an appointment. Property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.
Hudson & Marshall will auction the homes on the following dates:
February 3rd – Norfolk, VA (30 homes) at 7:00pm-Holiday Inn Select
February 4th -Richmond, VA (33 homes) at 7:00pm-Holiday Inn Richmond Airport
February 4th -Cambridge, MD (7 homes) at 7:00pm-Holiday Inn Express
February 5th – Frederick, MD (9 homes) at 1:00pm-Hampton Inn Frederick-Fort Detrick
February 5th – Baltimore, MD (42 homes) at 7:30pm-Hilton Pikesville
February 5th – Culpepper, VA (9 homes) at 1:00pm-Best Western Inn-Culpepper
February 5th- Winchester, VA (11 homes) at 7:00pm-Hampton Inn Winchester North
February 7th – Washington, DC (174 homes) at 1:00pm-Hilton McLean Tysons Corner
Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.
Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company’s accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall’s total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.
Auction info http://www.hudsonandmarshall.com/
