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Real Estate Auctions


Auctions in real estate come in different types.

Foreclosure Auction

When a homeowner does not pay the mortgage according to terms the lender may foreclose.  At the end of the court process. The bank puts the property up for auction to see if someone will buy the property as is where is no inspection available for a price the bank wants to recoup in expenses involved in this process.  This type of auction the buyer needs to have  a good working knowledge of the system to determine what liens may survive the foreclosure process.  A title company or Real estate lawyer can do that research.  IRS liens DO survive the foreclosure process and if you do not process due diligence in the process you could be stuck with that lien.  These are judicial sale auctions

Pasco county

Pinellas County

Hillsborough County

Manatee County

Sarasota County

Polk County

Stay tuned for more auction types next blog.  As always, a member of the Griffin Group can guide you in each of these processes for purchase opportunities.

#REO #Bankowned #shortsale #auction #foreclosure #griffingroup #CindyLukehart #TampaBay

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