Where Can I Buy Homes For As Little As $10,000?
The last couple of years have seen a spurt in attendance at government real estate auctions. The concept of buying bank or government seized real estate from these auctions has gained popularity due to the realization that many kinds of real estate including family homes, multiple unit houses, apartments, townhouses, commercial properties, land and vacation homes at very high discounts. Buying from these auctions can take off almost 80-90% of the market value.
A seized property is a property which has been repossessed by the lender (could be a bank) since the owners defaulted on mortgage payments. This process is also called foreclosure. In addition to this, home or property may be seized by the government due to criminal activities or for evasion of taxes. It is difficult to believe but, properties seized annually are a few hundred thousand.
Since the volume of seized properties has risen, the banks or the government feel the burden of maintenance and resources needed to keep them secure, not to mention the enormous amount of capital involved, they try to recover some of the money by conducting government...
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