Oct. 26, 2010
Dreaming to own your home is not such an un-attainable dream anymore with many real estates properties that do have a cheap price tag nowadays. How is that, you could ask and the answer is that there are the government seized real estate that are sold at low price in public auctions.
These Hawaii real estate properties that are seized by the government have belonged to drug dealers and tax cheaters who have lived in luxurious residences that were meanwhile confiscated due to various legal issues. Some of these properties are mansions, some are cabin getaways, vacant lands and even suburban houses.
Most of the times, these real estate properties that are seized by the government are 10% to 20% cheaper than those on the market. Thus for owning your dream home you can purchase a real estate property while participating in the government public auctions that are held in this purpose. The auctions can be held for selling vehicles and other sorts of properties.
Nevertheless you have to consider that you are not the only one looking to participate to this sort of auction and as such you should take into account those who are willing to outbid anyone who wants to buy the same real estate as they want. So bidding can be an issue for you.
Planning to participate in one of the government-seized real estate properties you must make sure first that you have some knowledge related to properties. In case you do not anything about real estate properties, then it is recommended that you would bring someone professional with you at the auction.
In this way you will know when the right time to start bidding is and when to stop as you wouldn't want to end up with a price that is higher than that on the market.
Inspecting the property before participating is another recommendation as the auctioneers will allow the interested ones to inspect the real estate property that will be on the sale. You should properly inspect it for nay damages both on the outside and the inside of the house. Bidding low is the first advice that one should listen to as this is a way to make the auction function into your advantage.
Apart from this just consider that government will always come with a payment plan that one can choose an installment paying for the acquired real estate property. These things should be already known by you before participating into government seized real estate public auction to make it evolve into your advantage.
Posted in Hawaii News