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Buying a home at auction: Hudson & Marshall

Based in Dallas, HudsonandMarshall.com is a family business that has been up and running for more than five decades.  According to the site, their sales over the past five years have reached more than $5 billion, and they’ve sold more than 100,000 properties over the past 13 years.

HudsonandMarshall.com hosts auctions in every state, and do in-person auctions as well as those that take place only online. All auctions are open to the public. When it comes to buying real estate at auction, there are many who are worried they’re going to be responsible for paying back taxes or liens, however, buyers through HudsonandMarshall.com are not responsible for either unless it’s detailed in the terms and conditions of the specific property.

On HudsonandMarshall.com, you can place a bid on an auction, and you’ll win if you’re the highest bidder, and then there are properties that have a set reserve price. Regardless of whether or not you’re the highest bidder, the seller may or may not accept the winning bid. Please note that not all listings accept financing, so it’s important to read through each page carefully before bidding.

When it comes to bidding on an auction, buyers must agree to certain terms before placing a bid. For example, contracts must close within 30 days, properties are sold “as is,” a letter proving you can pay is necessary, and 5% Earnest Money must be paid. The seller is responsible for paying the Title Insurance.

Sample Hudson Marshall searchShould you participate in a live auction, you have the availability to see the property during an open house, which is typically held within a few days before the auction. There are numerous items you need to bring with you to the auction including proof of funds, a government issued photo ID, and any necessary funds. You will be required to contact the listing agent ahead of time to set up an appointment.

Listings do not contain much information, so if you want additional info, you’re going to have to do some digging. Each page contains photos, a map, basic property information such as the square footage and number of bathrooms, the listing agent name and license number, a map of where the property is, the address of the property, and a few additional tidbits, such as if it’s located in a 55+ community and whether it’s an owner occupied property.

If you have a property to buy or sell, check out HudsonandMarshall.com to see if the site could be an asset to you.

 

Visit Hudson & Marshall’s Website

Author:  TJ-Google+

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