COLUMBIA COUNTY NY AUCTIONS & SHORT SALES
Columbia County NY Auctions and Short sales have a long history. Traditionally lawyers have conducted foreclosure auctions on behalf of the courts, which often resulted in the mortgagee, often banks, taking the properties back rather than allowing them to sell for less than their market value. Displayed below are our newest real estate auctions and short sales. If you select the price search you will see listings displayed with the higher priced properties first.
View Our Most Recent Columbia County NY Auctions and Short Sales Listing
- Pine Plains 2BR2BA Ranch Auction12567
- Pine Plains 2BR2BA Ranch Auction. This 2 bedroom 2 bath home all wood floors, bright interior, back from road, garage on 2 acres in lovely area of Pine Plains, close to Ancram, Millerton.
- Agent Name: David Birch
- Brokerage: Pine Plains
- Cell Number: 518-928-7239
Columbia County NY Auctions and Short Sales
Occur throughout Columbia County and can be a great way to purchase property at a reasonable price. Many owners have had difficulty maintaining payments on their mortgages. Sometimes these owners will auction their properties directly.
Professional auctioneers also provide services in Columbia County NY auctions short sales. Owners in danger of foreclosure will attempt to attract buyers through real estate auctions and short sales.
Typically auctioneers for Columbia County NY auctions and short sales charge the buyer for the commission, but this adds to the price of the property. They also charge an advertising fee which in some cases may be close to 10% of the value of the property.
We often handle Hudson Valley auctions
and short sales directly for owners and banks. But our approach is much less costly for both buyer and seller. The sales commission is the same as if we were to sell the property through a regular sale. And we do not charge for advertising, unless the Seller wants special additional advertising. All bids are subject to acceptance by the Seller.
The terms and conditions of our Hudson Valley auctions follow:
1. Bids may be submitted at any time up to the designated cut-off by e-mail to firstname.lastname@example.org or by phone to 518-392-6400 or 800-398-8802.
2. Bids must be accompanied by a name, address, and phone number, which can be used for verification of bid. The time frame for bids may be extended at the sole discretion of the Broker.
3.The successful bid is the highest submitted bid, which is accepted by the Seller.
4.The successful bidder will have 24 hours to sign a standard form Capital District sales contract which accepts the condition of the property “as is” and includes a 10% deposit. If not signed within 24 hours the Broker will contact the back-up bidder.
5. At the signing of the contract the seller must provide an Attorney’s name to be included in the contract, along with phone and fax numbers, or a statement to the effect that he/she is not using an Attorney.
6. Once signed by both parties, the contract will be faxed to the attorneys for the buyer and the seller. 7. If either attorney objects within 72 hours the contract will be cancelled and the deposit returned. If neither attorney objects the contract shall become firm and the deposit is non-returnable, except if good title cannot be provided.
8. Closings are ordinarily set for 30 days after the contract is signed by both parties, but may be extended by mutual agreement.
9. At the Seller’s discretion a mortgage contingency may be included in the contract.
You will see properties listed by a range of agents from a range of real estate companies. Call the agent directly or if you prefer call our 800 number for immediate assistance. We have agents particularly well versed in real estate auctions short sales
Typically when banks auction foreclosed properties, they bid at the auction and take possession of the property, rather than allowing the sale at the low auction price. The result has been a high level of bank owned properties.
This trend was further reinforced by the prevalence of owners who could not make payments and instead of facing foreclosure decided to give a deed on the property back to the bank.This practice described as “ a deed in lieu of foreclosure” saves both parties the expense of going through the foreclosure process.
An alternative to foreclosure and “a deed in lieu of foreclosure is the practice of a “short sale.”
In this situation the bank and the owner acknowledge that the value of the mortgage on the property exceeds the market value of the property. In order to sell the property the bank and the owner agree to work together to find a qualified buyer. The bank is often willing to accept an amount less than the mortgage rather than go through the foreclosure process with its added costs.
Many banks hire companies to handle their real estate auctions short sales and place their listings with real estate brokers. In some cases they try to sell them directly. While banks often sell their properties at attractive prices, the process of purchasing bank owned properties, or “short sales” may involve long time frames.
Because of the work involved in real estate auctions short sales, agents may ask that you enter into a buyer agency agreement for representing you on these properties. This allows the agent to work on your behalf and know that if a sale goes through they will be able to collect a commission.
If you want to explore other websites devoted to auction properties, try the following:
1. New York State website for marketing surplus real estate www.ogs.ny.gov/BU/RE/LM/ssrp.asp
2. New York State residential real estate www.propertyauction.com/Residential-Real-Estate-Auctions-in-New_York.cfm
3. Residential and commercial real estate in New York www.auction.com/all/ny/
4. New York State foreclosed and bank owned properties nyforeclosures.com/
5. New York State tax auctions www.nysauctions.com/
6. HUD Foreclosures www.hudforeclosed.com/hud-homes/new-york-government-foreclosures
7. Williams Auctions www.williamsauctions.com/com/rties
8. Hubzu www.hubzu.com/
9 J. J Manning www.jjmanning.com/
We can provide professional assistance with Hudson Valley Real estate auctions and short sales. Select one of our skilled agents in the Town you are interested in. Or contact us at 800-398-8802. For additional information click on Just for Buyers or Just for Sellers on the left margin.