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Allow us to automatically notify you of when and where the next auction event of lender foreclosed properties are taking place.
Notify me when an auction is
taking place in:
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| REDC (www.USHomeAuction.com) makes purchasing real estate at auction an easy, fun, and unintimidating process! |  | |  | FIRST, click on the calendar page to learn when and where the next REDC Auction of Lender Foreclosed Homes will be conducted.
 | | | | REVIEW the available properties. Each property will have a written description, pictures, maps and other relevant documentation and disclosures. Do your research! Investigate the properties and information about them prior to the auction.
 | | | | VISIT and inspect all of the properties you would consider bidding on. Make an informed buying decision. Go out and thoroughly inspect and investigate each property you are interested in as well as inspect any related legal and disclosure documents you believe necessary to make an informed buying decision. Do this prior to the auction day during the many open houses. | | | | REGISTER – Be sure to pre-register for the auction! It’s easy and it’s free – simply click the tab at the bottom of this page. You can also pre-qualify for financing with no cost or obligation through designated lenders. These lenders offer competitive, no-hassle financing options…many with NO POINTS, and NO PRE-PAYMENT PENALTIES. Click on the Pre-Qualifying box to learn more.
 | | | | ATTEND the Lender Foreclosure “EVENT” auction of your choice. Registration is FREE and admission is FREE. The only thing we require you to bring is a $5,000.00 cashier’s check made payable to yourself, a method ( cash or personal check) to put down the required 5%* earnest money deposit and valid picture identification for all parties to the transaction. | | | | CHECK-IN –When you arrive at the auction, you must check-in, even if you pre-registered. You will be asked to show us your identification and your $5,000.00 cashiers check or cash for the earnest money deposit (we will not take it at this time). You will be assigned a bidder number, given your numbered bidder card and allowed into the auction hall. This will be our way of identifying you if you are the lucky winning bidder for a particular home. | | | | GET STARTED –The bidding is fast and exciting. About a half hour prior to the start of the auction, the auctioneer will conduct a Bidding Seminar and Practice Auction to give everyone an idea of just how the auction process works and the pace of the sale. We will also have many bidder’s assistants throughout the audience to assist you in bidding for the duration of the auction. | | | | BID –When one of your desired properties comes up for bidding, raise your bidder’s card high so your bid can be acknowledged. As the bidding progresses, continue to bid up to your maximum amount. If you are the high bidder and the auctioneer bangs his gavel and announces SOLD*………CONGRATULATIONS!! Remember: A 5% “Buyers Premium” will be added to all winning bid amounts to establish the total purchase price. Example: Your winning bid amount = $200,000 plus a Buyers Premium of 5% of $200,000 ($10,000) is added to your winning bid amount which makes the Total Purchase Price =$210,000……..It’s that simple! | | | | FINALIZE –You will be presented with the Winning Bidder Confirmation sheet to sign. This will identify the specific property you bid upon as well as the winning bid amount, buyer’s premium and total purchase price. You will then be escorted to the documentation area. Financing opportunities will then be discussed with designated lenders and documentation of the transaction will be completed. During this time, you will endorse your cashier’s check over to the closing agent (a major title or escrow company or closing attorneys) as well as your provide your personal check or cash equal to 5% of the total purchase price to make your auction day earnest money deposit. Escrow will then be open, financing type chosen, purchase documentation executed and on your way to home ownership.
Example: Winning Bid Amount = $300,000, plus $15,000 Buyers Premium (5% of the winning bid amount) = Total Purchase Price of $315,000. Total earnest money deposit due on auction day is 5% of the total purchase price = $15,750 (5% of $315,000). After crediting your cashiers check of $5,000 = $10,750 remaining to be paid by personal check or cash on auction day. | | |
| IT’S THAT EASY!
REMEMBER, if you plan to purchase a property at the auction, you must: - Have a $5,000 cashier’s check (or cash) made payable to yourself.
- The available funds to write a personal check or pay cash for the balance of the required 5% earnest money deposit due on auction day.
- Valid picture identification for all parties to the transaction.
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| We look forward to seeing you there. Register TODAY! Pre-Qualify TODAY! |
*see auction terms and conditions for more information. |
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