| The National Auctioneers Association says real estate | | | | bargain, the ceiling won't leak or the floor won't cave |
| auctions are the fastest growing auction type right | | | | in. Knowing how much money you'll need to make |
| now with annual sales rising at least $2.2 billion in the | | | | the home livable can be pure guesswork. The home |
| past year. That's a total of $58.5 billion in real estate | | | | could also have deed and title problems that turn a |
| sales for 2007 alone. Fueled by a rise in foreclosures, | | | | good deal into a bad one after you've made your |
| it looks like this market is just heating up. Currently | | | | purchase. If you're not familiar with the neighborhood |
| the statistics say that people will drive up to 1.3 hours | | | | or area, you have no way of knowing what the area |
| to attend auctions of interest and 75% of them | | | | is like or what homes are priced at in the |
| bring the whole family. But what happens when you | | | | neighborhood and there could be widespread issues |
| mash the trend to buy and sell homes at auction with | | | | related to that location. So buyer beware. In cases |
| the Internet? | | | | where the home or property is in a rural or remote |
| A quick search for online real estate auctions pulls up | | | | area, there may not even be a road to get to it! Do |
| dozens of sites that cater to buyers and sellers | | | | your homework - what looks like a great deal on the |
| reaching out to a worldwide audience. Now people | | | | Internet, might be a money pit in RL. |
| can attend auctions anywhere from the comfort of | | | | Having a real estate agent on your side can make all |
| their homes. You've got eBay, RealtyBid, Bid4Assets, | | | | the difference. Agents that are familiar with houses |
| even the US government in on the action. But what | | | | that have recently sold in the area will be able to give |
| are we looking at here? Is this the peanut butter in | | | | you a clearer picture of the home's value and what |
| the chocolate or just another online novelty? Well, | | | | to expect when you open the door. Specialized |
| according to the FBI's Internet Crime Complaint | | | | knowledge like the history of the neighborhood, the |
| Center, 45 percent of all Internet fraud involved | | | | age of the building and the types of problems |
| online auctions in 2007. But you wouldn't shell out | | | | encountered by other homeowners in the area can |
| several tens of thousands of dollar with out checking | | | | arm you before you bid. A real estate agent can also |
| into a few things first would you? | | | | help you sort out the paperwork in advance and put |
| Many of the difficulties that arise with buying homes | | | | you in touch with other professionals so you avoid as |
| in online auctions are the same as those with buying | | | | many surprises as possible. |
| at regular auctions. Homes that are in foreclosure are | | | | Interested in learning more about buying |
| often not available for inspection and buying them | | | | foreclosures? Contact Rob Muller, specialist in Metro |
| amounts to a bit of a gamble. There's no guarantee | | | | Atlanta real estate and Cherokee County |
| when you open the door and walk into your new | | | | foreclosures. RelyOnRob. |