Auction Power Guide

There is a home I’m intersted in purchasing and it goes up for auction tomorrow 2/5/13. However, the residents are still living in the house. How long can they live there after the auction? When can I get in to look at the house?

the only way you would be able to get into the house to look at the house is if the current owners would allow you into the property.

Until after the foreclosure sale, the current owners are still the owners.

Once the auction is complete the property then would become the highest bidders property or if there is no higher bidder then the bank would take the property as collateral or a Real Estate On Hand (REO) of the bank.

Even with the property changing hands at the auction, it would take several business days before the proper deeds to be signed and recorded at the county recorder’s office where the property is located, before the new owner would have legal ownership of the property.

It would be difficult to determine when the property would be assigned to a real estate agency for sale. Each mortgage lender have their own procedures as to when they would assign their REO property to a real estate firm.

You might consider going to the auction and making the opening bid. Keep in mind that the lowest bid would be balance of the mortgage loan as well as any and all foreclosure fees. This bid might be more than the value of the property.

You could find out the mortgage lender and address that own the property at the foreclosure bid from the auctioneer.

You could send a bid along with a check for a deposit. At times the mortgage lender might accept this type offer.

Failure of the mortgage lender to accept your mail in offer, you would be required to wait until the property is placed for sale through a local real estate firm, who will eventually place a for sale sign on the property.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

As we all know, online penny auction has become more and more popular throughout the world with an increasing number of followers. But there are also some bad comments about it. Should I believe in this kind of online auction?

It is a scam. Here’s a good tip: anytime it occurs to you to ask whether something is a scam or not, it’s a scam.

Here’s how penny auctions work: A seller lists a valuable item for the unbelievably low price of a penny. Then, bidders compete with one another to win the auction, with each bid only increasing the cost by one penny. At the end, someone wins a sports car or similar for $118.96. Sounds amazing, right?

Wrong. To use these sites, you have to BUY bids. Each bid that you place costs you an exorbitant amount–something like ten bucks. "Okay," you might be telling yourself, "Ten bucks plus $118.96 is $128.96. That’s a steal for a sports car!" It’s not that simple. For EACH bid, someone paid $10, which means that car went for $11,896 worth of bid fees, plus the winning amount of $118.96, for a total of $12,014.96 to the seller.

All you do when you bid on those sites is pay $10 toward an item that somebody else will win. If you’re the final bidder, that’s great, but the auctions extend for 10 minutes every time somebody bids. You and ONE other person could be bidding on the same item for hours or days, and at the end, you’ve both spent thousands of dollars on bids for something that only one of you will win.

It’s a scam, plain and simple. Things that seem too good to be true ARE too good to be true.

Houses for sale at a forclosure auction, they ask for down payment immediately, the remaining with 24 hours. Where do youget the funds for that immediately?
The details are as follows: 10% of successful bid immediately at conclusion of auction, balance by noon the next business day, both by cashier’s check. Assuming I have the down payment, how do I secure the rest of the funds before the auction starts? Not enough in home equity so forget that. Any thoughts?

When you are purchasing a property through the foreclosure auction, the person conducting the auction has to verify the funds prior to the auction.

At the auction you must have cash or a cashier check and that’s the bottom line. There is no down payment, You have to have the full bid price in order to be successful at the foreclosure auction.

There is no 24 hour period in order to get or secure the funds. If you don’t have the funds at the auction you can not bid or be allowed to bid on a property.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Auction Bids To Zero

How about online auction sites where the item gets cheaper with every bid that comes in. How interesting is that? This particular auction house category is titled….’Bid to Zero’.

Imagine if you were bidding on a car or any top brand product….and your bid….did get to zero! Forget it….it won’t happen. Someone will zap it up before that possibility!

With these auctions….the item starts off at the normal sale price….and then goes down with each bid.So if it reaches a price that someone is happy to pay….that’s it….sold. Really….won…would be more accurate.

Reverse Auctions

To continue the same scenario as above, while an item price is being bid down….there could be twenty people biding. Out of those 20 bidders….5 bidders may be looking at paying….say….$500 for the item. All five bidders claim the bid at $500. In this case the online auction sites use a special formula to decide the bid winner.

Another auction bid type is the unique reverse auction. As the name suggests the above scenario does not happen.The bid has to be ‘unique’. To add to that….there are two variations.

1. Highest unique bid….unmatched at the close of the auction….wins the biding.With these the maximum bid is set at a below normal sale price.

2. Lowest unique bid….has to be unmatched at the close of the auction. Another couple of bidders could of each bid…an identical lower price, but their bid would not be unique. With this type of auction the starting price would be at the normal sale price.

You can see that internet technology is the catalyst for these auctions. Offline….the purpose of an auction is to attain the highest possible bid price. The Collins Dictionary defines an auction as ‘a public sale where articles are sold to the highest bidder’. The emphasis with reverse auctions…seems to be more on its competiveness…as opposed to the actual price.

The Next Generation: Social Competive Interaction

It should never be forgotten that the primary purposes of the online auction sites are to sell products. Because the items are sold at a fraction of their normal price…is neither here nor their. It is great for the successful bidders, but every auction bid is paid for. I’ll explain that further.

To participate…you register online,select a username and get some ‘bid credits’. When you go to the site and login with your username….you’ll see your available ‘bid credits’ displayed. As you bid…the number of available bids reduces. If you’re biding on the ‘Bid to Zero’ auction house….the bids are 50cents to 66cents each. That bid puts the item price down 20 cents. The residue….the difference in the bid cost and the item price reduction….goes to:

1.The cost of the purchase of the item

2.The cost of the freight and handling to the winning bidder

3.To administration costs of the online auction sites and their profit

All the costs are taken care of…by the participants purchase of ‘bid credits’. So the emphasis….as I alluded to earlier…is towards the competive nature of the participants. Social competive interaction online….expressed in a style of auction entertainment….WOW! Whenever I was biding at an (offline) auction….I never saw it as entertainment….except when the Guy chasing flies…had an item knocked down to him. That gave everyone else a laugh!

Internet technology has made this form of social competiveness possible. Not the same as the ‘survivor series’ on TV….but maybe more rewarding.

New International Internet Auction Site

A United States company is the latest developer of one of these online auction sites. In building this new system they have gone with quality top brand products to offer. It would be fair to say they have picked the eyes out of the best methods…currently used in similar European auction sites. Eventually they will have as many as eight auction houses…all with various auction styles.

They are making the auctions available on an international basis. Something the other auction sites have been slow to do. I have been advised that they will probably have special delivery arrangements for large items won by bidders living outside of the US…..makes sense!

You Can Become a Business Associate

Also different about this new auction entertainment website is that a business opportunity has been incorporated. Business associates will be able to market the opportunity for the specific purpose of encouraging people to buy bid credits.

What seems sure…is that this social competive interaction as they call it…is highly likely to be very popular. Therefore the business opportunity will very likely….be lucrative!

My Summary

Are these real auctions? You can look at it this way:

Those auction houses where the bid causes the price to rise….even if the rise is fixed at only a penny or a nickel for each bid…do qualify under the definition of an auction.

The auctions where each bid causes the item price to fail….surely are not auctions….but ‘reverse auctions’. As in ‘done’ and ‘undone’.

These online auction sites are a new marketing outlet for the product manufacturers and merchants.They are good business for the auction sites, who make their money on shifting quality products. The bidders could pick-up a new car or TV or computer or a million dollar life insurance policy….for example. Also they could do that for an outlay of $20 worth of bid credits and a whole heap of fun! That seems to make online auction sites….a win-win-win situation….for all participants!

Darcy John
http://www.articlesbase.com/online-business-articles/online-auction-sites-where-the-bid-lowers-the-auction-price-671089.html

Selling merchandise on eBay is effective and easier with auction software. If you use eBay auction software when you are attempting to sell on eBay, you will be able to make your site look a lot better for potential buyers and, therefore, anticipate an increase in your sales for the help www.auction-entrepreneur-kit.com. There is auction software for purchase and there is free auction software available on the web. Depending on which program you use, the auction software packages offer different features. Here are a few of the basic features of most eBay auction software packages.

Many of the auction software packages have a Paypal checkout option. This is a special link that you can put on all of your eBay sales to give the customer the option of making a Paypal payment right from your site. All the customer has to do is click the link and eBay will direct them to their Paypal log in page. From there, they will be able to send you the payment directly without a lot of back and forth and cut and paste. This feature is very convenient for your customers who use Paypal for their eBay purchases.

The auction starting and ending bid tool is another feature that many auction software packages offer. With this tool, you are able to pre-set the minimum starting bid. This is useful in the beginning stages of your sale. It sets the minimum price for which a possible customer or buyer may bid on for that particular product. The ending bid tool allows you to set the final date of the sale process for your merchandise or service on eBay.

One of the most useful tools of auction software is the email notification tool. This is a great tool to encourage customers to place higher bids and haggle for the merchandise that they really want. If they are notified by email, then they will know about the outbidding and they will be able to take immediate action.

The auction reserve bid tool is another feature that is found on most auction software packages. The Auction reserve bid feature of the auction software component allows you to set a minimum amount for a customer to buy a specific product or service. Once the auction reserve bid is met, the product will be sold to the highest bidder upon the completion of the auction process. If the auction reserve bid is not met, notifications are sent out to the various bidders explaining that the item is still for auction due to not meeting this threshold.

All auction software packages have a feature called the auction close out tool. The auction close out feature of most auction software components automatically completes the bidding process by recording the required information into the various compartments of your software, processing the funds, and sending out final notifications to the winning bidder.

There is eBay auction software available for sale that offers a lot of advanced features to liven up your auction. Some of the key features include photo enhancement tools that allow you to resize, crop, design, and clean up the pictures that you post on eBay, borders and clip art tools that allow you to make your eBay store or space look very nice and for the help www.mining-auction-gold.com presentable for your customers, sound capabilities that allow you to play music in the background while your customers shop, a voice recorder that allows you to record a voice message for your buyers and lookers, and various tracking tools such as spreadsheets that keep track of how much you sold, how much you sold it for, and to whom you sold the particular product.

Selling successfully on eBay does not have to be hard. With the help of quality auction software, you will have a profitable eBay site or store set up that will help you to earn a lot of money. Whenever merchants sell anything on eBay, they sometimes consider using some free auction software to help them make their eBay store be one that many people enjoy.

Remember, you never have a second chance to make a first impression. Make that first impression count with eBay auction software. So, before you starting selling on eBay, take the time to review some free software packages online or packages for purchase. You will be glad you did, and you will more than likely be successful on eBay. The majority of eBay sellers succeeding on the Web are doing so because they understand the importance of auction software.

ravi singh
http://www.articlesbase.com/online-business-articles/the-basic-features-of-most-ebay-auction-software-packages-724786.html

Selling merchandise on eBay is effective and easier with auction software. If you use eBay auction software when you are attempting to sell on eBay, you will be able to make your site look a lot better for potential buyers and, therefore, anticipate an increase in your sales. There is auction software for purchase and there is free auction software available on the web. Depending on which program you use, the auction software packages offer different features. Here are a few of the basic features of most eBay auction software packages.

Many of the auction software packages have a Paypal checkout option. This is a special link that you can put on all of your eBay sales to give the customer the option of making a Paypal payment right from your site. All the customer has to do is click the link and eBay will direct them to their Paypal log in page. From there, they will be able to send you the payment directly without a lot of back and forth and cut and paste. This feature is very convenient for your customers who use Paypal for their eBay purchases.

The auction starting and ending bid tool is another feature that many auction software packages offer. With this tool, you are able to pre-set the minimum starting bid. This is useful in the beginning stages of your sale. It sets the minimum price for which a possible customer or buyer may bid on for that particular product. The ending bid tool allows you to set the final date of the sale process for your merchandise or service on eBay.

One of the most useful tools of auction software is the email notification tool. This is a great tool to encourage customers to place higher bids and haggle for the merchandise that they really want. If they are notified by email, then they will know about the outbidding and they will be able to take immediate action.

The auction reserve bid tool is another feature that is found on most auction software packages. The Auction reserve bid feature of the auction software component allows you to set a minimum amount for a customer to buy a specific product or service. Once the auction reserve bid is met, the product will be sold to the highest bidder upon the completion of the auction process. If the auction reserve bid is not met, notifications are sent out to the various bidders explaining that the item is still for auction due to not meeting this threshold.

All auction software packages have a feature called the auction close out tool. The auction close out feature of most auction software components automatically completes the bidding process by recording the required information into the various compartments of your software, processing the funds, and sending out final notifications to the winning bidder.

There is eBay auction software available for sale that offers a lot of advanced features to liven up your auction. Some of the key features include photo enhancement tools that allow you to resize, crop, design, and clean up the pictures that you post on eBay, borders and clip art tools that allow you to make your eBay store or space look very nice and presentable for your customers, sound capabilities that allow you to play music in the background while your customers shop, a voice recorder that allows you to record a voice message for your buyers and lookers, and various tracking tools such as spreadsheets that keep track of how much you sold, how much you sold it for, and to whom you sold the particular product.

Selling successfully on eBay does not have to be hard. With the help of quality auction software, you will have a profitable eBay site or store set up that will help you to earn a lot of money. Whenever merchants sell anything on eBay, they sometimes consider using some free auction software to help them make their eBay store be one that many people enjoy.

Remember, you never have a second chance to make a first impression. Make that first impression count with eBay auction software. So, before you starting selling on eBay, take the time to review some free software packages online or packages for purchase. You will be glad you did, and you will more than likely be successful on eBay. The majority of eBay sellers succeeding on the Web are doing so because they understand the importance of auction software.

John Jackson
http://www.articlesbase.com/sales-articles/ebay-selling-begins-with-auction-software-136951.html