An REO Property Sells In a Difficult Market

In July 2008, a major bank came to Bid4Homes to sell a property near the beach in Supply, NC. The property had been on the market for months and the MLS with a local broker for six weeks.

Bid4Homes and the broker worked together to sell the home through auction. The auction went into overtime and sold to an out-of-state bidder for $25,000 over the asking price.

“There are several years of inventory in the vicinity of this home. I thought it would take a long time to sell this property. Bid4Homes was easy to work with and they delivered the buyer within a few weeks.”. Terri Allen, Real Estate Broker

A first time buyer finds the deal of a lifetime in Dallas

At Bid4Homes dreams can come true. Great values for first time buyers are plentiful. A government agency auctioned a 4,384 square foot single family Dallas home in the summer of 2006. This home has 3 bedrooms 3.5 baths, two dens, a family room, a library, a guest house and a pool. A buyer who had never owned a home paid $105,000 for the property. Right time. Right place. Right price.

Where an investor found a "cash machine"

Buffalo is a city where there are many wonderful investment property opportunities. This rental property in the University District has 5 bedrooms, all natural wood trim and floors, a re-modeled kitchen, was freshly painted and came with '5-star' tenants. An out-of town buyer paid cash for the property through an online auction. The property now yields a double - digit return on investment.

A Big Deal on a Big House

A 22,000 sq. ft. home in Arlington, Texas, forfeited to the US Marshals, was auctioned on Bid4Homes in May 2008. The property, while nearly finished, still needed some work to complete construction. A reserve price of $807,500 was set. Bid4Assets' marketed the property targeting super-wealthy Texas investors, Bid4Assets subscribers who have bid on Texas properties and builders in the Dallas- Ft. Worth area. 7 bidders (one from California) placed 28 bids during the auction After 23 minutes of overtime, the property sold for $1,189,000. The buyer won a property assessed at over $5 million.

Investment properties that are cheaper by the dozens

Investors are constantly looking for great deals on Bid4Homes. Sometimes those deals come in unique packages. A private buyer of REO properties amassed a portfolio of 34 single family properties in Ohio and Michigan. Each property needed some work before renting. All 34 properties went to auction online as a group and sold for $331,350. That's under $10,000 each. Now that's value.

A luxury residence for people who want to live in quiet near a great city

A waterfront property on Fox Island in Washington State is situated on almost an acre of land. The house has soaring ceilings and many floor-to-ceiling windows providing spectacular views of Puget Sound. Seattle is accessible by water taxi. 33 people bid on the property. The auction went into 9 minutes of overtime and sold for $1,303,000.

Waterfront land in golfing paradise

Berkeley Hall is one of the most prestigious golf communities in the Hilton Head, South Carolina area. The seller wanted to move this property in less than a month. Four bidders went after this property with the winner paying $1.1 million. The seller sold the property in less than a month and a golf enthusiast now lives in one of the great golfing communities in America.

A "dream" commercial property in sunny Florida

The Sandshaker Lounge in Pensacola, Florida is a popular bar with sandwich shop and package store. The property, along with liquor and tobacco licenses and all unopened liquor, was put up for sale through an online auction. After 20 minutes of "overtime bidding" the property sold for $605,000, 22% over the asking price. The buyers had always dreamed of owning and running a small business. Today the Sandshaker Lounge is a profitable popular destination for local residents and tourists.