Foreclosure Auction Comes to Charlotte
An auction of foreclosed homes in Charlotte gives people a chance to buy a house at a fraction of the list price. And, in this economy, a lot of people are looking for that kind of bargain.
Around seventy homes in Charlotte and surrounding areas were auctioned off Saturday at the Charlotte Convention Center. Real Estate Disposition, LLC conducted the auction. Many of the winning bids were less than half of the previous value of the home. One bidder won a home valued at around $120,000 for only $37,500. However, the drop of the auctioneer’s gavel doesn’t make this a done deal. Once your bid is in, the auction company submits your bid to the bank. The bank can either accept or reject that offer. Company officials say close to 80% of bids are accepted. Real Estate Disposition, LLLC plans to hold other auctions in Charlotte later this year. |
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