Tuesday, October 28, 2008

Local Property Auctions Scheduled for October 29, 2008

October 29 at 1:20pm at the Charlottesville Circuit Courthouse
Property: 1053 Grady Avenue
Debtor: Michelle B. Allen
Amount owing: $140,000
Bidder brings: $11,000 or 10 percent sale price
Info: Draper & Goldberg PLLC 703-777-2448


October 29 at 1pm at the Albemarle Courthouse
Property: 2841 King Solomons Lane, Esmont
Debtor: Becky Sue McCauley
Amount owing: $55,000
Bidder brings: $6,000 or 10 percent sale price
Info: Draper & Goldberg PLLC 703-777-2448

Info courtesy of The Hook.

Here's a quick primer on how to buy a home at auction. Research & due dilligence required.

In a related note, nationwide foreclusures rose 71% in the Third Quarter of this year, compared to last year at this time. This is the highest number on record as home prices fell and stricter mortgage standards made it harder for homeowners to sell or refinance. Read more here. (Thanks to JH for sending this info.)

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