Properties Auctioned November 5th at JW Marriott with Majority of Homes Located in the Las Vegas Area
LAS VEGAS, Oct. 18, 2011 /PRNewswire-USNewswire/ -- Hudson & Marshall (in conjunction with BLB Resources) has once again been selected by the Department of Housing and Urban Development (HUD) to partner with the agency to auction over 100 HUD owned Nevada and Arizona homes November 5th at the JW Marriott in Las Vegas. With interest rates at historic lows and a surplus of inventory, there has never been a better time for owner occupants or investors to purchase a home.
"We are excited to be able to once again work with HUD to assist the agency in its efforts to provide quality affordable homes to all," said Dave Webb, principal, Hudson & Marshall.
There will be two separate buying opportunities November 5th. The first auction scheduled at 11:00 a.m. (registration begins at 9 a.m.) is for owner occupants only and will feature approximately 70 properties in the Las Vegas area. Buyers must certify that they have not purchased a HUD-owned property within the past two years as an owner occupant, and acknowledge they will occupy the property as a primary residence for at least 12 months. Qualified buyers may receive special Federal Housing Administration (FHA) $100 down homebuyer financing and up to 3% in closing costs paid by HUD.
The second auction begins at 3:00 p.m. also November 5th, is open to all bidders and will feature approximately 40 properties in Arizona and Nevada. There will be no limitation on the number of properties a buyer can purchase and the buyer is not required to occupy the property once purchased.
"Purchasing homes through the auction process often allows buyers to grab properties at discounted prices compared to homes purchased through the traditional method," added Webb.
To register for either auction, buyers are required to bring a $500 cashiers check payable to "HUD or buyer's name." This check will be collected as a deposit from the winning bidder on each property. Prospective buyers must also bring a photo ID and a loan pre-qualification letter or proof of funds from their bank.
All properties auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Homes can be viewed during the open houses scheduled October 22nd, October 23rd, October 29th and October 30th from 11:00 a.m.-3:00 p.m. or by contacting listing agents to schedule appointments. HUD will pay a 3% ($1250 minimum) selling agent commission to qualified brokers who are registered with HUD.
A homebuyer seminar will be held Sunday, October 30 from 4:00 p.m. to 5:30 p.m. at the JW Marriott Las Vegas. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172. These will be reserve auctions where sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.
Having sold over 80,000 homes for sellers in the past ten years, Hudson & Marshall is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $3.5 billion and the company anticipates selling another 15,000 homes in 2011.
About Hudson & Marshall
H&M is America's Premier Auction Authority. Our 45-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M's streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Since 1999, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.
SOURCE Hudson & Marshall