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Auctioning of Hialeah Foreclosure Homes

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By : John Cutts    99 or more times read
Hialeah foreclosure homes auctions are attractive to investors who want to buy foreclosed houses in good condition and at very low prices.

According to industry experts, auctions allow investors to purchase the best foreclosure properties at cheap prices. Investors can check out foreclosure listings if they are interested in finding available foreclosure homes at Hialeah and the surrounding areas.

Most foreclosure listings feature multi-family and single houses, duplexes and buildings of various kinds. Typically, foreclosure of a Hialeah distressed property takes only almost two months. At the end of three months, the foreclosure property will be placed on the auction block.

The auction is usually conducted by the court clerk who will also be responsible for turning over the property to the winning bidder. Notices of sale will be released which contain all the necessary information such as the place and time of auction and case details.

HUD-foreclosed houses are popular in Hialeah and its surrounding areas, especially after the hurricanes in Florida. Majority of HUD-foreclosure houses are sold at very low prices. Usually, the preference to buy the foreclosed property is given to owner-occupants.

Previous owners who want to buy back their property should arrange their finances before the auction. A pre-approved loan will give them leverage during the auction. Usually, the HUD provides incentives to encourage repairs of the Hialeah foreclosure homes.

Meanwhile, seized property auctions are common in Hialeah. After various notices and homeowners still failed to find ways to remain on their properties, the distressed houses will finally by seized due to non-payment of mortgage.

Once the lender acquires the distressed home, it becomes a repossessed property. The lender has the option to remodel or refurnish the repossessed property to boost its resale value. Industry experts said that repossessed properties are great bargains as they can be bought at very cheap prices.

Many lenders in Hialeah conduct foreclosure auctions and anyone who has the means can join in the bidding process. Many first-time homebuyers prefer to buy foreclosure properties at auctions because of their low prices.

Countywide, home buyers, real estate investors and agents seeking foreclosure properties, real-estate owned and auction opportunities can find great deals in Miami-Dade. The most populated county in Florida, Miami-Dade is an international playground attractive to foreign visitors.

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