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From December 2 to 7, hundreds of homebuyers are expected to turn up in Hudson and Marshall’s foreclosure auctions in several cities in Florida.
Florida is one of the states with a high foreclosure rate that resulted to a crisis in its housing market.
According to RealtyTrac, a firm that monitors the housing market, the number of homeowners in Florida who were in some form of foreclosure process in October 2008 reached nearly 54,324, up by 80 percent from last year.
The October rate ranked Florida the third among states with highest foreclosures, with one filing per 157 homes.
Hudson and Marshall has decided to increase its 2 percent buyer agent commission to 3 percent to entice qualified buyers to its bank-owned property auctions in Florida.
The real estate auction company will retain the listing agents of banks to effectively market foreclosed properties to homebuyers.
Listing agents’ familiarity and knowledge of foreclosures can help prospective homebuyers understand a home’s market value to help them make a successful bid.
Prospective homebuyers need not pre-register for the auction. However, they would be required to provide a $5,000 deposit for each successful bid they made.
Because houses are sold on as-is basis, it is advisable for homebuyers to inspect the properties first prior to auction. An open house will be held on November 22 and December 2 to allow homebuyers to view properties for auction.
The number of foreclosure homes in several cities in Florida where Hudson and Marshall auctions will be held are:
- 68 homes in Fort Myers
- 9 homes in Fort Pierce
- 10 homes in Pensacola
- 67 homes in Tampa
- 16 homes in Port Charlotte
- 34 homes in Jacksonville
- 20 homes in Titusville
- 3 homes in Tallahassee
- 114 homes in Orlando
- 6 homes in Gainesville; and
- 325 homes in Miami / homes in Fort Lauderdale
HUD Fair Housing Equal Opportunity