Government Seized Auction Tips

Believe it or not, you can buy a house, you can get it dirt-cheap, and you can get it from the government. Does this sound too good to be true?

Government seized auctions have been around for some time. When the government confiscates or sequesters a home, it sells this off at a profit, converting into cash the asset it has acquired legally at no cost. And because the government spent nothing on these homes, it sells it at a tag price that is much lower than its premium value.

How can you buy your dream home from a government seized auction? Here are some tips.

1. Check out listings.
Sites like auctionsPASS regularly catalog the government’s latest offerings, from homes to jewelry, from sports memorabilia to a Ferrari. Naturally, you would have to be a member of these sites to gain access to their massive database; but hey, there is no such thing as a free lunch. Valuable information costs.

2. Talk to experts.
You are a newbie to government seized auction. There might be tools or tricks of the trade you don’t know but could certainly use. If you want someone to guide you every step of the way, you could hire an agent or a broker. The downside is that you will have to pay commissions. The upside is that you pass the headache on to someone.

3. Check the property.
First off, consider the property’s location. If it’s not very accessible, point this factor out and haggle. Often, prices are set without regard for the specific location. Use this to your advantage.

4. Stick to your guns, price-wise.
Some government seized auctions give the property to the highest bidder. Do not ever bid more than you could afford just to win the bidding.

5. Expect legal headache.
Yes, expect tons of it, in fact. You’re dealing with the government so whether you pay in cash, check, up-front, or in installments, they will ask questions and require papers.

Government seized auctions are only one way for you to get your dream house. Try it!

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