Government Real Estate Auctions steps For Buyers
Gov. real estate auctions sell off property that has been seized, abandoned, or lost. The Department of Treasury has been selected because the state department to handle such auctions.
The funds obtained at state real estate auctions facilitate support local and state police and different areas of the city or town. the position of a successful bid at a Department of the Treasury auction establishes a lawfully binding contract between the successful bidder and also the Government.
Here are some basic rules & policies:
1.To be eligible to bid you must be 18 years older & not an worker of the state.
2.You can’t be the contractor, subcontractor or seller or their agent who has access to info regarding the property.
3.A bidder registration form should be submitted for approval. If bidding for somebody else, the form should be notarized.
4.Customer is to inspect property prior to inserting a bid.
5.Changes is also created on the day of the sale.
6.The Gov. reserves the right to withdraw from sale any of the property/Flats/apartments listed.
A lot of rules and laws govern government real estate auctions, and it’s wise if you are taking the time to analysis them before attempting to attend. every registered bidder are issued a bidding number. this is your lifeline to what’s necessary on that day. Don’t loose it.
Very importantly enjoy yourself at Gov. real estate auctions. The properties auctioned off are very valuable and will bring you a good return.