Tax Deed Auctions Competition Affect Prices

By dhinternational  /  January 13, 2015 / Comments Off on Tax Deed Auctions Competition Affect Prices

Tax Deed Auctions Competition Affect PricesJust like any other business venture, too much competition at tax deed auctions would affect the prices of the properties closer to its market value. However, there are some aspects that prevent this situation from happening. Here they are:

a. Property Image
Some real estate investors think that properties which start at low bids are any good. Most of them avoid these auctions. These types of properties may not be situated in a downtown location but more in rural areas, in which some are quite nice properties. Some are raw or vacant land that can flip for more profits. This also means that you can acquire good deals from those auctions because of low competition.

b. Money Requirements
Tax deed auctions require money in order to place your bids. You can’t just come to an auction with $10 on hand and expect to purchase a $100,000 property. Remember that most counties have rules expecting winning bidders to come up with the full cash right after the sale. This is why some investors lack the fund to participate in the bids.

When there is less competition, you would be able to bid on the properties that are cheap yet good ones. Try exploring those rural areas and bring with you a decent amount of cash to get the properties you’re interested.

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