Another Multi-auction Event; Buyers Beware

The Boston Herald reported January 25, 2009 that a Dallas-based auctioneer, Hudson & Marshall, will auction off more than 100 bank-owned Massachusetts properties at the Boston Quincy Marriott Saturday January 31, 2009.

Another 28 Western Massachusetts properties will be sold January 27, 2009 at the Sheraton in Springfield, MA.

Successful bidders must make a $5,000 deposit in cash, cashier’s check or certified funds for each property. The article did not mention it, but I suspect the deposit is not refundable. All properties are sold "as is."

"Evelyn Friedman, director of [Boston's] Department of Neighborhood Development, warned that some properties sold at such massive auctions have title problems."

I really don't recommend these auctions for first-time home buyers, and all buyers should be very careful about what they sign.

Read my previous post about some other multi-property auctions in Massachusetts over the last 18 months. Some successful bidders may still be waiting to move in. 

Read The Boston Herald Article

Comments

[Karla Santana]

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