Home Buying in Tucson>Question Details

Mark, Home Buyer in Tucson, AZ

What is the best way to locate foreclosure auctions ?

Asked by Mark, Tucson, AZ Tue Jun 3, 2008

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5
The Arizona Newspaper Association's website contains a searchable database of all public notices (including notice of trustee sale auctions) published in the state's general circulation newspapers. You can search by county, by date and with keywords (use trustee sale).
You can then read through the listings to see what auctions are planned in the area in which you are interested.
Hope this helps.
0 votes Thank Flag Link Sun Jun 8, 2008
The best way to find foreclosure auctions is to either subscribe to the newspaper of record in the jurisdiction you are looking to purchase in OR do a search on the web for Trustees that are active in the foreclosure of homes. Find their website. Most will have a calendar of upcoming auctions. Also, careful of advice you receive that you can hardly find a good deal at auction. If you research properties carefully, you will find many "good deals".
0 votes Thank Flag Link Sat Jun 7, 2008
Hi Mark,
There are many types of "foreclosure" auctions.
1- NOTICE OF TRUSTEE SALE AUCTION : the bank has started the foreclosure process & on the 90th day after the public notice has been filed, the property goes to auction
2- REO (bank owned property) AUCTION: properties that banks own & are handled by any number of auction houses
3- REGULAR REAL ESTATE AUCTION: properties that private sellers participate in, hoping to either sell before the NOTICE OF TRUSTEE SALE auction or just trying to see what buyers will pay for their home

This list is not all-inclusive, but gives examples of the varying types of foreclosure auctions. Notices for each type of auction are posted in many different media avenues. There are so many pitfalls, negative actions & discouraging terms & conditions related to any of these auctions (such as large deposits required---up to $10K & sometimes nonrefundable, private reserve prices, non-contingency clauses, etc), that you will very rarely get a great deal on a property at one of these auctions. However, I suggest you get connected with a knowledgable REALTOR who will give you access to this information.

I hope this information will help you to make good real estate decisions.

---
Paul Welden
REALTOR
HomeSmart Real Estate
0 votes Thank Flag Link Thu Jun 5, 2008
There are a number of sites that offer preforeclosure (short sales), foreclosures, and auctions online. You might try http://www.foreclosuredeals.com/lview.php?st=AZ&cn=Pima, and http://tucson.az.foreclosure.com/ as a starting point.

It's important to review the parameters for bidding on home on the auction block. Most auctions give a set time prior for due diligence. Cash and financing requirements are also spelled out.

If I can help in any other way, please don't hesitate to ask. I specialize in representing buyers and sellers navigating short sales and foreclosure homes.
0 votes Thank Flag Link Tue Jun 3, 2008
Check your local news publications. Trustee sales are required to be published.
0 votes Thank Flag Link Tue Jun 3, 2008
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