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Property Sale Types

We offer two types of Property Sales only;

Bid & Assume Foreclosures
Straight Sale Properties

You will be able to identify which type a property is being offered in the “Terms” section of the listing.

1. Bid & Assume

  • A few properties are being offered as Bid and Assume Sales. It will state in the description.

    Example:

    This auction is a Bid & Assume
  • Your bid on these properties is your down payment, you then will assume the loan balance and monthly payment stated in the terms.

    Example:
    What you bid is the downpayment, and you then assume a balance of $26,472 at 9.5% interest, with a minimum monthly payment of $259, plus a one time processing fee of $199.

    The winning amount or down payment does not get subtracted from the loan balance amount.
2. Straight Sale
  • A few properties are being offered as Straight Sales. It will state in the description.

    Example:
    This auction is a Straight Sale
  • In a Straight Sale auction what you bid is the price for this property plus the processing fee

 

If you have any questions e-mail or call us at (661) 823-1543 today!

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