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Omaha Homes For Auction

Omaha homes for auction

Real estate auctions are commonly used to sell foreclosed properties. Omaha homes for auction occur at the sheriff's office downtown and are held in the lobby. By law properties that are sold due to a lien are sold at a public auction. Tax sales, where the owner failed to pay property taxes, or mortgage lien sales, where the owner failed to pay the mortgage, are two of the most common auctions. All sheriff's auctions are available to the public.
Procedures vary depending on the county. In some counties the property is transferred by the sheriff and others it is transferred judicially by the court. It is important that buyers fully understand the auction process in the county that the auction is to be held in. For instance, in Douglas county it may take several weeks to get possession of the property while in Pottawattamie county possession is often granted by the end of the day.

Most auctioned homes are not able to be inspected prior to the sale. Potential buyers can only see the exterior of the property. Until the auction process is complete, the owner still owns the property and has all rights of ownership. Omaha homes for auction typically are few. Our mortgage default rates are low due to our strong economy. Interested buyers should be cautioned to arrive early, because the auctions are started on time and the process is quick. For more information on buying foreclosed or any other real estate visit our buyers section at the buyers link above.


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