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.

• 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 call us at (661) 823-1543 today!