First Inland All – American City
There were 3,204 foreclosed homes and houses for sale through property auctions in Cincinnati, as at the time of posting this article. The median price of the listed properties was $69,000. That ought to provide you with a fairly precise bird’s eyeview of the foreclosure auctions in Cincinnati. Barry Teegarden, Cass Ott, Roosevelt Barnes and Douglas Barclay are a few of the hundreds of real estate agents active in Cincinnati. Hiring the professional services of a competent agent can enable you to make the most of your investment at the property auctions.
Cincinnati is the county seat of Hamilton County, in Ohio State of the US. Cincinnati is regarded as among the first major US boomtowns to rapidly develop in the heart of the country, to match the larger coastal cities in size and affluence. Cincinnati is deemed to be the first “purely American” city, lacking the considerable European influence that other port cities manifested. Cincinnati is home to major sports teams including the Cincinnati Reds and the Cincinnati Bengals, as well as to the reputed University of Cincinnati. The residents of Cincinnati are called Cincinnatians.
The Cincinnati real estate listings auctions are drawing bidders from several other cities in its proximity. Such suburban cities include Fairfield, Blue Ash, Harrison, Loveland, Cheviot, Deer Park, Forest Park, Indian Hill, Loveland, Madeira, Montgomery, North College Hill, Milford, Mount Healthy, Norwood, Wyoming, Springdale, Sharonville, Reading, Silverton and St Bernard.
Tempting Foreclosure Auctions Invite Investments
The government foreclosures represent an irresistible business opportunity to prospective homebuyers because of various compelling factors. The first is that the houses are usually splendid homes in classy colonies. They essentially represent desirable assets. Next, the peculiar circumstances of the foreclosure auctions lead to the homes being listed at an alluring discount of up to 50 percent of their prevailing market prices. Who would want to forego the chance of buying a gorgeous property at a virtually throwaway price? Moreover, the procedures of the property auctions are few, simple, transparent and judicious. The government bodies and banks inspire trust. The bidder knows that she isn’t likely to be lured and trapped into a shady deal, as the real estate market is no stranger to. Further, the houses involve clear titles and are free from any cumbersome lien.
The icing on the foreclosure auctions cake may be the easy finance forthcoming from the umpteen mortgage companies also in the fray. You can select a scheme to suit your individual requirements. The loan amount could tentatively vary from $5,000 to $5,000,000, the loan duration could be one year to 30 years, and you could opt for a fixed or a fluctuating rate of interest. Once a deal has been finalized at the property auctions, the bidder is required to immediately make a down payment in cash to seal the transaction. This amount varies from a nominal $500 to 10-20 percent of the total bid price. With easy finance liberally available, buyers aren’t deterred even by the necessity of making the down payment from seeking to purchase houses at the real estate listings auctions.