Hudson & Marshall of Texas Inc. News
Hudson & Marshall Holds Free Foreclosure Auction Buying Seminars in Los Angeles Area on May 28th and 29th
Seminars Will Cover Basics of Auction Process to Prepare Buyers for June Foreclosure Auction of nearly 800 Southern California Homes
LOS ANGELES, May 19 /PRNewswire-USNewswire/ — As foreclosures keep sprouting up across the country, more and more buyers want to purchase these discounted homes but don't know how. To help buyers take advantage of this great opportunity, Hudson & Marshall will host free foreclosure auction buying seminars on May 28th and 29th in the Los Angeles area. Designed to educate individuals on the basics of buying homes through auction, the seminars will cover everything from bidding to financing.
"The subprime crisis has flooded the nation's housing market with an unprecedented number of foreclosures. As a result, buyers are interested in foreclosures because they see most of the homes look just like any other house but often cost less," said Dave Webb, principal, Hudson & Marshall. "Hudson & Marshall developed these seminars to help buyers learn how to purchase bank-owned foreclosures through auction," added Webb.
The 45-minute seminars will be held on May 28th at 7:00pm at the Anaheim Marriott and May 29th at 7:00pm at the Riverside Convention Center. Targeted at people looking for homes to live in, the seminars will review everything a buyer needs to know about purchasing property through auction.
Auctioneers will conduct mock auctions to help buyers practice bidding and become comfortable with the process. Several lenders will be available to pre-approve applicants for loans. On the same days, there will be broker seminars held at 6:00pm to provide real estate agents with information on representing a buyer at home auctions.
According to Realtytrac(R), in April, California posted the second highest state foreclosure rate with one in every 204 households receiving a foreclosure filing. Total foreclosure filings in the state for the month were 64,683, an increase of 112% from April 2007.
After attending the seminars, buyers will be well-prepared to place bids at Hudson & Marshall's auction of nearly 800 foreclosed homes throughout cities in Southern California on June 7-14. Valued from $53,000 to over $500,000, all the homes are owned by banks and come with title insurance paid for by the sellers. Winning bidders must make a 5% deposit of the sales price for each property, of which $5,000 must be a cashier's check or cash. The remainder may be paid with a personal check.
Buyers may preview the homes being auctioned at the open house scheduled for May 31st and June 1st from 12:00pm - 4:00 pm or by contact listing agents to make an appointment. Complete auction details may be found at www.hudsonandmarshall.com or by calling 866-539-4172.
Hudson & Marshall will auction the homes on the following dates:
June 7, 2008 - Anaheim (174 homes); June 8 - Anaheim (134 homes); June 9 - Visalia (9 homes); June 9 - Bakersfield (57 homes); June 9 - Simi Valley (27); June 10 - Lancaster (97 homes); June 11 - Victorville (60 homes); June 11 - Palm Springs (45 homes); June 12 - San Diego (83 homes); and June 14 - San Bernardino (168 homes).
Prior to the auction, buyers can purchase property online by visiting www.hudsonandmarshall.com and clicking on the Bid-Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept or reject any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.
Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. In 1998, before the foreclosure crisis started, Hudson & Marshall began selling foreclosed homes. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.
About Hudson & Marshall of Texas Inc.
H&M is America's Premier Auction Authority. Our 40-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M's streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 70,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.
CONTACT: Crystal Wright, +1-202-829-0848, for Hudson & Marshall
SOURCE Hudson & Marshall of Texas Inc.
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