Real Estate Auctions for REO Managers

Baltimore, MD. - Advantage Real Estate Auction Sales, LLC. a local real estate auction firm based in Maryland is pleased to announce its involvement with local Loss Mitigation, and REO asset managers to assist them with liquidating under-productive inventory.
Our full service marketing team understands the needs of REO managers. Their portfolios are filled with assets that are not offering a return for their investors and shareholders alike. They find that holding costs are high and expenses can be unbearable to incur.If you are an REO manager and would like to see Advantage Real Estate Auctions work for you in liquidating your unsold properties. Our staff is here to assist you. With over $7 Million in Auction Sales in 2007, we are the Advantage Auction Company of Choice in Maryland. "We are able to bring multiple buyers together and bid in a competitive environment to insure our clients a speedy, economical solution to their inventory without the towering costs and charges from national auction companies that may not have knowledge of the local market" Says Robert B. McArtor, Founder of Advantage Real Estate Auction Sales, LLC. Robert B. McArtor, Managing Member and Founder of Advantage Real Estate Auction Sales, LLC. has extensive experience working with banks and institutions in converting nonperforming assets into cash. He is a licensed Auctioneer in Maryland and Real Estate Agent with Long and Foster Real Estate, Inc. Robert McArtor currently has affiliates in all 50 States.For more information, contact Robert B. McArtor at 410-879-0622, or by visiting the Advantage Team on the web at http://www.harfordadvantage.com/

Demographics for Bel Air, Maryland Harford County

Robert B. McArtor, REALTOR/ Auctioneer, is recognized in the area as one of the leading authorities on Buying, Selling Traditionally and Auctioning Real Estate. For more information, please visit Maryland HOMES Team.

Demographics - Bel Air, Maryland 21014
Neighborhood type - Suburban - Harford County
Population - 35,701
Pop. density - 2,628.9
Percent male - 48.5%
Percent female - 51.6%
Median age - 36.3
People per household - 2.6
Median household income - $67,944
Average income per capita - $29,550

Housing - Bel Air, Md. 21014
Median home value - $293,300
Median age of homes - 20.0
Home appreciation - 18.5%
Homes - owned - 76.8%
Homes - rented - 19.9%
Homes - vacant - 3.3%
Commuting by bus - 1.0%
Commuting by carpool - 8.4%
Commuting by auto - 85.8%
Working at home - 3.4%

Family Facts - Bel Air, Md. 21014
Currently married - 60.7%
Never married - 20.5%
Divorced - 7.3%
Widowed - 6.6%
Separated - 4.9%
Married - w/ children - 32.9%
Married - no children - 29.8%
Single - w/ children - 6.5%
Single - no children - 30.8%

Advice to the Buyer of Property at Auction

Advice to the Buyer of Property at Auction

In a sale by offer and acceptance, you can write special conditions into your offer to protect
yourself. These special conditions may include repairs to the property, building inspections or
termite inspections. However, in an auction you do not have this option. As a result, purchasing
at an auction can be riskier than purchasing through sale by offer and acceptance. Preparation is essential If you have decided you wish to bid at an auction, it is recommended that you have finalized finance arrangements and have developed a good understanding of what the property is worth. As auctions are generally cash sales, you will need to arrange all finance beforehand.You will also need the amount of the deposit price as this is paid at the close of the auction. The primary duty of the real estate agent and the auctioneer is to look after the seller’s interests. It is therefore wise to ask the real estate agent as many questions as possible about the property, inspect the property carefully, and do your own checks on the property through the local council and other relevant authorities. The Real Estate and Settlement Advisory Board’s (REBA) publication Buying a home through an agent can provide further guidance on the types of checks you can do on a property before buying. Before bidding at an auction, it is wise to have formed your own view about the value of the property. You will not be able to rely on the actions of other bidders to give you an idea of the property’s value because some people may be bidding for the seller. The seller may make their own bids up to the reserve price. The seller’s real estate agent, the auctioneer or other people may also make bids on behalf of the seller up to the reserve price. This is common in all types of auctions. It is recommended that you check if the seller intends to bid by reading the Auction Particulars and Conditions of Sale of Freehold Property contract prior to the auction. If you become the successful bidder, you will need to immediately nominate a settlement agent or lawyer to transfer the land title and conduct settlement for you. It is therefore best to decide on your settlement agent before the auction. Bear in mind that a settlement agent who is unconnected to the seller or the seller’s real estate agent is preferable because they are less likely to experience a conflict of interest when representing you.