130 Homes Auctioned in Cities throughout Indiana on October 29th-November 1st, creating great opportunities for home buyers and real estate investors.

In today’s hobbled economy, homebuyers are scouring bank-owned foreclosure auctions for phenomenal deals on property. Rising foreclosures in states like Indiana are creating a surplus of inventory, making home prices more affordable.

Hudson & Marshall, America’s leading real estate owned (REO) auction firm, will auction over 130 homes in cities throughout Indiana on October 29th-November 1st. About 50 homes will be auctioned in Indianapolis on November 1st. Valued from $2,000 to over $200,000, all homes come with title insurance paid for by the sellers. According to Realtytrac(R), Indiana’s foreclosure rate ranked 10th in the nation during the month of August with one in every 522 households receiving a foreclosure filing.

“People used to think of foreclosure property as beat up homes but in today’s market flush with foreclosures of all kinds that perception has changed,” said Dave Webb, Principal, Hudson & Marshall. “Savvy buyers realize that if they’re willing to hold onto these properties until the market rebounds, they’re getting a great deal,” added Webb.

Hudson & Marshall will auction the Indiana homes on the following dates:
October 29th - Muncie (22 homes) and Fort Wayne (14 homes);
October 30th - Evansville (3 homes), Southbend (13 homes), and Merrillville (19 homes);
October 31st - Terre Haute (6 homes) and Kokomo (10 homes);
November 1st - Indianapolis (50 homes);

Buyers will be required to make a $2,500 deposit in the form of cash, cashier’s check or certified funds for each property for which they are the winning bidder. Homes are sold as-is and buyers should inspect property prior to auction. An open house is scheduled for Saturday, October 25th and Sunday, October 26th from 1:00pm-3:00pm. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Prior to the auction, buyers may purchase property online by visiting the company’s website 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, reject or counter any bid. In past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Real estate auctions are a quick and easy way to purchase a home. Buyers are exposed to a large variety homes in one convenient location. There are no minimum starting bids. The audience determines the price of a home in a competitive and friendly environment. Another benefit of purchasing property through auction is contracts usually close within 30 days or less because there are no contingencies slowing down the process.