Puerto Rico bank-owned homes being sold in online auction
More than 100 Puerto Rico bank-owned properties are set to be sold in a four day auction with starting bids starting from $100 for a land plot.
The properties, many of which are financeable, include single family homes and multi-family properties. They are being sold individually and in “as is” condition by Auction.com.
The online bidding begins on Sunday 21 February and ends on Wednesday 24 February and Auction.com is also offering a 3% broker co-op on all properties included.
Most of the properties are vacant and will be available for viewing at open houses held on Saturday February 13 and February 20. Title insurance is included for every property and closings are expected within 45-60 days.
Limited data on home sales in Puerto Rico suggest that the market is currently sitting at or near its bottom, providing an enticing long-term opportunity for investors, says Auction.com.
The island’s well-publicized economic woes have also made it difficult for potential home buyers there to secure mortgages, and have led to household over-crowding – both of which suggest that Puerto Rico may become an exceptionally vibrant rental market for investors who do not require financing and employ a buy-and-hold rental strategy.
Auction.com General Manager Jason Allnutt, says, “This special event is another example of the global nature of real estate, and how our online platform can bring exciting opportunities to investors around the world.
“These properties are priced to sell, presenting a great opportunity for both investors looking for rental homes in Puerto Rico and to first-time homebuyers in the region who are able to secure financing. We’re pleased to bring such a large selection of these properties to auction in a single event and plan to develop a more expansive program in the near future.”
Auction.com will host a free educational seminar on 13 February in Orlando, Florida to help interested buyers prepare for the upcoming online auction event. Attendees will learn about the online auction process and how they can leverage this format to successfully make real estate investments. The event will be held at the Orlando World Center Marriott, at 8701 World Center Drive in Orlando, Florida. For details visit Auction.com/ConciergeOrlando.
Auction.com, a Ten-X company, is a leading online real estate marketplace, focused exclusively on the sale of bank-owned and foreclosure properties to real estate investors.
The properties, many of which are financeable, include single family homes and multi-family properties. They are being sold individually and in “as is” condition by Auction.com.
The online bidding begins on Sunday 21 February and ends on Wednesday 24 February and Auction.com is also offering a 3% broker co-op on all properties included.
Most of the properties are vacant and will be available for viewing at open houses held on Saturday February 13 and February 20. Title insurance is included for every property and closings are expected within 45-60 days.
Limited data on home sales in Puerto Rico suggest that the market is currently sitting at or near its bottom, providing an enticing long-term opportunity for investors, says Auction.com.
The island’s well-publicized economic woes have also made it difficult for potential home buyers there to secure mortgages, and have led to household over-crowding – both of which suggest that Puerto Rico may become an exceptionally vibrant rental market for investors who do not require financing and employ a buy-and-hold rental strategy.
Auction.com General Manager Jason Allnutt, says, “This special event is another example of the global nature of real estate, and how our online platform can bring exciting opportunities to investors around the world.
“These properties are priced to sell, presenting a great opportunity for both investors looking for rental homes in Puerto Rico and to first-time homebuyers in the region who are able to secure financing. We’re pleased to bring such a large selection of these properties to auction in a single event and plan to develop a more expansive program in the near future.”
Auction.com will host a free educational seminar on 13 February in Orlando, Florida to help interested buyers prepare for the upcoming online auction event. Attendees will learn about the online auction process and how they can leverage this format to successfully make real estate investments. The event will be held at the Orlando World Center Marriott, at 8701 World Center Drive in Orlando, Florida. For details visit Auction.com/ConciergeOrlando.
Auction.com, a Ten-X company, is a leading online real estate marketplace, focused exclusively on the sale of bank-owned and foreclosure properties to real estate investors.
Adrian Bishop
Puerto Rico bank-owned homes being sold in online auction
posted by Zo Heri at 6:54 AM
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