Bid4Assets, an online auction marketplace for high-value assets, recently launched its real estate-only auction Web site, Bid4Homes. Bid4Homes lists bank-owned (REO) properties, government forfeited properties and properties from private sellers. Bid4Homes also partnered with RealtyTrac to offer access to thousands more properties for sale, although buyers may need to contact the sellers directly to make an offer. Real estate auctions listed on either Bid4Assets or Bid4Homes are also accessible to subscribers on the RealtyTrac Web site reaching more than three million subscribers interested in buying real estate.
Bid4Homes.com has also introduced a new online storefront for homes, multi-family properties and commercial buildings in which every property has a $1 minimum bid and no reserve price. The properties primarily come from corporate buyers of bank-owned portfolios, who aim to liquidate a percentage of the houses quickly to generate cash, presenting an opportunity to make money on investment property by rehabbing, renting or holding until the market improves.
Sellers who want to list their property for online auction need to register for free on either Bid4Assets or Bid4Homes and manually list the auction (a single registration works for both Web sites). The auction will automatically appear on both Bid4Assets and Bid4Homes and be accessible to RealtyTrac subscribers. There is an upfront $5 listing fee, and a success fee if the property sells.
http://www.bid4homes.com
http://www.bid4assets.com
