Hudson & Marshall to Auction 85 Bank-Owned Properties

Hudson & Marshall will be hosting three separate auctions this week in which 85 bank-owned homes will be available for buyers to purchase.

“While the housing market is in recovery mode, now is a phenomenal time for buyers hunting for property to take the plunge and foreclosure auctions is where they can find great buys,” said Dave Webb, principal at Hudson & Marshall. “By the time banks offer these homes at auction, they are eager to sell them so buyers can usually purchase them at a discount.”

The various properties up for auction range in value from $17,000 to nearly $400,000.

On Wednesday, four homes will be available in South Bend, Ind. The auction will take place at 7 p.m. at the Hilton Garden Inn.

There will be 15 homes up for auction in Indianapolis on Thursday evening at the Hampton Inn & Suites in Fishers.

The last auction will occur on Saturday featuring 66 homes in Chicago. The auction begins at 11 a.m. at the Chicago Marriot Southwest at Burr Ridge.

All properties auctioned come with an insurable title, are sold “as-is” and buyers should inspect the properties before placing any bids. Buyers are required to make a cash or certified check deposit of $2,500 for every property that they are the winning bidder.

All three auctions are a reserve auction, which means sellers have the right to accept, reject or counter any bid made by a buyer. However, Hudson & Marshall said the majority of most offers were accepted after their auctions.

Complete property information can be found at the Hudson & Marshall website, where buyers can also make a bid on a home prior to the auction.