Iron Horse Auction Company is conducting an online auction through next weekend selling 100 bank-owned properties in North Carolina and Virginia to investors and prospective homebuyers.
The homes are located in nine counties of Eastern North Carolina, six counties of coastal North Carolina, and also in Central Virginia.
There is a vast selection of REO properties up for auction in North Carolina, including Sound View Residential Lots in Perquimans County, Intracoastal Waterway Frontage in Onslow County, Golf Course Frontage lots in the Pinehurst area, a commercial lot in New Bern, residential lots in Holden Beach and a partial subdivision in Durham.
The current tax appraisal of all the auction assets is at least $5.3 million, Iron Horse Auction Company said. In order for the properties to be sold, escrow has to be closed by June 29.
The auction is currently taking place and ends on June 1. All bidding will take place on the Rockingham, N.C.-based auction company’s website.
Iron Horse Auction Company said all of the properties are going to be sold regardless of price, except for four that have very low reserves.
“Never have we had the opportunity to sell such a diverse group of properties in this area,” said Thomas McInnis of Iron Horse Auction Company. “This is an opportunity to buy highly desirable real estate with no minimum on nearly all of the properties.”
