Partnership Automates REO Auctions

RealtyTrac, the Irvine, Calif.-based online marketplace for foreclosure properties, is partnering with Williams & Williams, an auctioneer of U.S. real estate including foreclosed properties, to host a national database of bank-owned property auctions.The move gives buyers and real estate investors hundreds of opportunities to purchase bargain real estate using the process of auction vs. traditional property sales. The properties, all being auctioned by Williams & Williams, will be located under the Auction tab of RealtyTrac and updated daily. Along with an opening bid, sale date, time and location, the details for each property include a phone number and e-mail address for Williams & Williams so that members can contact the auction company with any further questions about the property. Members can also link to the Williams & Williams website for the full terms and conditions of each auction.