Home / News / Foreclosure / More Than 230 Homes to Hit Auction Block in Kansas City
Print This Post Print This Post

More Than 230 Homes to Hit Auction Block in Kansas City

""Hudson & Marshall of Texas, Inc."":http://www.hudsonandmarshall.com/default.aspx, (H&M) announced Tuesday that it is planning to auction off more than 230 Kansas City homes in a two-day receiver's auction to be held on May 14 and May 15.


""For buyers looking to take advantage of today's real estate market, purchase property at a huge savings, and hold onto it until the market rebounds, this auction is the ideal buying opportunity,"" said Dave Webb, principal at Hudson & Marshall.

The properties to be included in the auction are valued from $2,000 to $94,000 and come with an insurable title


and no back taxes or liens. In an effort to quickly sell these homes, most will be sold absolute â€" no minimum and no reserve bids â€" to the highest bidder regardless of price.

Many of the properties being auctioned have been renovated, and about 75 are currently leased and/or qualify for Section 8 housing, making them ideal income-producing properties for investors, H&M said. Through the Section 8 program, HUD provides low-income families with vouchers for up to 80 percent of monthly market rate rent, which is paid directly to the landlord.

Because all homes will be sold ""as-is,"" H&M encourages interested buyers to inspect properties before placing any bids. Winning bidders will be required to make a cash or certified check deposit of $1,000 for each property they purchase.

Prior to the auction, buyers can purchase property online through the H&M Web site. However, pre-auction offers are subject to seller's confirmation, which means sellers have the right to accept, reject, or counter any bid.

H&M has sold more than 80,000 homes for sellers in the past 10 years, and its total sales have topped $2.2 billion over the past five years alone. By the end of the year, the company expects to sell another 15,000 homes.

About Author: Brittany Dunn


Check Also

Overall Performance of Servicing Portfolios Declined in December

Latest estimates from the MBA find that 115,000 homeowners are now in forbearance plans nationwide, as mortgage servicers have provided relief to approximately 8.1 million borrowers since March 2020.