Next Auction:

REDC Auction(Real Estate Disposition Corporation)

Sunday  - May 18, 2008  -  9:30 AM

Denver Marriott City Centre

1701 California Street

Denver, CO 80202

HOME INSPECTIONS - 10AM to 5PM - May 3, May 4, and May 10, 2008

[If you need to see the properties outside of these times, I can try to set up showings]

For more information, or to register for the auction - contact me by phone:

(303) 525-1662

Although each auction house has its own rules, you will probably be required to do the following to participate in the auction:

1. •  Register to attend
   

2. •  Get pre-qualified for a loan
   

3. •  Bring earnest money (from $2,500 to $5,000) to the auction
   

Most auction houses work with a specific lender, and they usually offer an incentive to the public to use that lender to obtain a loan. However, you may also use your own lender, as long as you have a pre-qualification letter from them.

You may also be required to pay a 5% auction charge that is added to the  final bid.  This additional charge helps to defray the overhead cost of the auction.

You may use a real estate broker to assist you, and you will not pay a fee to your broker.  It is the seller (the bank) who pays that fee.

You will be able to view the homes before the auction, and you should do a comparative market analysis to know the fair market value of homes that have sold recently in the neighborhood.  (This is the information a broker can help you obtain, and it is very important to know that number so you can set an upper limit on your bid).