has anybody ever attended a land auctoin? Know how they work, why the property is on auction ect.?

Question

Is it just land or is there houses or buildings on it ever, or always?

Answer 1

Normally there are no structures on land that is advertised as land auctions. Someone might have put up a shack, but it is probably not legal or permitted.

The reason they have land auctions because banks, other financial institutions as well as private individuals have land that they are attempting to get rid of.

It has been proved in the past that auctions are one of the best ways to sell land as the participants get all excited at the auctions and occasionally will drive the price up.

Before you purchase any land you should check the zoning, see if it has road access and utilities.

Land of this nature are normally held for future value and not to make an immediate profit as flippers do with houses.

Now of course that does not apply if you purchase a parcel in the city limits, you can get build able lots that are located in cities with utilities and are ready to be built on once you have permits and plans approved by the planning department of the city in which you purchase the property.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

You have to be very careful buying land at the auction,as in many cases you are not given a free title and will by liable for the accumulated taxes, and leans. Make sure to ask auctioneer if you are getting a clear title. Do your due diligence.
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