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James Nellis is Your Auction property Resource for ME

Auction property


ME

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FEATURED Auction property

IN ME

As foreclosure rates come to record levels, more sellers are converting to auction sales as a way to keep away from foreclosure. So, how does it work? An auction home means the seller organizes with their auction realtor and accepts a price that's less than the amount that they owe on the property. As part of this agreement, the lender typically agrees to eliminate the rest of the loan. As a result, the seller doesn't have to go through a foreclosure, the buyer picks up an auction sale property in MAINE at a discounted amount, and the lender avoids taking on the stress of unloading the property. Sounds good right? Well, sellers selling auction housing in MAINE need to know that an auction sale may hurt their credit, though probably not as significantly as a foreclosure. Also, lenders generally will only approve an auction sale if the seller is numerous payments behind and has received a default notice. Buyers may get a great auction property for sale in MAINE at a discount, but they also will need to go through some extra paperwork as well. Not to mention, they also need to be ready to roll up their sleeves if that new auction real estate requires quite a bit of fixing up. Auction properties in MAINE are for sale at a price lower than the amount owed on the mortgage. Property owners hope to sell their home as an auction town home to avoid penalties involved with going into foreclosure. What can make it complicated to buy an auction property is that there are often two mortgages on the home and both the lenders must approve the sale. The possession of the mortgages on an auction home usually belong to more than one individual, so you'll likely have to persuade multiple banks and lenders to take a loss on their initial loan. This is why it often takes so long to get the authorization on an auction sale offer. If the auction sale fails and the homeowner can't manage to pay his mortgage, then the bank forecloses on the home. Auction condos and properties are still owned by the home-owner, while foreclosures are owned by banks. If an auction home for sale cannot be sold in time, the bank starts foreclosure to try to sell the home directly, often in an auction. If the auction fails to turn up a buyer prepared to pay at least what the bank was owed on the home, the home becomes Real Estate Owned (REO), where the owner is the bank. The bank then commonly sells the property through a real estate agent. If you still plan to make an offer on an auction sale, be ready for a long haul. In the meantime, we suggest that you keep touring and considering other properties in case the auction sale doesn't go through. Keep in mind that even if your offer is acknowledged, the banks will usually ask you to buy the home as-is and won't cover for any repairs discovered by an inspect
$1,200,000
4 Baths
5 Beds
3400 Area
3car Garages
$525,000
2 Baths
3 Beds
1600 Area
1car Garages
$450,000
4 Baths
4 Beds
2200 Area
2car Garages
$750,000
4 Baths
4 Beds
3000 Area
3car Garages
$575,000
3 Baths
3 Beds
1900 Area
2car Garages
$695,000
3 Baths
4 Beds
2000 Area
2car Garages

Cities we serve:


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ME img Bustins Island, ME img Buxton, ME img Calais, ME img Cambridge, ME img Camden, ME img Canaan, ME img Canton, ME img Cape Elizabeth, ME img Cape Neddick, ME img Cape Porpoise, ME img Caratunk, ME img Caribou, ME img Carmel, ME img Casco, ME img Castine, ME img Center Lovell, ME img Chamberlain, ME img Charleston, ME img Chebeague Island, ME img Cherryfield, ME img China Village, ME img Clayton Lake, ME img Cliff Island, ME img Clinton, ME img Columbia Falls, ME img Coopers Mills, ME img Corea, ME img Corinna, ME img Corinth, ME img Cornish, ME img Cranberry Isles, ME img Crouseville, ME img Cumberland Center, ME img Cumberland Foreside, ME img Cushing, ME img Cutler, ME img Damariscotta, ME img Danforth, ME img Danville, ME img Deer Isle, ME img Denmark, ME img Dennysville, ME img Detroit, ME img Dexter, ME img Dixfield, ME img Dixmont, ME img Dover Foxcroft, ME img Dresden, ME img Dryden, ME img Durham, ME img Eagle Lake, ME img East Andover, ME img East Baldwin, ME img East Blue Hill, ME img East Boothbay, ME img East Dixfield, ME img East Livermore, ME img East Machias, ME img East Millinocket, ME img East Newport, ME img East Orland, ME img East Parsonsfield, ME img East Poland, ME img East Vassalboro, ME img East Waterboro, ME img East Wilton, ME img East Winthrop, ME img Easton, ME img Eastport, ME img Eddington, ME img Edgecomb, ME img Eliot, ME img Ellsworth, ME img Estcourt Station, ME img Etna, ME img Eustis, ME img Exeter, ME img Fairfield, ME img Falmouth, ME img Farmingdale, ME img Farmington, ME img Farmington Falls, ME img Fort Fairfield, ME img Fort Kent, ME img Fort Kent Mills, ME img Frankfort, ME img Franklin, ME img Freedom, ME img Freeport, ME img Frenchboro, ME img Frenchville, ME img Friendship, ME img Fryeburg, ME img Gardiner, ME img Garland, ME img Georgetown, ME img Glen Cove, ME img Gorham, ME img Gouldsboro, ME img Grand Isle, ME img Grand Lake Stream, ME img Gray, ME img Greenbush, ME img Greene, ME img Greenville, ME img Greenville Junction, ME img Greenwood, ME img Guilford, ME img Hallowell, ME img Hampden, ME img Hancock, ME img Hanover, ME img Harborside, ME img Harmony, ME img Harpswell, ME img Harrington, ME img Harrison, ME img Hartland, ME img Hebron, ME img Hinckley, ME img Hiram, ME img Holden, ME img Hollis Center, ME img Hope, ME img Houlton, ME img Howland, ME img Hudson, ME img Hulls Cove, ME img Island Falls, ME img Isle Au Haut, ME img Isle Of Springs, ME img Islesboro, ME img Islesford, ME img Jackman, ME img Jay, ME img Jefferson, ME img Jonesboro, ME img Jonesport, ME img Kenduskeag, ME img Kennebunk, ME img Kennebunkport, ME img Kents Hill, ME img Kingfield, ME img Kingman, ME img Kittery, ME img Kittery Point, ME img Lagrange, ME img Lambert Lake, ME img Lebanon, ME img Lee, ME img Leeds, ME img Levant, ME img Lewiston, ME img Liberty, ME img Limerick, ME img Limestone, ME img Limington, ME img Lincoln, ME img Lincolnville, ME img Lincolnville Center, ME img Lisbon, ME img Lisbon Falls, ME img Litchfield, ME img Little Deer Isle, ME img Livermore, ME img Livermore Falls, ME img Long Island, ME img Lovell, ME img Lubec, ME img Machias, ME img Machiasport, ME img Madawaska, ME img Madison, ME img Manchester, ME img Mapleton, ME img Mars Hill, ME img Matinicus, ME img Mattawamkeag, ME img Mechanic Falls, ME img Meddybemps, ME img Medway, ME img Mexico, ME img Milbridge, ME img Milford, ME img Millinocket, ME img Milo, ME img Minot, ME img Monhegan, ME img Monmouth, ME img Monroe, ME img Monson, ME img Monticello, ME img Moody, ME img Morrill, ME img Mount Desert, ME img Mount Vernon, ME img Naples, ME img New Gloucester, ME img New Harbor, ME img New Limerick, ME img New Portland, ME img New Sharon, ME img New Sweden, ME img New Vineyard, ME img Newcastle, ME img Newfield, ME img Newport, ME img Newry, ME img Nobleboro, ME img Norridgewock, ME img North Anson, ME img North Berwick, ME img North Bridgton, ME img North Haven, ME img North Jay, ME img North Monmouth, ME img North Turner, ME img North Vassalboro, ME img North Waterboro, ME img North Waterford, ME img North Yarmouth, ME img Northeast Harbor, ME img Norway, ME img Oakfield, ME img Oakland, ME img Ocean Park, ME img Ogunquit, ME img Old Orchard Beach, ME img Old Town, ME img Oquossoc, ME img Orient, ME img Orland, ME img Orono, ME img Orrington, ME img Orrs Island, ME img Owls Head, ME img Oxbow, ME img Oxford, ME img Palermo, ME img Palmyra, ME img Paris, ME img Parsonsfield, ME img Passadumkeag, ME img Patten, ME img Peaks Island, ME img Pemaquid, ME img Pembroke, ME img Penobscot, ME img Perham, ME img Perry, ME img Peru, ME img Phillips, ME img Phippsburg, ME img Pittsfield, ME img Plymouth, ME img Poland, ME img Port Clyde, ME img Portage, ME img Porter, ME img Portland, ME img Pownal, ME img Presque Isle, ME img Princeton, ME img Prospect Harbor, ME img Randolph, ME img Rangeley, ME img Raymond, ME img Readfield, ME img Richmond, ME img Robbinston, ME img Rockland, ME img Rockport, ME img Rockwood, ME img Round Pond, ME img Roxbury, ME img Rumford, ME img Sabattus, ME img Saco, ME img Saint Agatha, ME img Saint Albans, ME img Saint David, ME img Saint Francis, ME img Salsbury Cove, ME img Sandy Point, ME img Sanford, ME img Sangerville, ME img Sargentville, ME img Scarborough, ME img Seal Cove, ME img Seal Harbor, ME img Searsmont, ME img Searsport, ME img Sebago, ME img Sebasco Estates, ME img Sebec, ME img Sedgwick, ME img Shapleigh, ME img Shawmut, ME img Sheridan, ME img Sherman, ME img Shirley Mills, ME img Sinclair, ME img Skowhegan, ME img Smithfield, ME img Smyrna Mills, ME img Solon, ME img Sorrento, ME img South Berwick, ME img South Bristol, ME img South Casco, ME img South China, ME img South Freeport, ME img South Gardiner, ME img South Paris, ME img South Portland, ME img South Thomaston, ME img South Windham, ME img Southport, ME img Southwest Harbor, ME img Springfield, ME img Springvale, ME img Spruce Head, ME img Squirrel Island, ME 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West Paris, ME img West Poland, ME img West Rockport, ME img Westbrook, ME img Westfield, ME img Whitefield, ME img Whiting, ME img Wilton, ME img Windham, ME img Windsor, ME img Winn, ME img Winter Harbor, ME img Winterport, ME img Winthrop, ME img Wiscasset, ME img Woolwich, ME img Wytopitlock, ME img Yarmouth, ME img York, ME img York Beach, ME img York Harbor, ME

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Zip Codes for ME

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