The REDC auction is coming to town again. This is the same auction event I reported on in January’s Huge Foreclosure Auction Event post. At January’s auction approximately 350 bank-owned properties throughout Nevada (mainly in Clark and Washoe counties) were auctioned.
This time around the REDC has over 800 bank-owned houses in Nevada to auction. So many properties to sell, in fact, that they’ve schedule three dates, with the properties separated according to region. The dates and links are:
- Saturday, April 11th – Southern Las Vegas Area
- Monday, April 13th – Northern Las Vegas Area
- Tuesday, April 14th – Reno Area
The geographical separation of the properties on different dates will work much nicer. At the January even, sitting through 350 properties made for a very long day.
The “Reno Area” auction currently has 103 properties listed, but just as with the last auction new properties will be added as the auction date approaches.
Now before some of you start talking about the auction being a waste of time because of the bank reserves, let me remind you that out of the ~350 properties auctioned at the February event, only ~100 had the high bids rejected by the bank. So, 250 buyers walked away with properties at a fire sale prices; incidentally, one of my clients was included in that group of happy buyers.
So, if you’re interested in purchasing a property at the Reno event, but feel like you’d like assistance with the process, give me a call at 775.722.4011. I’ll assist you with the registration process and make sure you have the required docs (cashiers check, loan pre-approval, etc) necessary to bid. I’ll also pull comparable sales to the properties in which you are interested and assist in determine a bidding threshold. And then we’ll attend the auction together and bid on your properties.