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Federal Government Foreclosures
The U.S. Federal Government auctions real estate seized,
confiscated, foreclosed, or no longer needed by the Federal Government. Foreclosed
properties may be in any of the 50 States or U.S. territories. Some federal government
foreclosures are residences, building lots, warehouses, office buildings, vacant land,
farms, and acreage. Government foreclosed properties are generally sold by auction.
Click Here For More Information On US Federal
Government Foreclosure Auctions
Federal Government Foreclosures
Private individuals and companies may acquire foreclosed real estate
from the US Federal Government. Government foreclosed properties are sold to private
individuals and companies by auction.
What Kind of Foreclosed Property Is Available?
Federal Government foreclosures differ widely in type and value and may include improved
and unimproved land, office buildings, warehouses, commercial and industrial facilities,
airfields, former Post Offices, farms, and single- and multi-family residences. The
foreclosed property may be in any of the 50 States, the District of Columbia, Puerto Rico,
the U.S. Virgin Islands, and the U.S. Pacific Territories.
How To Acquire Federal Government Foreclosed Real Estate
The federal government advertises public auctions in local and national newspapers, in
trade publications, and on radio. If you decide to bid on a foreclosed property, inspect
it carefully before bidding. All foreclosed property is sold as is. The Federal government
uses three bid methods in their auctions:
- Sealed bid auctions. Prospective buyers are provided an Invitation for Bid, which
contains a description of the property. Bids must be accompanied by the
required deposit and received by the specified closing date. The foreclosed property is
awarded to the highest bidder.
- Public auction. The federal government uses professional auctioneers in a conventional
auction. The foreclosed property is awarded to the highest bidder, who must provide a
deposit in an amount advertised before the auction.
- Auction by mail. For a mail auction, the government accepts offers after an announced
date until there is an acceptable bid.
Click Here For More Information On US Federal
Government Foreclosure Auctions
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