America's leading real estate owned REOauction firm Hudson & Marshall will auction over 250
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America's leading real estate owned (REO)auction firm, Hudson & Marshall will auction over 250 bank-owned homes inDetroitMay 2nd and 3rd at 1:00 pm at the Doubletree Hotel Dearborn."We're seeing more owner-occupant buyers choosing to purchase foreclosuresbecause they're great values in today's market," commented Dave Webb,Principal, Hudson & Marshall."When buyers compare a home listed for salewith a comparable foreclosure in the same neighborhood, they're askingthemselves why pay more for the same type of property," added Webb. There is a wide selection of homes in the Detroit auction, valued from $1000to nearly $400,000, for both investors and first-time homebuyers to choosefrom.All homes come with a clean, insurable title paid for by the sellers.Buyers will be required to make a $1,000 deposit with a certified check orcash on each property for which they are the winning bidder. All homes being auctioned by Hudson & Marshall are sold "as-is" and buyersshould inspect properties before placing any bids. Buyers may contact listingagents to make appointments to view homes. Complete property details andadditional information may be found at or by calling866-539-4172. The Detroit auction also will feature Hudson & Marshall's Alliance NetworkProgram, a community outreach initiative created to attract more buyers andtenants in search of affordable housing to its auctions. Hudson & Marshall haspartnered with local organizations that will be on site during the auction toanswer questions and provide resources to buyers.
National Faith HomeBuyers Program, a non-profit organization counselingfamilies on homeownership, will refer buyers and tenants who have completedits program to the auction. The tenant referral program is designed to helpconnect investor buyers, purchasing homes at the auction, with tenants in needof immediate housing. Several lenders also will attend the auction to answerquestions and assist buyers with their mortgage needs. Additionally, TCNConstruction Group, a contracting firm and APD Solutions, a propertymanagement company will be available during the auction to offer theirservices to investors.Prior to auction, buyers can purchase property online by visiting the websiteand clicking on the Bid-Now icon Sellers typically respond to offers within24 hours. This is a reserve auction, which means sellers have the right toaccept, reject or counter any bid; however, in past auctions conducted byHudson & Marshall, the majority of offers have been accepted. Having sold over 70,000 homes for sellers in the past eight years, Hudson &Marshall of Texas, Inc is the most experienced, trusted leader in the REOauction industry. The company's accelerated sales process enables it toswiftly and efficiently sell large volumes of property in a way that minimizesexpenses for sellers and maximizes return.
Over the past five years alone,Hudson & Marshall's total sales have topped $1.2 billion and the companyanticipates selling another 30,000 homes through 2009.About Hudson & Marshall of Texas, Inc.Auctioneer/BrokerH&M is America's Premier Auction Authority. Our 40-year history combined withour continued process enhancements have allowed us to become one of thelargest and most respected real estate auction firms in the United States. H&Mhas set the standard as a full service auction company and continues toconsistently raise the bar for our industry. Our number one priority is toprovide top-quality service to our customers.
