700 Foreclosed Homes Up For Auction In Atlanta
Atlanta, Georgia – Real Estate Disposition Corp., the largest foreclosure auction house in the U.S., has 700 foreclosed properties owned by banks on the auction block at the Georgia World Congress Center in Atlanta, Georgia.
The auction, according to a NBC 11Alive news report, is one of the largest foreclosure auctions in the city’s history. Hundreds of home buyers bid on houses, town homes, and condos listed tens of thousands of dollars below market value.
It’s the only place you can find a $100,000 home with a starting price of $1000, the report added.
Auctioneers at the center said home buyers could walk away with a discount of up to 25 percent and in some cases, a bargain home at 50 percent less than its original value, according to reports.
RED said that since July, property value in the area has depreciated more than eight percent as Atlanta hit a record number of foreclosures since May.
The four-day auction started Saturday, May 3. Atlanta-area locales have designated days for the auction: Saturday, Northwest Atlanta; Sunday, Southeast Atlanta; Monday, Southwest Atlanta; and Friday, Northeast Atlanta.
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