I have stumbled upon a unique opportunity for our investors. If you have ever wondered how a foreclosure auction works read on and if possible join us at the Hilton Houston Westchase, Saturday December 20th, 1pm. The auction is being hosted by Hudson & Marshall. From what I can tell there will be approximately 100-125+ properties of all property types up for auction.  Read on for more details of how this works and a list of available properties that will be up for auction.

I’m going to go over the details of how this auction will work and what you will need in order to attend and hopefully make a winning bid.

In order to view the list of properties available in this auction go to: http://www.hudsonandmarshall.com/PropertyListings.aspx?aId=21

The auction will take place at:

Hilton Houston Westchase

9999 Westheimer Rd.

Houston, TX 77042

713-974-1000

Registration begins at 11 am up to 1pm

Essentially, we will have to do a little bit of homework first on these properties before attending the auction. When looking at the list of auction properties and something catches your eye, send it over to me for analysis. I would even go through this list if you’d like and make some suggestions of properties to keep an eye on if I’m asked to do so. I have quickly looked over the list and have a couple that I believe would be worth further investigating.

Here is what you will need when we attend the auction:

• Our list of targeted homes
• A pre-qualification letter (this can be easily obtained through one of my contacts of needed)
• Picture ID
• Social Security number
• Proof of certified funds (cashiers check or money order for $2500) per property that you plan on purchasing
• Articles of incorporation, trust documentation, or other proof of signing authority (this is for those taking title in a company name or trust only)
• Properties are sold as-is and where-is
• There is a 5% buyer’s premium added to all winning bids

Registration for Hudson & Marshall live auctions is available at the door, we will want to make sure we arrive in plenty of time to register before the auction begins. We will need to show a cashier’s check (made payable to yourself), certified funds or cash in the amount of $2500 per each property you plan on purchasing. During the registration process you will be given a bidder card with your registration number printed on it. This card identifies you as an eligible buyer. Before the auction the auctioneer will make announcements. This is how the auctioneer corrects, updates, adds, or deletes properties from the brochure before the bidding starts or relays any important information, so listen carefully.

In addition, there is an opportunity to purchase and bid on these properties prior to the auction on the Hudson and Marshall website. I called to verify but the 5% buyers premium is still added if you purchase the property prior to the auction. Let us know and we will get involved with the presale process as well. It appears all properties will have a reserve that will need to be met, but from what I can tell most, if not all, decision makers will be present at the auction.

I am very excited about this opportunity. My partner Johnny Schiro and myself (Jeremy Larkin) will be attending this auction. Please contact one of us at our office at 281-296-6226 or Jeremy’s cell at 832-622-8100 or Johnny’s cell at 281-627-2486

Icon Realty Group, LLC is an independent real estate brokerage servicing Suburban North Houston, including The Woodlands, Spring, Conroe, Magnolia, Tomball, Cypress, and the surrounding area. Primary services include residential home sales, leasing, investing, and property management. To learn more about us and the services we offer please go to our website at http://www.houstonicon.com/About.aspx

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