Industry News

Foreclosed homes go on auction block

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Real estate auctioneer Hudson & Marshall is putting 400 single-family homes in Illinois, Indiana, Ohio and Pennsylvania on the auction block in the last week of October. The auctions of foreclosed homes will take place between Oct. 23 and Nov. 1 in Cincinnati, Dayton, Columbus, Lima, Toledo, Mansfield, Youngstown, Canton and Cleveland, Ohio; Chicago and Rockford, Ill.; Kokomo, South Bend, Fort Wayne, Indianapolis, Terre Haute, Rushville and Muncie, Ind.; and Philadelphia and Pittsburgh, Pa. The homes are valued from $5,000 to more than $450,000, and buyers will be required to pay 5 percent down or $2,500, whichever is greater. An online "Bid Now" program allows buyers to make offers to the seller in advance of the sale and receive an immediate response. Properties are sold "as is" and Hudson & Marshall recommends thorough inspections of properties prior to auction. Texas-based Hudson & Marshall says the company has auctioned off $20 billion in real estate since 1967, including $180 mi...