Deals Abound at Foreclosure Auction of 150 Tennessee and Alabama Homes

MEMPHIS, Tenn., June 20 /PRNewswire-USNewswire/ -- Foreclosures are becoming common place in cities across the country and attracting buyers looking to snag bargains on homes. Hudson & Marshall, the country's largest foreclosure auction firm will auction nearly 150 bank-owned foreclosures throughout Tennessee andAlabama on June 24-26. These homes come with guaranteed title insurance paid for by the sellers, making them even more attractive buys.

"People used to think of foreclosures as distressed property but in today's real estate market where foreclosures abound, many buyers are discovering these homes are not only in great condition but also are extremely affordable," said Dave Webb, principal, Hudson & Marshall.

Valued from as little as $6,500 to nearly $200,000, there are homes of every size, type and price to meet any buyer's needs. Winning bidders will be required to make a deposit of 5% of which $2500 must be paid in cash or a cashier's check, the remaining amount may be paid with a personal check.

According to Realtytrac(R), in May Tennessee's foreclosure rate ranked 14th in the nation among the states, with one in every 639 households receiving a foreclosure filing. By comparison, Alabama's foreclosure rate was one in every 4,203 households, which earned it the number 45th spot among the states.

Homes are sold "as-is" and interested buyers should inspect properties in advance of placing bids. An open house is scheduled for June 21st and 22nd from 1:00pm-3:00pm. Properties may also be viewed by contacting the listing agent and making an appointment. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the homes in the following cities on the following dates: June 24-Memphis (57 homes), Mobile (6 homes); June 25-Montgomery (19 homes),Nashville (9 homes), Gadsen, AL (10 homes); and June 26-Knoxville (8 homes),Huntsville, AL (4 homes), andBirmingham (37 homes).

Prior to the auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept or reject any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall ofTexas, Inc is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

About Hudson & Marshall of Texas Inc.

H&M is America's Premier Auction Authority. Our 40-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms inthe United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M's streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 70,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.

Contract: Crystal Wright

Public Relations Strategist

202/829-0848

SOURCE Hudson & Marshall of Texas Inc.

Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze, Daily News

Tags: Real Estate, Banking and Finance, National, district of columbia, tennessee, Alabama

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