How to Purchase a Government Land in Auction

Buying land can seem intimidating, but it doesn’t have to be difficult if you know what to expect when you go in. If you are looking to buy a piece of land, the government is one of the best places to start your search. The government offers many different types of land for sale at their auction sites. Some auctions may even be specifically designed for homes or businesses! Follow these steps, and buying a piece of property will be much easier than expected! 

The government has a lot of land ready to be sold, but they lack time and commitment, so they use various auction websites that help the government sell the land as easily as possible. Before you start looking for the perfect land that fits all your needs, you must research for the best website that can help you fulfill all your needs. If you wish to buy government land for sale in US, research is what will take you there!

Timeline

The right type of Auction can make the process easier and more efficient. If you’re looking to buy a large plot or piece of property, an early-date real estate sale may be just what your business needs! You’ll have ample time to conduct research before taking out those bids; knowing when they take place and how long closing will last within such tight timelines means there won’t be any suspense at all about whether this purchase is good for them or not.

Level Playing Field

Auctions are one of the most transparent forms of transactions because they operate with complete, open information. Buyers battle it out in an even field and compete on equal footing despite any influence or reputation that may be involved at either end – this is not always true for other types of sales where one party’s willingness to buy might depend upon who else he knows (or doesn’t).

Negotiations

The hassle of negotiating can drain your time, resources, and sanity. Going to governmental real estate auctions saves you from all that by ensuring the terms are known upfront! With the information provided in detail about every property on offer at an auction with due diligence packets for buyers who come prepared, they’ll avoid any surprises when purchasing land.

Options

The multi-property auctions allow buyers to see several offerings in one place and compare. When you plan on buying land at Auction, observing the bidding on a similar property may give your more insight into what is happening with the value of the home that is of your interest. 

Price

In a friendly, competitive environment with the best real estate professionals in attendance, you will be able to arrive at true market value for your land. Bidding on properties can give buyers an inside view into how much people are willing to pay and when they may want that property – especially if it’s currently distressed or priced below what is considered normal. Thereby giving them more time ahead of the purchase decision and securing discounted prices based on current conditions rather than going through long, drawn-out negotiations and only getting discouraged before completing the deal because the seller didn’t budge one penny from the asking price!

It is important to determine the maximum price you are willing to spend on a property before starting an auction. Too often, people get caught up in competition with other bidders and end up overpaying for their land or home.

A Few Terms that you Should be Aware of

Absolute Auction: An absolute auction is a type of public sale in which the property for sale is offered to the highest bidder, with no minimum bid requirement. This term typically refers to an auction conducted by a third party that purchases and sells items on behalf of others. 

The process begins when you submit your online bid for an item that’s up for grabs, just like any regular e-commerce transaction. However, unlike other bidding services where you can offer a price below what others have offered or withdraw your offer before the end of the auction period, Absolute auctions are not flexible. 

Minimum Bid: To protect themselves from being taken advantage of, many sellers set a minimum bid price that guarantees at least the cost owed or prevents buyers from colluding to purchase properties below market value. Market value will be a matter of perception if the property is unique or otherwise tricky to price. 

Government auctions are a great way to purchase land at affordable prices in many cases. You can find all sorts of properties, including raw land, farms, timberland, and more. If you wish to invest in government land, we hope that this blog was able to give you all the information you were looking for. 

Author: Eernesto T Felder

What We Can Learn from Irish Housing Estates

Irish housing estates are just lovely. Lots of green, space, cute houses and windy roads where kids are playing. They look like a perfect little village – the best place to raise a family with all modern comfort available. They are remarkable examples in many ways.

Most of these housing estates that fit this description are developed during the Celtic Tiger period. The “Celtic Tiger” is a term for the very successful Irish economy that emerged during the 1990s and reached its peak in 2000. Ireland made a remarkable transformation from a country of poverty to one of prosperity before the world economic crisis.

Remarkable design of Irish Housing Estates

It is outstanding that the Irish housing estates are designed in a way to promote safety, comfort and general wellbeing. This is achieved by introducing lots of curvy roads in the estates and have only one way in and out, avoiding fast traffic or having a lot of cars that would just pass through.

The houses are designed to the general liking – friendly and homy looking rather than modern. There are rules to implement public greens in the estate as well as dedicating a certain percentage of houses to an affordable living program. Like this also less fortunate families are integrated in the neighbourhood. By doing so, they are avoiding the development of poor neighbourhoods somewhere else that would come with a number of social problems attached.

The Celtic Tiger and the Real Estate Bubble

Image by Zotx on Pixabay 

When Ireland’s growth began to slow down in 2007, there were many warnings that it would not be able to avoid the impending global recession.

In 2008, Ireland was hit by a severe financial crisis as its property market collapsed due to over-speculation and over-development. This is leading to a substantial rise in unemployment rates and substantial falls in wages.

Simply explained, the property bubble started due to a real estate shortage. That’s why many property developments were initiated, that lead to shortage of workers. As more workers were needed, many foreigners came to Ireland to work, who also needed housing… Slowly but surely this was blowing up the bubble.

As a result of the 2008 crisis, high unemployment rates lead to people leaving the country or in case of foreign workers, they would return to their home country. Therefore, no more housing was needed and Ireland was left with a situation of over-development.

How the Irish Government dealt with the Property Bubble

Successfully addressing the housing and property market in Ireland has been a major challenge. That’s why NAMA comes to play.

NAMA is the National Asset Management Agency of Ireland. Set up in 2009, they take on some of the burden of loans from Irish banks. They try to address the financial crisis that Ireland experienced in 2008. The main role of NAMA was to take on some of the burden of bad loans from Irish banks. Also, they try to address the financial crisis that Ireland experienced in 2008.

NAMA purchases assets from financial institutions for cash or bonds, aiming to reduce lending risks for banks and other financial institutions.

We Can Learn From The Irish Housing Estates

We can learn a lot of lessons from the Irish abandoned housing estates. It is important to keep in mind that these developments are still wonderful homes where people live. They will do so for decades to come.

What happened to the Irish housing estates is a good example to study further when it comes to urban planning decisions.

Main image by candelabra on Pixabay