Responding to the surge in defaulted and foreclosed properties, Fast Home Auction has launched an online auction site for real estate professionals. The Web site, www.fasthomeauction.com, enables real estate professionals to buy and sell defaulted and foreclosed properties across the country with the ease of the familiar online merchandise auction concept.
"Online auctions present an efficient mechanism for buyers to acquire foreclosed property from the REO asset managers," explains James Case, Fast Home Auction's president.
Currently, there are no fees to list a property on the site, and unlike other auction sites, the company says that buyers' fees are never charged, resulting in more money for sellers and a better opportunity for buyers. The site features a searchable Realtor directory, and postings are submitted to all major search engines and made available for virtually all types of property, including single-family, commercial and raw land.