Williams & Williams Real Estate Auction says it has expanded its foreclosure auction program for lenders and servicers in the U.S.
Following a successful pilot program in Texas on behalf of a large special servicer, the company says, its next scheduled sales will occur Dec. 2 in several markets, including Arizona and Georgia.
As foreclosure sales increase to deal with zombie properties long stuck in the foreclosure process, Williams & Williams says it expects to be busy. "We'll be handling the government-mandated [U.S. Housing and Urban Development] sales, as well as clients' value-based assets to help them get more third-party purchasers buying these homes," says Doug Turner, who heads up the bank sales division.
"There are plenty of ready, willing and able buyers for homes, but oftentimes it's difficult to find out what homes are really for sale, when and how to buy them, or if the value they offer is based upon something real – beyond just determining how much they can afford to pay," he adds. "Expanding our professional auction services footprint to these non-judicial foreclosure sales opens the marketplace to potential buyers and is beneficial to all stakeholders."