FAQs – Government Foreclosure Listings in My Area

FAQs

  1. What is the APN for a parcel of land?
  2. APNs, or Assessor’s Parcel Number, are assigned to real estate to identify and track property. In the U.S., APNs are typically assigned by the local taxing authority, such as the city or county within which the property is located. Maps showing the parcel numbers are maintained in map books by the county assessor.


  3. Why are there no exact photos of the land being auctioned?
  4. We own and sell thousands of parcels of land and government foreclosure listings within the U.S. and Canada. This land is constantly being turned over, and it is not physically possible for us to visit every property we sell to obtain photos. The photos we provide are representative of the area and are not intended to be specific. We urge all prospective buyers to research the property of interest and physically examine it, if possible, prior to bidding or purchasing.


  5. Can you send me photos of the exact parcel of land for sale?
  6. Unfortunately this is not possible. We buy hundreds of parcels of land from across the U.S. and Canada. Because new land is added to our large inventory each day and constantly being turned over, it is not physically possible for us to visit every property we sell to obtain photos. If you are interested in bidding on a specific parcel of land, we encourage you to examine and research the property of interest prior to bidding or purchasing.


  7. How can a person bid on land auctions not represented by exact photos and specifics on property?
  8. Many times this is how we purchase our property. The photos we provide are representative of the area and are not intended to be specific.

    Each listing contains all the information we have about that particular parcel of land (e.g., APN, parcel size, location, time limit to build, power, water, phone, sewer/septic, roads, dues, taxes, terrain, zoning and county assessor’s phone number). If a plat map or surveyor map is included in the land file, we list that as well. All information contained in each listing came from reliable sources and is accurate to the best of our knowledge. You can use the APN to call the county assessor’s office and obtain additional specifics about the land. If you do not see a phone number for the assessor’s office in the listing, you can find it in the Due Diligence section of our web site.

    We urge all prospective buyers to research the property of interest and physically examine it, if possible, prior to bidding or purchasing.


  9. How do I know what is actually on the land before I make a bid?
  10. Most of the land we sell on our government auction site is raw land, which means it is completely undeveloped and has no buildings or any physical structures on it. If you are want to learn more about the terrain (mountain, desert, coastal, plains, etc.) or features of the land (on or near a body of water, forest, nature preserve, hunting grounds, etc.) that are not provided in our description, you should use the APN to call the county assessor’s office and obtain additional specifics about the land. If you do not see a phone number for the assessor’s office in the listing, you can find it in the Due Diligence section of our web site.

    If it is a lot for sale with a home or commercial building, this is different than raw land and will be disclosed in the listing.

  11. If a listing has no bid after the closing date, what happens to it?
  12. If a listing has no bids, we will then recycle it a few weeks later and put it back up for sale. If you find a property without any bids and you don’t want to wait for it to go on sale again, you can contact us directly and make an offer.


  13. For Bid & Assume sales, is the interest rate negotiable?
  14. No, the interest rate is a fixed 9.5% APR fully amortized. Everyone qualifies; there are no credit checks or pre-qualifications.


  15. How do you determine the price for a parcel of land?
  16. There are a number of factors that determine the price we set for a parcel of land, including what our cost of the land is and whether the land will be sold outright in a straight sale (paid for in one lump sum) or financed over time in a Bid & Assume sale (paid for in monthly installments).


  17. Is a bid to buy land a bid to purchase the complete parcel outright or a bid for the down payment?
  18. It can be either. We sell land two ways: You can purchase the property outright and pay one lump sum at the time of closing. You will then receive free and clear title. In that case, your bid is then entire sum you will pay, plus a 10% buyer’s premium and a $249 processing fee.

    You can purchase the land in a Bid & Assume sale, in which you will finance the sale and make monthly payments on the land at 9.5% interest plus $6/month processing fee and nay monthly pro-rated property taxes. You will receive free and clear title when the land is paid off. In that case, your bid is a down payment and is subtracted from the total price, plus you pay a $199 processing fee.


  19. Does the land you sell come with mineral rights?
  20. Every state has different rules and regulations when it comes to mineral rights. We are not experts on local rules that oversee these areas. All the information we have on the property is included on the listing page. We can help you find further information about the land, as we recommend you call the county assessor’s office and provide them with the APN to obtain additional information. If you do not see a phone number for the assessor’s office in the listing, you can find it in the Due Diligence section of our web site.


  21. Does the land you sell come with oil and gas rights?
  22. Every state has different rules and regulations when it comes to oil and gas rights. We are not experts on local rules that oversee these areas. All the information we have on the property is included on the listing page. We can help you find further information about the land, as we recommend you call the county assessor’s office and provide them with the APN to obtain additional information. If you do not see a phone number for the assessor’s office in the listing, you can find it in the Due Diligence section of our web site.


  23. Are there any usage restrictions on the land you sell?
  24. Each parcel of land is unique, and usage restrictions may vary. All the information we have on the property is included on the listing page. If you have further questions about the land, we recommend you call the county assessor’s office and provide them with the APN to obtain additional information. If you do not see a phone number for the assessor’s office in the listing, you can find it in the Due Diligence section of our web site.


  25. The land auction that I am interested in says it is financed. Does that mean there is a balance on the land?
  26. Yes, it does. If a parcel of land is financed, you will make monthly installment payments on the purchase price (minus your down payment/bid), at 9.5% interest, until it is paid off. We provide the financing with no credit checks or pre-qualifications – everyone qualifies. Once the property is paid off, you will receive the deed and free and clear title.


  27. For a Bid & Assume sale, how many years long is the payment schedule?
  28. How many months or years you will make payments depends on the purchase price of the property and the amount of your monthly payment. The length of your payment schedule will be stated in your contract.


  29. For a Bid & Assume sale, can I pay off the mortgage early without penalty?
  30. Yes, you can pay off the mortgage at any time without penalty. We do not charge any additional fees, service charges or prepayment fines.


  31. I am interested in purchasing property through your government foreclosure listings in my area, but the emails I get from you does not come with enough advance notice to see the property before I make a bid. Is there any way to get advance notice?
  32. Yes, if you can let us know what you are interested in (location – state/county, size, item, lot), we would be happy to provide you additional lead time. The more specific you can be, the better.


  33. How do I perform due diligence on property for auction in Canada?
  34. We provide the local province contact number (similar to the county assessor in the U.S.) You should be able to call the local province and provide them with the land description and coordinates included on the listing page for further assistance.


  35. What is the turnaround time after I have won a bid?
  36. As soon as we receive your payment and vesting information, we will begin processing the paperwork related to the transfer of ownership. It usually takes approximately 14 to 21 days to prepare and complete all of the paperwork. We will then ship, track and deliver your documents by FedEx or UPS.


  37. When the sale is complete, what documents will I receive and what do I need to do after that?
  38. If you purchase outright with one lump sum payment for your land, you will receive your land warranty deed, property tax bill, conveyance tax certificate, plat map, and instructions on filing your deed with the local county.

    If you purchase with financing, you will receive the standard agreement of sale and specifics on your monthly installment payment. You review and sign your contract, keep a copy for your files and return the original to us in the self-addressed envelope.


  39. Are there any restrictions on non-U.S. citizens purchasing land from GovernmentAuction.com?
  40. Through Government Auction’s auction site, generally there are no restrictions on foreigners buying raw land from us. However, we do request that non-U.S. citizens pay by credit card or wire transfer.


  41. I purchased land through a financed sale. Can I set up automatic monthly payments?
  42. Yes. In fact, if you provided us with your credit card or bank account information when you registered on GovernmentAuction.com, you were automatically enrolled in Auto Pay after winning your bid. Your monthly payment is automatically charged to the account on file and we do not charge the $6/month fee we normally charge for processing your payment.

    If you did not provide your billing information when you registered, or your billing information has since changed, you can add or update it by logging in to your GovernmentAuction.com account and going to the Profile page. We accept Visa, MasterCard, American Express and Discover credit cards, or you may use your checking or savings account to pay.