Williamsburg foreclosures being auctioned at the courthouse steps..

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

The auction will be on March 22, 2011 at 12:00 P.M. at the front of the courthouse for the County of James City and the City of Williamsburg, which is located at 5201 Monticello Avenue, Williamsburg, Virginia.

Notice states there will be units from both Greensprings and Powhatan.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Does anybody bid on these TS foreclosures?

Why don't they just use ebay and save the taxpayer money?

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Does anybody bid on these TS foreclosures?

Why don't they just use ebay and save the taxpayer money?

Most likely it is not one week but the whole complex up for grabs.Even discounted as they are the cost is way to high to buy for a single person unless your Donald Trump. People who bid are mainly developers who will rebuild or fix iy up.

[Spence Super Moderator Find all posts View Profile Close Spence]

I went to the steps at the front of the courthouse for the County of James City and the City of Williamsburg located at 5201 Monticello Avenue, Williamsburg, Virginia; back before TS4Ms even existed. At that time, the developer bought everything back at prices above what I would have paid before things hit rock bottom.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

These are interval ownerships.. These auctions are routine in Orlando. Not many people go other than developer reps and the occassional reseller.

[swilshire Senior Member Find all posts View Profile Close swilshire]

Does anybody bid on these TS foreclosures?

I bought a couple years ago this way and have friends who have done the same. Typically there would be three or four people there and the HOA would buy the majority. In my earlier days of attending, the HOA wouldn't bid against an interested buyer. Then the prices went up some and they were bidding more than I was willing to pay, so I stopped going. Guess it would be different these days, but I'm not interested enough to drive an hour to the Gatlinburg area.

There is probably no cost at all to the taxpayers. The County Clerk performed the auction and she gets paid her salary anyway. The new owners paid a fee to the county to register the deeds, so the taxpayers came out ahead.

I'm sure the HOA had fees for the lawyer who attended.

Sheila