Foreclosed homes up for auction this weekend

By Laura Geller - bio | email

Posted by Terry Alexander - email

RICHMOND, VA (WWBT) - "Homes for sale" is not a surprising headline these days.  But here's the kicker, the prices on homes up for auction this weekend in Richmond, are something you may actually be able to afford.

Foreclosure is leaving dozens of houses on the auction block. These prices might blow your mind. It's hard to tell what they'll go for, but at this weekend's foreclosure auction, a $200,000 house in Chesterfield will start as low as $9,000!

Realtors call Sunday's auction at the Richmond Convention Center an amazing opportunity. 75 homes throughout Virginia will be up on the block. 25 of those homes are right here in Central Virginia. Lenders foreclosed on the properties, leaving them vacant and looking for new owners.

"Right now, it's a prime opportunity for those that are well positioned to pick up property, increase their rental portfolio and buy their first home. Folks that never had an opportunity to purchase, now they can," said Realtor Tonya K. Smith.

They can, because the prices are rock bottom. Nelda Hall lives next to a vacant house in Chesterfield.

"It's not good to have a house empty all the time.  We need somebody there to take care of it because you worry about anything happening at night time and when nobody's around," said Hall.

The auction starts at 9:30 at the Richmond Convention Center. You do need to register before then, as well as bring your W-2's from the last two years, a $2,500 Cashier's Check and a personal check or cash to pay a percentage of the balance.

For more details on the auction and homes up for grabs click here.

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