Six Richmond-area homes to be auctioned in Maryland

Foreclosure auctions

About 55 foreclosed homes, including six in the Richmond area and 14 in the Norfolk area, are set to be auctioned Aug. 1 and 2.

Single-family homes, condos and two four-units are available. Tax credits and financing programs may be available.

Most houses will be open for inspection July 25 and July 26 from 12 p.m. to 4 p.m. Homes not sold during a pre-auction sales period will be offered at one of the two scheduled auctions.

Prospective bidders need to bring $2,500 cashier's checks made out to themselves. If they are the winning bidder, the money will be used as a deposit. Five percent of the bidding price will be added to the final price.

People should check with their lenders in advance to establish loan limits, said Marty Clouser, senior vice president at Kennedy Wilson Auction Group in Beverly Hills, Calif., which will conduct the auction.

He also suggested that people check the Web site regularly because the status of the houses changes.

The site includes a "bid today" features that allows prospective buyers to make offers online or through agents before the auction.

"Lenders have a reserve price in mind, but they are highly motivated," Clouser said. "Basically, they are looking for a realistic price."

The auction for houses in Virginia, including the Richmond area, Maryland and Washington is scheduled for Aug. 2, starting at 11 a.m., at the Marriott Inn and Conference Center in Adelphi, Md.

The auction for Norfolk-area houses is Aug. 1, starting at 11 a.m., at the Courtyard Marriott on East Plume Street in Norfolk. -- Carol Hazard