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Home Auction To Take Place In SoCal

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Mar 3, 2009 10:05 am US/Pacific

Home Auction To Take Place In SoCal

LOS ANGELES (CBS) ― With foreclosures skyrocketing, this could be a good time to purchase a home at a bargain price. A list of foreclosed homes will be going on the auction block on March 7 in Southern California.

The event, which will be held at the Pomona Fairplex, will action off 250 bank-owned properties throughout the Greater Los Angeles area. 

Most are expected to sell for 25 to 40 percent below their list price. But there is usually a dollar amount the bank is hoping to hit.

Those hoping to participate in the auction are encouraged to bring a realtor to the auction, come with a $5,000 cashier's check and be pre-approved.

For a complete list of the foreclosed homes or to register for the auction, visit Zetabid.com.

(© MMX, CBS Broadcasting Inc. All Rights Reserved.)

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