PUERTO RICO – In search of affordable houses near breathetaking beaches? Puerto Rico has got what you are looking for.
Auction.com, an online real estate marketplace based in Irvine, California, has started its 4-day online auction event, selling more than 100 bank-owned residential properties located in Puerto Rico.
According to PR Newswire, most of the properties are financeable and designed for single family occupants and multi-family residents. All of them are sold individually “as is” or with their currenct conditions remained untouched. The online bidding has already started on February 21 and will end on the 24th.
For every property, title insurance is already provided and closings are expected to be completed within 45 to 60 days. Furthemore, Auction.com offers a 3 percent broker co-op on all the auctioned properties.
“This special event is another example of the global nature of real estate, and how our online platform can bring exciting opportunities to investors around the world,” said Jason Allnutt, general manager of Auction.com. “These properties are priced to sell, presenting a great opportunity for both investors looking for rental homes in Puerto Rico and to first-time homebuyers in the region who are able to secure financing.”