SOURCE: Hagen Realty Group
CARROLLTON, GA--(Marketwire - Jun 28, 2012) - Approximately 18 properties -- including commercial and residential land, homes and home sites -- will sell in a two-day auction July 24-25, with Hagen Realty Group managing the events. Many of the properties are expected to sell at a fraction of their previous list prices or tax assessment values.
The sale will conducted as part of a "loss share" agreement in which the Federal Deposit Insurance Corp. (FDIC) will cover a portion of the seller's losses on covered properties.
"This is the best selection of residential and commercial properties we've had in quite a while in Georgia, and the lender has agreed to sell them at prices that in some cases are less than 10 percent of previous asking prices," said Kim Hagen, president of the auction company.
"Most of these properties are in the Interstate 85 corridor northeast of Atlanta. On Tuesday, July 24, we'll auction the properties in Braselton, Winder and areas to the east of there, including Jefferson, Commerce and Comer. On Wednesday, we'll sell the properties closer to Atlanta, in Lawrenceville, Snellville, Loganville, Auburn and East Point," said Hagen.
Several of the properties include multiple home sites in luxury subdivisions, including the Traditions of Braselton, an exclusive swim, tennis and golf community. "We will have golf course home sites selling to the highest bidder above $9,000," said Hagen. Another luxury subdivision -- the gated Versailles -- will include 11 home sites.
Other properties being sold at auction include a four-bedroom home in Loganville, previously listed at $200,000, but selling to the highest bidder over $75,000.
The event July 24 will begin at 11 a.m. at the Comfort Inn & Suites in Commerce. The event July 25 will be held at 4006 Wild Orchid Lane in Loganville. Individuals interested in additional information may contact Hagen at 800-942-6475 or visit hrgsold.com.
Hagen Realty Group, headquartered in Carrollton, is a leading auctioneer of commercial and residential properties. More auction communications.