LPS Auction Solutions to sell portfolio of foreclosures through online auction

Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage and real estate industries, has announced that its LPS Auction Solutions division will conduct an online auction of bank-foreclosed homes located nationwide. The bid deadline is Aug. 30, 2010. Some regions to be represented in the portfolio include Portland, Ore.; Kansas City, Mo.; the Columbus, Akron, Cleveland and Dayton, Ohio regions; Portland, Maine; Knoxville, Tenn. and the greater Chicagoland area.
Property information and photos of the homes for sale are available at www.LPSAuctions.com. The varied portfolio of properties includes single-family homes, multi-family homes, and condominiums.
Bids may be placed by visiting www.LPSAuctions.com and selecting "Bid Now" on each individual property's page. A quick, no-cost registration is required to bid. Buyers are encouraged to bid early because sellers may accept offers made prior to the bid deadline. Once the winning bidder is selected, a signed purchase contract and earnest money deposit must be submitted.
"This auction offers the perfect vehicle for first-time homebuyers to buy a home or for investors to add to their portfolio at very affordable, competitive prices," said Evan Gladstone, managing director, LPS Auction Solutions.
Most homes will be available for viewing on Saturday, Aug. 21; Sunday, Aug. 22; and Saturday, Aug. 28, from noon-4:00 p.m. in each property's respective time zone. A complete list of open houses is available online at the LPS Auction Solutions Web site at www.LPSAuctions.com.
All bids will be subject to seller approval. A co-op broker fee equal to three percent of the high-bid price will be payable on most homes to qualified licensed brokers whose clients close on the purchase of a property.
For more information, visit www.LPSAuctions.com.