Calling home auctions one of the latest trends in the real estate business, two companies plan to put 17 homes in the Baltimore area up for bid this weekend.
Sandra Blaker, of Accelerated Marketing Services, says auctions allow properties to sell quickly -- especially in a slow market like today's.
Accelerated Marketing Services of Columbia plans to sell 10 properties at an auction Sunday at the Holiday Inn at the Timonium Plaza.
Buyers can view the properties on Saturday, March 25, or Sunday by making an appointment with the company. Registration starts at noon, followed by the auction at 2:10 p.m.
Sellers have paid $500 for marketing costs. Buyers will pay Accelerated Marketing a fee of 10 percent of the sale price, which will be split with the seller's listing agent.
Buyers will need to bring a certified check for $1,000 made out to themselves, plus a qualifying letter showing they are eligible for a mortgage to buy the property.
None of the properties have minimum bids, but the sale price must be accepted by the seller.
Homes are sold "as is," with no contingencies for such things as home inspections or the sale of another house.
Properties for sale:
* 3015 Royston Ave., Hamilton, Baltimore, 3-bedroom detached.
* 6308 McClean Blvd., Hamilton, Baltimore, 3-bedroom detached.
* 4212 Parkside Drive, Parkside, Baltimore, 3-bedroom townhouse.
* 2400 Ridgely St., Mount Winans, Baltimore, 3-bedroom townhouse.
* 3111 Leighton Ave., Mondawmin, Baltimore, 3-bedroom townhouse.
* 203 Kaufman Road, Parkton, Baltimore County, 4-bedroom detached.
* 2322 Poplar Road, Essex, Baltimore County, 2-bedroom detached.
* 5654 Arnhem Road, Baltimore County, 3-bedroom townhouse.
* 9700 Robert Jay, Ellicott City, Howard County, 3-bedroom detached.
* 16001 Pheasant Ridge, Woodbine, Howard County, 4-bedroom detached.
For more information, call (410) 730-4495.
Long & Foster Real Estate Inc. is planning a series of auctions this weekend and next. Most Baltimore-area properties will be auctioned from 9 a.m. to 4 p.m. Sunday, March 26.
Buyers will pay a 3 percent fee and are required to bring a certified check for $2,000. Sellers -- who have already spent $750 for marketing costs -- will pay the regular sales commission to their listing agent, typically 6 percent or 7 percent.
All sales are subject to approval by the seller.
Properties for sale Sunday (minimum bid, if any, in parentheses):
* 2040 Cecil Ave., Baltimore, 3-bedroom townhouse.
* 2713 E. Fayette St., Baltimore, 3-bedroom townhouse ($21,000).
* 3903 Edmondson Ave., Baltimore, 3-bedroom townhouse.
* 2116 St. Paul St., Baltimore, townhouse.
* 2101 Hargrove St., Baltimore, 2-bedroom townhouse.
* 4 Fieldspring Court, Lutherville, 3-bedroom detached.
* 14008 Falls Road, Cockeysville, 4-bedroom detached.
For sale on April 1:
* 5504 Baskin St., Churchton, Anne Arundel County, 3-bedroom detached ($95,000).
For more information, call (703) 658-1300.