Quaint California Beach Town Offers Bank-Owned Land Parcel in Online Auction
Newport Beach, CA (PRWEB) May 27, 2009 -- Bank-owned auctions are certainly not a new concept, especially in California, but the difference with this auction of a +/- 0.6 acre land parcel, fully-entitled for 14 condominiums in Pismo Beach (http://www.LFC.com/764R2), is that the auction is being conducting completely via the Internet.
The LFC Group of Companies, a southern California-based auction marketing firm, conducts all their auctions in an online format, removing the inconvenience and hassle from buyers spending a day in a chaotic room hoping to be the winning bidder. By visiting LFC.com, interested buyers register to gain access to important property documents and specific information about the land parcel and the auction. The next step for a prospective buyer is to tender an initial bid and bid deposit, thereafter bids can be submitted online, similar to eBay.
"We know there are plenty of investors out there looking to snatch up land - especially in a bank-owned auction," states Kelly Lovegrove, Director of Operations for the LFC Group of Companies (http://www.LFC.com/764R2). "What our online auction offers is the chance for a buyer from anywhere to place bids online and buy the land."
Just minutes from the ocean, this vacant land parcel is backed by a river and perfectly located near parks, popular shopping outlets, and provides easy access to and from the 101 Freeway. Pismo Beach sits along California's central coastline in San Luis Obispo County, with nearby attractions; Hearst Castle, the old-world Danish town of Solvang, the natural hot springs of Avila Beach and many fine wineries.
The minimum bid for this property is $799,000. Property documentation is available on www.LFC.com/764R2 for buyers to conduct due diligence prior to placing their bid before the bid deadline of June 25, 2009.
LFC Group of Companies For more than 30 years, the LFC Group of Companies have served numerous Fortune 500 companies, real estate developers, investors, financial institutions and government agencies by auction marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. www.LFC.com (Commercial) www.FRE.com (Residential). The company also launched www.BigBidder.com, the only online auction website for buying and selling individual real estate-backed Notes.
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