IDX Realty to auction $100 million in properties

Orlando based IDX Realty will auction an estimated $100 million worth of real estate early next month in one of the largest real estate auctions during this declining market.

The October 6 auction will be both conducted in person at the Orlando DoubleTree Suites Hotel and on the internet.  The event will take place from 11 am to 6 pm.

Properties will be mostly throughout Florida, but there will also be properties from Georgia, North Carolina, and New Jersey.  Most of these properties will have no minimum bid and are being auctioned to move quickly during this slow market.  Over 60 properties ranging from vacant land to multimillion dollar estate homes will be sold by investors.

Buyers will be required to deposit 10 percent of the final sale price at the end of the auction, with closings generally set to occur 30 to 45 days after that.