FAQs
US Treasury Department Seized Real Property Auctions
Seized Real Property Auctions
Below are common questions and answers about buying at CWSAMS Seized Real Property online and live auctions. Seized Real Property is all real estate that is seized by the federal government due to criminal activity. If you have additional questions, please see the Terms of Sale for the specific auction you are interested in, or contact us at (703) 273-7373 or email realproperty@cwsams.com. Go to the How-to Guide for a step-by-step process on how to bid in real estate auctions.
In addition to reading the Terms of Sale, to be best prepared to participate in an auction, attend the scheduled public preview or visit the specific auction page.
Real Property Common Questions
Typically, a wide variety of real property is available, including homes, condominiums, commercial buildings, operating businesses, and vacant land.
It is strongly recommended that you attend the open houses/inspections that are scheduled prior to sale. The bidder is invited, urged, and cautioned to inspect the property prior to submitting a bid. Failure to inspect property shall not constitute cause for cancellation of sale. Property will be available for inspection only at the times specified. At their own expense, potential bidders may have property inspectors examine the property during regularly scheduled open houses.
Properties that are designated as “Online Auctions” are available for online bidding. If designated as a “Live Auction”, online bidding is NOT available and you must be present to participate in the sale.
Yes, a written sales contract will be prepared at the conclusion of an auction (live or online) with the High Bidder and the Back-up Bidder. Click here to view a sample contract. Click here to view a sample contract.
A Special Warranty Deed requires the Government to defend the title against defects or claims arising from the forfeiture process and to indemnify the buyer. This deed may be issued with or without title insurance depending on the specific nature of the forfeiture action. An announcement will be made in the sale flyer, auction site, and on the day of sale to specify the title insurance status. Click here to view a sample Special Warranty Deed.
A Government Deed provides a clear title to the property with all back-taxes, liens and/or encumbrances of record paid by the Government. Title Insurance is available at Buyer’s expense. Click here to view a sample Government Deed.
Cashier’s or Certified checks made payable to CWS Marketing Group, Inc are the only forms of payment accepted. Forms of payment that are not accepted include: Personal or business checks, money orders, cash, credit cards, bank letters, or letters of credit. Click here to view a sample check. Please check the Terms of Sale for the specific instructions regarding payment. A link to the Terms of Sale can be found on each property’s webpage.
FOR LIVE (ONSITE) AUCTIONS ONLY: It depends on how many properties you are planning to buy. If you wish to bid on all but purchase only one, than you need only one deposit check (generally the properties will be sold in the order they have been listed on the website and flyer.) If you are planning on buying more than one property, you will need a deposit check for each one. You have a choice of having multiple checks or one check totaling the sum of the deposits needed. However, if you do not win all of them, you will need to leave that check as an initial payment(s) toward the final price of the property or properties. We do not have the capability to refund a portion of a deposit check.
FOR ONLINE AUCTIONS ONLY: If you plan to bid on multiple properties you will need a cashier’s check deposit for each auction. Deposit checks for online sales cannot be transferred from auction to auction or day to day. We also cannot hold deposit checks for future auctions. All unsuccessful bidders checks will be returned after the auction.
Occasionally the Government will establish a minimum/reserve bid which is not released to the public. In most cases, the minimum/reserve bid is met. In the event the high bid does not reach the minimum/reserve bid, the Government may open negotiations with the high bidder. The Government reserves the right to accept or reject any and all bids.
Yes. The Terms of Sale are the specific guidelines and rules that each bidder is required to follow. You can find the Terms of Sale linked in the description of each real property listing on the Treasury website.
Closing is usually required within 45 calendar days of sale or sooner. Only the seller may, at its discretion, exceed closing beyond 45 calendar days. Payment in full is due at Closing. Closing costs, including and without limitation, transfer taxes, documentary stamps, recording fees, and escrow fees will be paid by the Buyer and Seller in accordance with the customs of the county in which the property is located, unless stated otherwise in the individual Terms and Conditions of Sale.
If you cannot make deposits or final payments within the time frames specified in the Terms of Sale, you will forfeit any right and interest in the property. Title of the property will remain with the Government and you will forfeit any deposits you made.
The Government does not offer financing. Proof of financing is NOT required to participate in the auction. However, you are strongly encouraged to investigate and secure financing arrangements, if required, prior to participating in an auction. Failure to obtain financing does not relieve you of your obligation to close on the property.
Unless stated otherwise, a clear title will be conveyed via a Government Deed. Back taxes, liens and/or other encumbrances will be paid by the Government. Sometimes, title is conveyed with Special Warranty Deed or Quit Claim Deed. The type of deed will be identified in the Terms of Sale.
No, you do not need a broker in order to bid. If you do have a broker, all arrangements, including any fees and broker commissions, are strictly between you and the broker.
No, the government does not pay broker commissions. If a broker represents a buyer, all arrangements, including any fees and broker commissions, are strictly between the broker and their client.
Yes. You must be over 18 years old and cannot be the party or agent of the party from whom the property was seized. Forfeited real property will not be sold to the defendant or person(s) acting as his/her agent. Should this be found to be true, the real property sales contract may be cancelled by the Government after review of records.
Yes, but you must have a valid, government issued, photo ID to register.
Employees of the Department of Treasury and members of their immediate family are prohibited from bidding on any real property. If you work for another Government agency, check your agency’s policies.
Most property is seized due to smuggling, drug trafficking, money laundering, credit card fraud, food stamp fraud, mail fraud or other illegal activity.
The Department of the Treasury has designated CWS Asset Management & Sales (CWSAMS) as the prime contractor responsible for the maintenance and sale of seized and forfeited real property throughout the U.S. Our website is incorporated into the official Treasury site. CWS is not affiliated with any other auction information services, seminars, or publications, and we never charge a fee to access these auction listings.
CWS never charges a fee to access auction listings or to attend an auction. Buyer’s premiums are not charged at any seized property auction.
