HOUSTON, Oct. 6, 2011 /PRNewswire/ -- In what promises to be the best buying opportunity of the year, the Houston Housing Authority has directed the sale of 171 homes and 3 development lots located throughout the Houston metropolitan area.  The properties will be sold to the highest bidders at a one-day auction event scheduled for Saturday, November 12th, 2011. The Auctioneers are National Residential Auctioneers, LLC and Paul A. Lynn & Associates, LLC. The auction will be held at the Marriott Westchase Hotel, 2900 Briarpark Dr., Houston, TX, starting at 10am.  Registration begins at 8:00am.

The homes and lots will be sold at auction on an Absolute basis to the highest bidder.  The auction will be structured in three time frames, 45 properties will be sold in a public auction starting at 10:00 AM, after completion of the initial public sale, there will be a special reserve auction for pre-approved Non-Profit, 501(c)(3) organizations commencing at 1pm, and then at 2pm all of the remaining properties will be sold at the final Absolute auction open to all bidders.

"This represents an opportunity for home buyers, Non-Profit organizations and investors to purchase one or multiple properties, fix them up and provide housing opportunities for both owner occupants and renters," said Paul A. Lynn, CCIM, Principal of Paul A. Lynn & Associates, LLC, Texas Real Estate Broker and Auctioneer.

The properties are sold in "AS-IS, WHERE-IS" condition, will not be sold subject to any types of contingencies and will need to close within 30 days after the auction. Financing will not be a contingency on any sale. A 5% Buyers Premium applies to the General Public auctions.

There will be a bidders "how to buy" seminar on Wednesday, October 26, at 7pm, at the Neighborhood Resource Center (NRC, 815 Crosby, 77019) open to all interested buyers.  All properties will be open for the two successive weekends on a Saturday or Sunday of October 29 and 30 and November 5 and 6, from 11am to 1pm or 2pm to 4pm.  Visit www.natresauctions.com/HHA for specific days and times.

For additional information about this Houston Housing Authority scattered site auction, and pre-registration, please call the sales office at 877-895-7077 or visit www.natresauctions.com/HHA.

SOURCE National Residential Auctioneers