Home Register FAQ Members List Social Groups Calendar Search Today's Posts Mark Forums Read

Go Back   New House Flip > Buying Properties > Real Estate Auctions

Reply
 
Thread Tools Display Modes
  #1  
Old 04-04-2008, 05:56 PM
thohome thohome is offline
Senior Member
 
Join Date: Dec 2007
Posts: 402
Thanks: 0
Thanked 4 Times in 4 Posts
Default Buying Foreclosed Homes At Real Estate Auctions

Quote:
BUYING FORECLOSED HOMES AT REAL ESTATE AUCTIONS
When you hear of a house selling on the courthouse steps, this is literally what happens. In a home foreclosure auction, lenders and buyers will congregate outside the courthouse, bidding on properties. This bidding is very intense and the process moves quickly. To avoid potentially devastating results, you must conduct as much research as possible prior to bidding in any real estate auction.

In order to participate in home foreclosure auction buying, you first need to do the following:
Prior to the sale, thoroughly research any properties you are interested in purchasing;
Prior to the sale, perform a full title search on the property to insure that the foreclosing entity is the first mortgage holder;
Keep your expectations realistic;
Evaluate your potential profit versus loss should you win the bid;
Decide what your highest bid will be and stick to it.
read more here
http://www.tenspider.net/real-estate...-auctions.html
Reply With Quote
  #2  
Old 04-05-2008, 03:29 PM
badmomma's Avatar
badmomma badmomma is offline
Moderator
 
Join Date: Jan 2008
Location: michigan
Posts: 1,049
Thanks: 34
Thanked 48 Times in 43 Posts
Default Buying Foreclosed Homes At Real Estate Auctions

Thank you for sharing this information. I have seen some
really good homes on the auction block. I have also seen
some that were in really bad shape. You have to fiqure in
the cost of repairs before you make the purchase. You could
be biting off more than you can chew.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 10:24 AM.
Style Developed by Andrew Slane

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
Contact Us - New House Flip - Archive - Top