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  • Will You Add? - Focus on Foreclosure, Part 2 - Finding Gold at Foreclosure Auctions

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    buy at the auction.

    Foreclosure auctions usually don’t attract big crowds. Most of the time, you’ll see about ten or twenty people watching and maybe just one or two actually bidding. It’s common

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    In part one, we talked about how to do preforeclosure investing, which essentially means to help a homeowner stop the foreclosure process. For a variety of reasons, this strategy doesn’t always work. The homeowner may wait until it’s too late, may not be willing to negotiate, or may not even realize this is an option. Or the lender may not be willing to work with you on the deal. Whatever the reason, if the foreclosure isn’t stopped, a judgment is entered, and the property is put up for sale at auction.

    The auction will be held at the local courthouse or another location depending on the laws of the particular state. Typically, the date, time, and place of the sale is published in the local legal notices. Your county clerk’s office can provide you with the information you need to attend and buy at the auction.

    Foreclosure auctions usually don’t attract big crowds. Most of the time, you’ll see about ten or twenty people watching and maybe just one or two actually bidding. It’s common

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    e homeowner may wait until it’s too late, may not be willing to negotiate, or may not even realize this is an option. Or the lender may not be willing to work with you on the deal. Whatever the reason, if the foreclosure isn’t stopped, a judgment is entered, and the property is put up for sale at auction.

    The auction will be held at the local courthouse or another location depending on the laws of the particular state. Typically, the date, time, and place of the sale is published in the local legal notices. Your county clerk’s office can provide you with the information you need to attend and buy at the auction.

    Foreclosure auctions usually don’t attract big crowds. Most of the time, you’ll see about ten or twenty people watching and maybe just one or two actually bidding. It’s common

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    The auction will be held at the local courthouse or another location depending on the laws of the particular state. Typically, the date, time, and place of the sale is published in the local legal notices. Your county clerk’s office can provide you with the information you need to attend and buy at the auction.

    Foreclosure auctions usually don’t attract big crowds. Most of the time, you’ll see about ten or twenty people watching and maybe just one or two actually bidding. It’s common

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    of the particular state. Typically, the date, time, and place of the sale is published in the local legal notices. Your county clerk’s office can provide you with the information you need to attend and buy at the auction.

    Foreclosure auctions usually don’t attract big crowds. Most of the time, you’ll see about ten or twenty people watching and maybe just one or two actually bidding. It’s common

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    buy at the auction.

    Foreclosure auctions usually don’t attract big crowds. Most of the time, you’ll see about ten or twenty people watching and maybe just one or two actually bidding. It’s common for the lender to open the auction with a bid in the amount being foreclosed on; that way, the property is sure to be sold for at least what is owed on it. If that’s the only bid, the auction is over. If there are multiple bidders, the property is sold to the highest bidder.

    In most cases, you’ll need cash or certified funds at an auction, although some states allow you to bid with as little as 10 percent at auction and the balance to be paid within 24 hours. If you don’t have cash of your own, look for a funding partner to work with.

    Try before you buy

    It’s a good idea to attend a few auctions before you’re ready to bid just to see how they operate. Unlike other types of auctions, foreclosure sales are generally low-keyed, but you might see som

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