Buying property at the foreclosure auction, or trustee sale, can be rewarding or disastrous. The difference between gain and pain comes down to knowing how it works and being prepared. As a veteran of hundreds of auctions I put together this video to give everyone an overview of the auction process. In less than ten minutes you can watch and learn the basics of how an auction works.
- How to find the actual location of the auction
- The three possible outcomes: postponement, cancellation, or sale
- Things to watch out for, such as
- Multiple auctioneers operating simultaneously
- How to make sure you bid on the correct property
- The implications of the As-Is sale
- Qualifying as a bidder
- A typical bidding scenario
- What happens when you win
ForeclosureRadar.com gives auction investors the freshest foreclosure information – including exclusive daily auction updates – and is the only foreclosure service with tools for making sense of it.Armed with this information, you have the best chance of a rewarding experience on the courthouse steps.
Great video, thanks for posting it!
Hi Sean.
I hear it’s possible to get hard money loans at the auctions if a buyer needs more cash. Is this true and how does it work? Do both parties take title to the property at that time?
Thanks.
Great video, Sean! Interesting to see an auction consummated by a third party, instead of all going back to the bank!
p.s. can I link to this in my blog?
Hey, great presentation!