Hi Sierra: Michelle has answered your question but I'd like to expand on it a little. People who purchase properties at Trustee's Sales on the courthouse steps have done a ton of research before purchasing the property at auction. And today, most properties are not worthy of purchase at the courthouse steps. For a property to qualify for someone to purchase at auction, it needs some equity or to be at least valued at market value, which, as you can imagine, most properties are worth less than is owed on the note or notes.

So, I guess the most important answer you are looking for is that you need CASH to purchase a property at the courthouse steps.

To purchase real estate at the courthouse steps is a full-time job and this is how some people employ themselves.

Good luck. I hope this helps.

To qualify, you will need to show the auctioneer cash or cashier’s checks sufficient to cover any bids you will be making. Some Trustees specify checks are to be made out to them, usually you can get cashier’s check made payable to you, then if you are a successful bidder, you endorse them payable to the Trustee. I have heard of some horror stories. Be fully aware of whay you are buying and if there are liens on the property.