If a local auction company is doing the auction - such as Marshall, then an open house will be held and you'll be able to visually inspect typically the week before.
You may or may not need cash, some auctions are done where financing is available, it will depend on the company holding the auction.
If you are doing a purchase on the courthouse steps, then cash is required. I'm happy to assist in anyway that I can with your Rosamond purchase.
Tamara Stoebe, REALTOR/Notary
GRI, e-PRO, CHS, QSC
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Fax (661) 422-3006
Wait for the bank to buy it, decide how much they will lose and make an offer when they list it for sale. OR go out and buy a regular sale from Mr Smith or Mr Jones and get a home with less issues to deal with than one previously foreclosed. All bank owned homes are not super dooper deals, they come with issues sometimes because they were owned by people not willing or able to keep the house in good repair for a year or longer.
1. You will need all cash
2. You will not be able to do inspections
3. There could be clouds on title - you could ask a title co to run a report for you and have an attorney review it to get a better idea about that
4. You will be going up against veteran investors who do this all the time.
I would look at REOs - foreclosed properties listed on the MLS. You can do inspections and be sure of clear title