The homes are sold "as-is, where-is," with no opportunity to view or inspect the property until you own it. There's always the possibility that it will need considerable work beyond cosmetic improvements ... foundation, under-slab plumbing, roof, etc. All that is on the buyer ... it's yours as it sits.
Your competition will be experienced investors, who know of the pitfalls and have the wherewithal to handle the necessary repairs and improvements. You need to determine whether you have that kind of money, and are willing to take the risk.
The figure quoted will likely be the opening bid ... expect the home to sell for considerably more. These "courthouse steps" auctions are obviously not for the inexperienced or faint of heart. If you're looking for a home, your best bet is to work with a Realtor, who will find the ones that work best for you, as well as protect your interests throughout the transaction ... all at no cost to you as a buyer.
Of course, everyone wants that once-in-a-lifetime bargain ... but In this climate of a thriving market and depleted inventories, nobody's giving away houses, at auction or elsewhere. If I can be of further assistance, please get in touch. I look forward to hearing from you.
We have the ability to search for those on our MLS systems. Let us know if we can assist you.
Bernstein Realty, Inc.
Enrique "Rick" Trevino
Realtor / Marketing Coach
Certified Home Marketing Specialist
Prudential Anderson Properties
13315 Wallisville Rd.
Houston, TX. 77049
Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
http://www.lynn911.com 100's of Dallas homes listed for sale or lease
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