Purchasing a home via an auction can be a venture that recognizes great value. However, on the other hand, it can be an experience that one would like to put behind them.
When persuing property by this means, buyers would be well advised to have a working understanding of the process, what it involves, and the risks taken. Distressed auctions can find the new owner taking on much more than they bargined for. Liens, back taxes, law suits, deadbeat tenants are just a few of the unwelcomed suprises that could be waiting for the new owner.
Our recommendation is to do some homework and become informed about both the process and the subject home prior to tossing your hat into this ring.