Check the bottom of this site.
http://www.foreclosurenest.com/
Has a list of foreclosure auction companies with there local listings.

Randy,

It's important to preview the property before the auction, paying close attention to big ticket items, ie roof, cellar, kitchen, bathrooms, foundation, wiring, plumbing etc. Some people benefif by bring someone with them that is knowledgable about building systems and repair costs.

You are absolutely correct about the process moving fast so.........do your homework and establish a top price that you WILL NOT exceed. People that do not commit to this often find themselves paying too much for the property.

Another big factor is "knowing the rules." So contact the auctioneer and request a copy of the guidelines for this sale. It should spell out the details and provide you with information you need to avoid surprises and/or disappointment.

Best wishes,
The Eckler Team

Micheal Saunders & Company
billeckler@michaelsaunders.com
941-408-5363

Is this a foreclosure auction? If so, what is owed to the bank? It is very likely to be more than what it is worth in today's market, but the bank will be buying it for what is owed to them. So, to win, you'll have pay more than the bank will. You can contact the trustee if you don't know what the bank's bid will be... and then plan on paying more. The trustee will tell you how much $ you need to bring in certified funds, when you'll have to close, etc. Hopefully you're a cash buyer - you'll have no rights to inspection, including appraisal (which is probably required if you plan to get a loan) no financing contingencies or anything else. And, you might want to check to see what rights of redemption the current homeowner might have post foreclosure....make sure you can get title insurance. If you don't have a title search done prior to the foreclosure you may end up buying the property subject to other liens that are already on the property - again, questions for the title attorney.

Honestly... no, I do not think that couthosue auctions are a good place for most people to buy homes. But, some do. Right now, the sales I am seeing at foreclosure auctions are the worst deals. Buyers are overpaying. They are getting houses in poor condition, occupied by people who won't leave (requiring eviction, which is your job), or losing huge deposits because they can't get financing.

ON THE OTHER HAND, if it is a public auction being held by the current owner, it's a different story. The auctioneer can give you information about terms and conditions. Still, be careful... know what you are willing to pay before you get there, and then stick to your guns. I've seen these be great deals and terrible deals, depending on turnout.

A broker is not required, ever, but you must know the value of the property, and you must know the process. Buying at a foreclosure, no one will be helping you....it's all on you. If you have an agent/broker, then they can handle or at least guide you through most issues. Depending on the auction, you may have to pay out of pocket for their fee. Foreclosure auctions do not pay buyers agents. If you hire an agent, find one that is a certified auction specialist, very few are - I'd be glad to recommend someone in your area. Contact me directly at vchrisner@kw.com

Good luck!