Another reason for avoiding auction properties is that there is no title insurance, so you could end up with something with a cloudy title that can take a lot of money and years to clear...It's not a good risk for the average buyer. If you get lucky and buy something below market, you'll feel like a brainiac. But if you get it below market, there is also a good chance the pros are all passing on it, and that means they know something you don't, because they have teams who can do the research.
The benefits of the resale market are that you know what you are getting, because you get the benefit of an inspection period and seller disclosures, and title insurance. Good luck to you!
If I can be of any further assistance I am a member of FIABCI/International Real Estate Federation so please feel free to contact me at email@example.com.
1. Cash offer talks!
2. If you need to get a loan, you must have a tax ID (SSN) to qualify for a loan
She put her significant other on the loan, came up with the downpayment, they took out the loan, and her name is on title. She is continuing to look for other properties, in her own name, and plans to buy, all cash.