Depends on the auction. If you are bidding at the trustee sale, on the courthouse steps, then they have to be cashiers checks made payable to cash or to you (and you endorse them to cash). If you are attending a private auction, then follow the specific instructions for that auction. Often the private auction houses will even let you put your deposit on a credit card.
My recommendation is, before you try buying at an auction attend a few. See how things are done. Figure out if you have the ability to do the due diligence on your own or if you have to hire someone to help you out. Then, and only then, put your money on the line. Dare to Dream.
Shel-lee Davis, QSCÂ®
Certified Distressed Property Expert â€“ CDPEÂ®
Short Sale & Foreclosure Resource â€“ SFRÂ®
Certified HAFA Specialist â€“ CHSÂ®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty