Trustee Sale aka "BUYING AT THE COURTHOUSE STEPS"
Buying foreclosure at the courthouse steps means [and not limited to the following]:
1. All Cash - meaning money must be in cashier's check and available to the auctioneer at that moment
2. No warranty, no guarantee, no title insurance. The Rebo signing mess means could win the bid and the courts could take the house back from you.
3. You have no idea how much repair is needed since you would need to pay for inspection before going to the auction and there is restricted access to most foreclosures and you would be paying for an inspection not kowing you will win the auction.
4. Auctions at the court house steps get cancelled over and over again. How much time are you willing to waste while perfectly good houses are available in the regular market?
5. If you contract with an agent to represent you at an auction, you will be paying a commission.
6. Your competition at the courthouse steps are some of the shrewest real estate investors that you will ever meet. They have repair people ready to rehab any winning bids, and usually know how to flip property.
7. Must know before the sale--- hoa liens, tax liens, back property taxes, and IRS liens.
8. Unexperienced buyers do buy the second (while the experienced sharks watch them)
9. This is NOT someplace for newbie's to look for a real estate bargain.
If you want a referral [direct phone contact] of an experienced and reputable "Trustee Sale Specialist", please let me know.
Thanks and have a great day! :)
Julia St. Marie, Prof. Corp. RRG, ABR, RSPS
A Trusted Buyer Agent for Las Vegas Real Estate - If you need something specific, please let me know
Certified REO Specialist
Realty ONE Group
702-355-H-O-M-E (4663) direct
No Costs-No Obligation.....
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