Posts Tagged 'sheriff sales'

6 Things To Do Before Participating in Foreclosure Auctions

Posted on: January 11, 2011

Categories: Buy, Investors

Author: lbuen

6 Things To Do Before Participating in Foreclosure Auctions

Foreclosure auctions are a treasure trove of lucrative deals to real estate investors for they are rich sources of handyman specials. However, before embarking on this treasure hunt of bargains, doing one’s homework is essential to come prepared, ensure that you make a killing and avoid walking into a trap of losses.

The first thing you have to do is secure a “bidder’s package” which contains useful information including the particulars on the auctioned properties such as property description, a report on the title, survey and financial data.
Decide on which property or properties you are going to bid on in advance and get to know it. Drive by the selected property to give you a picture of its condition so that you can estimate the needed repairs. Hiring professionals for assessing the property and estimating repair costs

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