real estate auctions

Does anyone have experience pursuing property auctions? I am pursuing several, but they usually get cancelled or the minimum bid being made by the beneficiary never shows up on the website. Any information regarding this type of property aquisition will be greatly appreciated. :slight_smile:

What kind of auction?
Is it sheriff auction?

Most are trustee sales due to the owner defaulting on the property resulting in the home being sold at the county courthouse to the highest bidder. I have been told this is the best way to get property well below market value. Anyone concur???

Yeah, that’s sheriff auction. you can get some great deals but it’s risky.
Make sure you do titke search.
best way is to catch it before the auction & dependes on the state you are in, even if you are the highest bidder & pay that 20% if the home owner files bankrubtcy your money could get tied up for a while.
So whatch out

Delect. what did you mean by “pay that extra 20%”??

What sort of items would be a red-flag to find out about when doing a title search?

If you win, in most counties you must pay 20% of the selling price in cash or cashier check.

Tax liens, county, state, irs…