In partnership with

The Real Estate Professional’s Secret Weapon - Land id™

Discover extensive nationwide private parcel data, create & showcase powerful, shareable, interactive maps of any property: Fast, Easy and Mobile, with Land id™.

With the brand new streamlined Property Info Cards, Land id™ brings industry leading data and contextual layers to the forefront in a single tap or swipe.

Try Free For 7 Days Today

How To Buy at the Foreclosure Auction

Homes sold at the foreclosure auction have beginning bids that reflect what is still owed to the lender and are not connected to the current market value. This presents an opportunity to buy properties in good condition at deep discounts. Here are the key steps you need in order to participate. Be aware this is a high risk endeavor - you will not be able to see inside the property and you will be buying as-is, where-is with all faults and defects. 

1. Get local accurate information. For the most part the online aggregations are out of date. Exceptions include websites that aggregate live data pulled from the feeds of local newspapers and are updated weekly. 

2. Know your state’s procedures for sales. Each state has different rules and procedures.  

3. Research the property(ies). Drive by. Create repair estimates, learn the ARV. 

4. Check the title to be sure the foreclosing loan is in senior position. You don’t want to buy a junior loan. 

5. Set your maximum bid and exercise discipline when bidding. 

Remember - if it is really a deal, you won’t be the only person who knows about it. Prepare for bidding competition, have several potential target properties, and leave your emotions at home. 

^Sponsored