http://www.bigticketdepotshop.com/regardless-of-who-hold-auctions-is-the-winning-bid-real-the-total-cost-of-buying-a-house-from-the-auction New Alternative to Online Auction and Listing Sites Tue, 02 Mar 2010 22:36:54 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.bigticketdepotshop.com/regardless-of-who-hold-auctions-is-the-winning-bid-real-the-total-cost-of-buying-a-house-from-the-auction/comment-page-1#comment-34 tmorrow65 Sat, 30 May 2009 16:04:34 +0000 http://www.bigticketdepotshop.com/regardless-of-who-hold-auctions-is-the-winning-bid-real-the-total-cost-of-buying-a-house-from-the-auction#comment-34 It's very difficult to actually get a house at auction at extremely low prices like that. I've been to quite a few and actually won the bid on a couple of them. BUT... where I'm at, there is a 10 day upset bid timeframe where anyone can outbid you still but they have to up it by 3%. Or the owner still has that time to pay the lender back. That's in the normal case of foreclosure. The sheriff auction thing does not state that there are no other leins or mortgages on the property. I talked to the sheriff about this before and they just won't say. You have to do your own title search before bidding on this. So the winning bid can be the total cost of the property if you make it past the hurdles. And it's hard to find any good info online that they're not charging you for. Or they're making it look soooo easy, but it's not. That's just to sell you. It's very difficult to actually get a house at auction at extremely low prices like that. I've been to quite a few and actually won the bid on a couple of them. BUT… where I'm at, there is a 10 day upset bid timeframe where anyone can outbid you still but they have to up it by 3%. Or the owner still has that time to pay the lender back. That's in the normal case of foreclosure. The sheriff auction thing does not state that there are no other leins or mortgages on the property. I talked to the sheriff about this before and they just won't say. You have to do your own title search before bidding on this. So the winning bid can be the total cost of the property if you make it past the hurdles. And it's hard to find any good info online that they're not charging you for. Or they're making it look soooo easy, but it's not. That's just to sell you.

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