OfflineDG Family,
A few weeks ago I found out on short notice about an auction that was taking place not far from where I live. I went to the auction, it was a double-wide approx. 1900-2000 sq. ft. on 1 acre. Didn't register to bid since I didn't have the minimum down pymt amt. Only 3 people were bidding. When the auction was over, I thought I was going to be sick. The property sold for $15,000. It needed some repairs but nothing utterly expensive. The other downside was that I had mentioned to my husband the night before that I was going to check out the auction but he didn't realize I was giving him a hint to help me with the property on his credit card. Next time, I will simply ask. That makes 2 opportunities right under my nose that I missed out on! I've got to be more savvy than that.
Take Care,
Toni
Sounds like you have learned a lot about the auction process in your area. That's a great tip for anyone looking to buy homes at auction. Before you even intend to buy, show up at the auction and ask question. Learn about the process so you can come in later and and be fully prepared to purchase. Also make sure you complete your due diligence on each property you intend to bid on.
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I know back in Illinois and Indiana out in the country auctions are a great place to pick up a good house for a low price. So many family farms are sold that way. Like Jeff said you have to make sure you complete your due diligence on each property you intend to bid on.
Keep your eyes and ears open for on site home auctions.
Steve
Steve and Veronica
Steve and Veronica's Journal.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58073/...
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