How Do You Buy A House At A Foreclosure Auction?
A lesser known secret about the real estate market is the foreclosure auction. Every Friday at almost every courthouse in the country, hundreds of houses that have been foreclosed upon are for sale at public auction for a fraction of their original cost. Typically the auctions are held outside on the county courthouse steps or just inside the main entrance. There are no signs, buzzers, bells or whistles. All who gather there clandestinely emerge out of the woodwork as the hour strikes 10 a.m. The auction takes place rain or shine. All interested buyers must verify their funds before they can bid. The faces of the buyers range from vulturous investment groups who make themselves known, to independent real-estate agents, couples, students and stay at home moms all hoping to turn a profit. At the end of every weekly auction, hundreds of homes have been sold for a fraction of their real market value and many people really do find buried treasure by doubling or tripling their profits. Step
