Tips For Buying a Foreclosure at an Auction
Foreclosure auctions are open to the general public, and the highest bidder on a property must pay for that property in cash at the auction. They are then given a deed that must be recorded with the county recorder's office. Each state conducts its foreclosure sales slightly differently.
In some states foreclosures are conducted by the Sheriff at the county courthouse, while in others sales are conducted by private trustee sales or auction companies at the property. Some foreclosure properties can be purchased at online auctions, too. You should always check the foreclosure laws of the state in which you are buying property. Checking the local newspaper is a good way to find out about public foreclosure auctions, but notices will also be posted at the county courthouse. You can also find information on upcoming auctions from many sources online.