New guy questions about Auctions

[Austin L.]

Hello everybody, I am new to real estate investing and looking to buy foreclosed property in the SW Washington area. I have never been to an Auction and don't really know how the process works or what to look for. I don't even know if I have the cash funds to be able to compete on that level (107k in bank). The starting bid says 60k and 76k total debt. Do these lower starting bid properties normally go way above starting bid? If the property is purchased would I have to pay the unpaid property taxes separately or are the taxes taken from the purchase price? Also the website says no trespassing on property, so I'm assuming I can't take a peak inside before purchasing. What kind of do diligence should I do before attending one of these Auctions?

[Kevin Romines]

I would recommend that you call a local title company and get a lien search or a title report. If you have to cancel the title request, it typically cost's you $53.00 (regulated by the state). Some title companies conveniently forget to charge you?

As far as the auction goes, it depends if it on one of the auction sites like Auction.com or if its just being handled by the trustee? Each site or company has their own rules, so you will want to reach out to them with any questions you have on the opening bids, if you get clear title and what kind of deed you will get?

Happy hunting, don't give up, there are many deals out there if you look long and hard enough!!!