Buying foreclosures at auctions

[Alexis Monroe]

Hi!

So, I’m really interested in bidding at foreclosure auctions now that I’ve been able to gain some capital with tax deed sales.

I had a few questions for those who’ve bid at these auctions before.

1) Is the winning bidder required to pay the entire loan off to the plaintiff?

For example, I’ve seen the winning bid only $25,000 but the loan amount was $155,000. Would the winning bidder be responsible for the difference of winning bid and the loan amount? 

2) what is the best way to complete a title search without paying for a search for each property you’re interested in bidding on? Should you search owners name in county records or just go ahead and buy title searches for each interested property

3) does the Assessed value at all give indication as to what the property is worth? Or, an indication that there will be low bids? If not, what’s the best indicator that the bids will Be lower.

Answers, thoughts or comments to any 1 or all questions are much welcomed and appreciated!