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Updated about 5 years ago,
Courthouse auction issue
As a newer investor, lately I've been wanting to go and observe how a auction (on courthouse steps) is handled and see if this is a tool I want to use for acquiring more properties.
A property i liked came to my attention on Tuesday that was scheduled for Auction on Wednesday at 4pm. So I did some research and due diligence on said property, went to bank and got enough in certified checks to cover 10% down payment just in case I decided to bid up to a predetermined amount.
So.. I got to the location about 15 minutes early. Noone was there yet so I went inside for a bIt and talked to the lady at the front desk. Told her why I was there and that it was my first time at an auction. She gave me some basic info but said to wait outside they will meet on the steps. I waited till roughly 4:10 and noone showed up. Went back inside to talk to her and she said it's possible it could have been rescheduled or they could have even tried to save it from auction at last minute w bankruptcy. I thought ok that's possible.
Fast forward to today and the online auction website says "the auction was completed and sale is pending"
How could the auction have been completed if noone was there from 15 minutes before untill 10 mins after?
Could I be missing something? Is this a normal occurence at auctions?