Courthouse Step Auction Questions

[TJ Nowitzki]

Hi,

I am looking into California courthouse step foreclosures and had a few questions:

1. If you are the winning bidder at the courthouse is it true that bank cannot decline the winning bid? They just credit bid up to the amount owed plus legal fees or bid as any other auction participant would if they want to buy the property in excess of the amount they are owed?

2. If you determine the home is not occupied after a successful bid at auction do you typically change the locks and secure the property prior to the deed recording? (I have read some do this the day they win the bid)

3. Can you take out a vacant property insurance policy the day you successfully bid? (Do you need to wait until it records?)

Also want to mention I am aware there are many other variables.

Thanks