Sacramento Auctions

[Michael Francis]

Hey all,

I am in the Sacramento area and looking to find some good deals for fix and flips. I was considering checking out a Sacramento county auction and I was wondering if anyone had experience with this. I registered for the auction, but as I have no intention of buying something on the first go around, I was wondering if it was okay to just go and watch, or if a proof of funds was necessary to get in the door.

Aside from that, if anyone has any advice or suggestions with regards to auctions, I'd be happy to hear them, it is not a venue I've previously explored.

Thanks for the help!

[Account Closed]

90% of the properties I have purchased to flip, have come from the Sacramento County Trustee Auctions held on the courthouse steps, open to anyone, bidding or not. Every weekday, except holidays, starting at 9 and run thru 2pm (different trustees, start at different times). Trustee sales are always open, to everyone. The trustee sales held at the hotels, tend to be over attended, both by observers and bidders - my experiences at these are the selling prices are much higher and tend not to work for my numbers.

Always to your homework prior to attending. I personally don't like to buy properties thru trustee sale that are occupied. I drive by multiple times, talk to neighbors, research the property online, check past MLS listings, anything you can think of to find out info about the property. Properties typically are postponed multiple times prior to finally being auctioned. And usually it is the last minute when you find out if the opening bid will be a number that will work for you.

 I have relationships with Title Companies that are willing to provide Title info, etc. and more importantly, last minute. The Title Companies know, that I also will be providing escrows for them in the future- when I sell properties, they are my Title Company. I don't abuse them, I only ask for info on those properties that I have already done my own research on and that I am ready to buy.

I have only bought first positions. If you buy seconds or thirds you would have to payoff the priors. 

There are also other possible encumbrances that you may be responsible to pay off including past due taxes, past due utilities, other encumbrances including lawsuit liens, child support liens etc.

Know your number - the maximum you can pay- AND  never, never get caught up in the bidding, stick to your number.

Happy bidding!