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Updated over 6 years ago,
Foreclosure Auctions in MA - Please educate me!
Hello,
I'm interested in a few properties in Plymouth County, Massachusetts that are being sold at trustee/foreclosure auctions. I know in Mass, that they are auctioned off on the front steps of the property, and that often times these sales are postponed for various reasons. I also know that I need to come prepared and have already done my research on the property title, and do a drive-by to possibly estimate repair costs, etc.
Let's say I do my research and decide it's a "go" and I want to attend the auction and bid on it... What should I expect at an auction like this in Massachusetts? Do you often get to tour the inside of the property if it's not occupied? Is it guaranteed that I'd have to be a cash buyer, or could I get a loan to purchase the property? What kind of legal costs should I expect to evict if the people are still living there? What kind of expenses will I incur during the closing/foreclosure process?
It's pretty easy to understand how to find these auctions, and that I need to physically be at one, but other than that, I have no experience of what happens AFTER you're the high bidder, and I'm sure it's different with every property... I know these questions are rather open-ended, but whatever information you can offer would be greatly appreciated.
Thanks!