What to do after you win courthouse auction (trustee sale)?

[Josh Braun]

A few quick questions on buying foreclosures at courthouse steps (trustee sale):

1) When you bring cashiers checks with you to bid, who do you make the cashier checks out to? Suggestion on check increments for properties in the 100k to 150k ARV range?

2) After successfully bidding on and winning a property, what do you do next in order to get the deed in your name? Do you just take the paper from the trustee and take it to your title company to do an official closing?

I've read all of the posts from Steve's list, but haven't found anything explaining these details.

[Account Closed]

If you get checks in powers of two you will hit the final bid within 1k no matter what it is.  This minimizes the amount you have to over pay.  This is somewhat important because they don't give you your change back right away.  Example, if you get checks in the following denominations you can cover any bid up to 127k:

1k, 2k, 4k, 8k, 16k, 32k, 64k

Try it, pick any number between 1k and 127k and with this denomination you hit it within 1k.