Looking for guidance for online auctions florida

[Martha Daisley]

I am looking for an experienced investor in Florida online auctions who wouldnt mind walking me through the online auction process. Though ive bought two short sale properties in the past, I dont have any experience with online auctions at all. Ive been reading posts on here about making sure to do title searches and knowing the lien position. I dont know how to go about doing these searches. There is a property im very interested in and online auction starts tuesday. I would like to know how to figure out the lean position and if there are any other leans. The bid starts at $100 but it says theres a judgement for 200k. Does that mean whoever is forclosing wont take less than 200k on a bid? Another thing is that i spoke to a hard money lender and they said they will not fund the loan without an appraisal and inspection. Is that typical? Not sure how that would happen before tuesdays auction.  If anyone can help walk me through this, it would be greatl

Martha

[Wayne Brooks]

You won't get any kind of financing for the foreclosure auctions, simply not enough time. And, the auction doesn't "start" on Tuesday, it Happens on Tuesday, and usually is open for bidding for about an hour, or less. If you know how to use the public records online search functions, you can do your own search, but it's not advised for beginners. You should order a title search from one of the companies online. The final judgment amount from the foreclosing lender means littl, they will either pick a lower number closer to market value as their "maximum bid" (reserve price) or they will use the judgment amounts, or way to know until the auction occurs. Beware of outstanding property taxes and any potential HOA debts as they stay with the property, whether recorded as liens or not.