Newbie (or Newby) Foreclosure Questions

[Jacob Glawson]

Hello BP Team!

So, I'm a newb and I am probably like a lot of folks - scared to make my first deal.  I have been looking at online auctions and would like some help.  I have googled and searched through the BP forums before posting this so I apologize in advance if this information has been provided hundreds of times in other threads.  A few questions for you guys and gals:

1) Is there way to run a title search and check for liens online?  I don't want to pay someone to do this if I don't have to.  Especially if I may not even go after the property.

2) Can you give me your general thoughts on purchasing via online auctions?

3) If you see a property going to auction with a nominal opening bid for say $100k.  If they are accepting pre-auction bids, would they ever accept less?  For example, would it even make sense to make a pre-auction bid of $90k?

4) Given that you are buying the property as is and do not have a chance to see what kind of condition the property is in on the inside, how much to you pad your purchase price to account for that kind of thing?

5) Any additional thoughts/advice is greatly appreciated.

My apologies for the long post and number of questions.