Risks of purchasing at a Foreclosure Auction?

[Jade Graue]

Good Morning Fellow Investors,

So....I've flipped a several properties in the last year in a half and most of which have been REOs and a few estate sales. I live in the outskirts of the DC area and there are no shortage of investors and high demand for affordable properties. With the REO inventories being so low and competition so stiff, I would like to acquire more properties through foreclosure auctions (online or live). I guess I have been hesitant to proceed with this method of purchase due the horror stories I've heard about all these liens and debt you can end up purchasing. Would it be sufficient due diligence to run and title report prior to purchase or are there other things I should be doing before submitting a bid?

Any advice on this topic would be most appreciated.

Jade 

[Jay Hinrichs]

@Mark Gustafson  Ok thanks.. I had one guy write me a private message and accuse me of not having any life at all and I must be forsaking my family over BP etc.

its was quite comical really.. I explained to him I type fast and it does not take me any time to think about answers.. after 40 years of slogging this stuff most if not all of my answers are just straight off the top of my head..

This guy went on to tell me about all the family outings he did including sky diving.. well my retort was I don't sky dive I own airplanes and fly them myself  LOL...