Real Estate Auctions

[Brian Downs]

This is probably a dumb question, but when I hear on the podcast about “buying foreclosures on the courthouse steps” are they being pretty literal? How does one go about finding out about those?

[Ron S.]

The best use of your time is to attend one of those courthouse steps auctions. You will learn so much about bidding, qualifying for bidding, the actual auction process, and so much more. I've been attending auctions for 25 years and they never get boring to me. Before the auction, grab one from the local paper that has the notice posted and follow it all the way through the auction. That way you will have lots of questions, and lots of answers provided but as others point out, do all of the research before you jump in the deep end of the pool for real.