Buying a Foreclosure at the Gwinnett County Courthouse Auction

[Sharday Moser]

Hello everyone! I recently purchased a foreclosure at the Gwinnett County Auction. The homes are auctioned off by Auction.com on the first Tuesday of every month. I did a lot of research prior to moving forward with purchasing a home at the auction, but there was still some information that I was not aware of after I purchased the home. I posted a video detailing the process before and after purchasing the home. We purchased this foreclosure in December 2019.  Here is the link for the video describing the process.  Buying a Foreclosure at the Gwinnett County Courthouse Auction.  Hopefully this video can help someone else that is interested in buying a house through the courthouse auction.  The auction I attended was for Gwinnett County in Georgia, which includes Auburn, Lawrenceville, Berkeley Lake, Buford, Dacula, Duluth, Grayson, Lilburn, Loganville, Norcross, Peachtree Corners, Snellville, Sugar Hill, and Suwanee. I'm also a REALTOR in Atlanta. Let me know if you need any assistance.

[Eric James]

Originally posted by @Sharday Moser:

The final bid price varied depending on the property. At the auctions I attended the winning bid amounts varied from $80K-500K.  With multiple bidders bidding on the houses that were $400K+.  If I had to estimate I would say the winning bids we're maybe about 10% less than the market value of the homes, but that's just an estimate.  It really depends on the type of property, location, and condition of the house.

 That 10% below market value is what I've commonly seen the last couple years. Not worthwhile.