Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago,

User Stats

119
Posts
34
Votes
Marc S.
  • New to Real Estate
  • New York
34
Votes |
119
Posts

Attempting our first Auction property

Marc S.
  • New to Real Estate
  • New York
Posted

Afternoon BP Community.  

My wife and I are going to venture into our first RE property purchase. The house we found will be auctioned off on an online auction due to a foreclosure.  The history of the previous owner is very "clean" and was not a forced eviction and was an elderly owner who passed away.  The auction site is allowing a walk through of the property (very rare from what I understand).  We have our contractor meeting us to get a first look and get a good estimate to do a fix and flip.  My question is, should we also have an inspector meet us at the property as well?

Also, if we win the house, we have 30 days to do our DD and close on the property.  Am I mistaken in thinking that if we don't get an inspector to do a walk through with us then, we will do it if we win and if something is found we are allowed to back out? The auction site webpage says there is a deposit required to be allowed to bid, but does not say a "non refundable" deposit.  

Thanks BP. 

Loading replies...