New member from Knoxville, TN

[Jordan Pemberton]

Hello everyone, 

I'm an entrepreneur from Knoxville, TN currently hunting my first foreclosure/REO property. First, I'd like to thank the community for all of the great info- it's really helped me with direction. There are some incredible minds and undoubtedly successful portfolios here. I'm excited to learn and grow as an investor, and am looking forward to making some good connections!

I'm currently trying to do my due diligence on a foreclosure property I'm potentially interested in. I've spoken with the local Trustee/Register of Deeds and now have taxes, mortgages, and liens in the light. I've also seen the property, noted all concerns, and researched the comps. I have a healthy rehab/unforeseen issues allowance budgeted, and have set my max bid, but am hung up on the post-auction/closing routine. Having yet to attend an auction on the courthouse steps, I'm just not versed. I've read there are a plethora of obstacles I could face even if I'm the winning bidder, I'm just not exactly sure what those are or how they might occur. Could anyone elaborate? Especially in regard to owner-occupied circumstances. 

Glad to be here!