Considering buying my first deal on the courthouse steps

[Pat Jackson]

I apologize if this should have started in the general discussion.

I live in Reno, NV but grew up in Missouri.  A house in a nearby town to my hometown is about to be auctioned off on the courthouse steps (literally).  

I'm interested in this property and have a few questions.

1.  From my initial conversation with a real estate agent in this small town, the house can be shown.  At a minimum I'll have my dad who lives nearby do a walk through.  Ideally I'd also have an inspection to know exactly what I'm getting into.  However the auction in 7/25, I don't think requesting an inspection and getting the report is a realistic scenario.  Is it?

2.  Being an auction property, I'll have a title search done for any outstanding liens.  I haven't made up my mind on which service to use, but is it a realistic scenario to get this report back in a week?  I believe it is. Does anyone have any recommendations on which title search company to use?

3.  I've never done this.  From what I've read, a cashiers check is required at the end of the auction.  I can have the funds all in one account in a week (the maximum amount I'm willing to bid based on what I find out about the property and the amount of risk I'm willing to take).  Can cashiers checks be filled out on the spot?  With an auction, obviously I won't know the exact price until it's over.  How have actual courthouse auction payments worked for others?  I intend to call the courthouse tomorrow, but wanted to double check here.

4.  My dad will be the one doing the bidding.  Should I have him do the bidding as my proxy, or have the funds in his name, get the house in his name, and transfer ownership to me at a later date?

I intend to wholesale or flip this house in a fairly short period of time if that matters.  Thanks a ton!

[Bruce Runn]

Make sure you are aware of the states redemption period.  In my state, it's generally about 6 months where the owner or lien holder can redeem.  Make sure you understand all the pieces that go with buying a foreclosure as there are lots of people that know the ins and outs of this and I'd hate to see you have your money tied up.