Gone are the days when a property was offered up for  no more than the amount of taxes owed, now days it has become a bidding process and as in any auction enviroment people tend to get emotional about their bidding and become quite impractical, and irrational buyers

At the beginning, I door knocked every potential property that I was going to bid on so that I could talk my way inside and take a look to gauge the interior condition.

Current bid is $150,000, MLS listing is at $249,000.  

Just get a few bids from different contractors.

@Julia Vang Hart Make you to get several bid proposals and consider elements such as: inspections, how late fees are split, vendor mark-ups, and lease renewals.If you need help, please let me know.

My deal is the following: I have a 2334sqft home in Tower Grove Neighborhood, purchase price of $70k, with $180,250 bid for rehab on it.

Is the bank bid Normally for the full value of the loan (181k) or is it closer to what they have spent on the reverse mortgage?

For online auctions, I was told that If  I  won the online bid, I do not have to be the person who is on the purchase agreement.

I got a solid bid, used it to get the house for cheap and then fixed everything after purchase.

If your area is anything like my area, there are maybe eight guys who make serious money at the county auction and everyone else who bids is really just paying to learn that it takes a lot of work and brains.