Right now the market seems saturated with investors to the point where a property comes on the market and is bought so quickly for cash that it seems people are over bidding on properties paying too much just to get the deal and by the time they rehab they actually lose money on the flip.Right now it is a seller's market so prices are high.

I think our big run has occurred and we are in for stable pricing for a while now.. although I get reports from our title companies and its still a strong sellers market.. but I am not seeing over bids like we got last year.. and on my new construction were we sold last year in one developemtn 18 homes in 6 weeks we are at 2 a month right now.. which is just fine.. we sell out in 12 months.. but our prices are 75k per home higher than they were last year.. and our cost are up 20k so net gain of about 50k in bottom line profit on this particular subdivision..

Typically the foreclosing lender will be the amount of the outstanding balance, but they could bid more...for all kinds of different reasons.Go to the sale...see the trustees....talk to them...watch others bid....see what the amounts are...Remember typically there will be no financing......typically you will need cashiers checks on you or go get one nearby by a certain time.  

Hire licensed contractors , throw out the low bid .

It looks like 3 of them are probably state tax liens (GDOR) and the county has a small lien.I am intersted in bidding on this property, but am trying to understand what I would be responsible for. 

@Karim Zada like many have stated, NOVA is hard to cash flow, a few of the strategies I use in the DC/NOVA area are:1) My favorite because it allows me to purchase before the investor pool of buyers bid up the property.

I go there first to see if there is enough equity in the property to make it worth bidding on.

They will auction it off but you must qualify with them to bid in any of their auctions. 

With added budget, I could now bid on better Apartments and Office Buildings as well.

Rachel Imhof Wow, so thorough and so great post, I could not agree more with #4, we have government contracts and when you say “we remodel government buildings” the usual reaction will say “oh that’s good money right there”, it is not, we spend efforts and spending a ton of time and money before and after a contract, chasing them and failed bids, then government tells you how much to pay workers, then there’s always that oops factor.