He's the former owner and we purchased it at auction.

For my next deal I am looking at foreclosure auctions as well, now the I am more comfortable with the process, but this one came from the MLS. 

The property was being sold through an auction and we were able to add an incredible amount of value just by cleaning it up and splashing a little paint around.

The property was being sold through an auction and we were able to add an incredible amount of value just by cleaning it up and splashing a little paint around.

Can you bid on auction with only pre-approval?

I've bought homes without title insurance from the Trustee auction which requires me to do some due diligence and buy a $5 O&E report from the title company.

In Q1, we were trending around 900-1000 foreclosure notices a month.Currently we're about a third of that around 300-400 each month.The auction sales may have been cancelled but the distress is still real and out there.

Have a few auctions that will need to take place and looking for advice or guidance in the process.

That would help the retail market from taking as much of a dive, but the foreclosure auctions will still likely have more deals than cash bidders, driving down the prices.The low interest rates are tempting many to refinance but if the market drops from a flood of inventory, you could end up owing more than the property is worth, for the time being, since the high prices are sort of artificial from the low interest rates.

@Clint McGraw Once the sale is approved by the court, the deed is created by the auctioneer (judicial sales or intercounty) and unless its picked up, is mailed to the winning bidder.