They can be excellent properties, so long as you don't have to rehab them.We have a historic theater here in town that is on the auction block arising from the rehab costs going way over what was expected.It really depends on the historic nature of a building, the restrictions imposed and your market.

Going to courthouse sales and auctions are free and give you real life RE experience, even if you don't plan to bid.

Most sellers trying to short sale are in foreclosure, and this would only put them 90-120 days closer to an auction date, with no time to do the short sale process with another buyer.....no thanks.

I read on CNN that the city will begin auctioning off houses from the over 16,000 tax default homes it has: with auction prices starting at $1,000.

In my town there's a vacant lot that the local auctioneer leases.

Any advice on auctions?

While possible the bank would delay the auction with a solid looking deal, it's highly unlikely this close to the auction.

Some have a auction date set and some have already passed the auction date.

I'm happy to say that after more years than I care to admit of watching from the sidelines and analysis paralysis, I have finally purchased my first duplex at auction!

I currently sell most of my wholesale deals via auctions.