You will exit the loan at auction and either get paid or get the property.

Started going to the foreclosure auction in 2007.

It's a marketing strategy, it's like when you go to an auction and the item's bidding starts at $1 but the value is $500.

after a few months of searching online for information re real estate, I found myself being led to this site time and time again, so I decided to make it official and make myself a member.kinda stumbled into RE purchasing 2 condos at auction, and one of them came with a storage unit.

This is a heavy-handed option, but it exists.I see two plays for this deal:1 - Sell off each unit as condos asap (buy out the tenants)2 - Hold for 4-7 years for CF and sell as condos or deconvert the building to save on taxes.Estimating 40% in expenses, and a cap rate of 7%, I calculate a current value of just over $2M.What would you Bid on this blind auction, how did you come to that number?

Hey Brian .. thanks for the reply.The list only has addresses and auction dates.I probably can start with a direct mail campaign and see what comes out of it.I am actually an agent, so i don't think wholesaling is an option.

Hi everybody,I am a newbie and I am wondering what sources I can use to find out where to buy houses at auction?

Do have a data source that can inform you of an auction date?

There are furniture auctions , people that but estates , and second hand stores that buy .

Typically the bank will only pay a small amount, since under the Safe Harbor laws, they would only have to pay 1% of the original mtg (or 1 year fees, whichever is less) and the HOA must accept it as payment in full, if they get it back at the mtg foreclosure auction.