Posted by Jim V on July 15, 1999 at 20:24:20:
Buying at auction is an “as is, where is” proposition. I wouldn’t recommend it for the beginning investor. Too much can go wrong.
Good Luck,
Jim V
buying at auction - Posted by jerry
Posted by jerry on July 15, 1999 at 16:07:59:
Im new to realestate investing and I found what i belive to be a great house in a middle class neighborhood. Ive researched the property as much as I know how. I went to the tax collectors office in the town where the house is and found there is $5,461.89 owed in tax leins, water bill lein, sewer lein . and sewer interest. the house is valued at $122.800. Is there any thing I missed or is there more things I should look into before trying to purchase the house at auction. Being new to investing I dont want to start my venture into realestate on the wrong foot.some sound advice would be greatly appericated.
Re: buying at auction - Posted by Dick Schmidt
Posted by Dick Schmidt on July 16, 1999 at 24:43:42:
Bet you that somewhere out there is a mortgage holder or two. They will show up at the auction to protect their interests, so don’t expect to buy for $5,000.
Dick