[Dantilla]

I've attended a few auctions on the courthouse steps.
An Escrow/Title company can get the full title report that will show any liens. This is vital information before bidding.
There are those making great money flipping foreclosures, enough that others without experience jump in and get stung.


I'm not going to type out the entire process or explain all the ins and outs (maybe when I have more time).
While it's not rocket surgery, some basic knowledge is required.
Just because it was purchased at an auction doesn't guarantee it was a good deal.

One interesting thought I had: Here I am, in the lobby of the courthouse. Several auctions are taking place, all at once. In order to bid, one must present cashier's checks at least up to the minimum bid amount, as the property must be paid in full as soon as the auctioneer says "SOLD!"
If the minimum bid is $200,000, bidders will bring several checks- One for 200k, and a handful of 10k checks to cover what they are willing to pay. If the winning bid is 232k, the winning bidder hands over checks totaling 240, getting a refund of the difference at closing.

So here we are. I look around this large room, with so many people going to and fro.
Then it hit me-
Half the people in this room are carrying hundreds of thousands of dollars.
The other half of the people in this room are trying to scrape up $50 to make bail.