Auctions are fearsum realms by which you can buy
some really nice homes and acquire real estate rapidly.
Auctions have one goal no matter what type of
home auction you are seeking or attending. The title
holders want the property out of their own mismanage
and "in" the hands of someone who can afford it and
manage the upkeep suitably.
Home buying at auction is not as easy as anyone
would believe. I will give you some money tips and
buying tips extensively in my ebook. You will gain
a 'taste' for dabbling in forclosures, or not, by
reading of some information I am going to give you now.
Auctions are generally held at the major local title
factory. This type of title company will have the longest
history of your States land with complete ownership and
reconveyance history and their legal descriptions.
In Boise Idaho, the factory of title records is
Pioneer Title. Pioneer Title holds forclosure auctions
about 3-times per month. Many county court houses also
auction bank owned properties on their court house steps.
You cannot obtain a copy of what's forclosing when and
where from any one source (usually). No sources publish
the full gamet of necessary content to form important
buying decisions. Therefore, your best source is
your own schedule of properties going up for auction that
local newspaper sources announce. I recommend building
yourself a spreadsheet of what's going up for auction and
what time the auction will begin and where it's to be held.
Then with that property list spreadsheet go through it
weekly to do a continuous property be property update.
Your updating research is a critical time saver.
You are monotoring the specific "red hot" properties you
favor by adding them to your spreadsheet then you watch
each property's status as to whether the properties stay in
the game or fallout. Property can be scheduled for auction
one minute and not to be auctioned the next. Many properties
scheduled for auction will get rescheduled to the next
available auction date and time, for various reasons.
Unfortunately no one gives you a heads-up about the reschedule
you have to look for the status changes often, again weekly
status checks are sufficient, and definitely the day before
auction it's imparative.
The fluid forclosue market will change constantly,
thus monitoring it will save you a lot of headache on the
day of the auction. You will need your upmost attention
on only those properties really ready to be auctioned. I
will tell you why.
Why streamline the list of properties? Because an
hour before auction time you will be very busy gathering
the latest status of your narrowed down property list.
You will look at the most current status and if
your are very very fortunate the current owner of the
property of interest will post an opening bid for the
home. This is only acquired just before the auction is
scheduled to kick off. Thus, you only have time to
ascertain data on select homes. Your streamlining the
list prior to kick off will concentrate your efforts
only on viable status property, i.e. those actually
still going to auction, per the laws of your individual
state.
Here is how to do your status research. This is
the process of finding out who the trustee or attorney
handling the forclosure is. Then find their website
or phone contact number and calling them in reference
to the TS#. That is T S Number. A number they will
ask you for in order to tell you the status on a property
of interest.
On your spreadsheet, you will want a column just
for this TS# to be recorded on for future reference. On
websites trustees sometimes post by TS# the current
status on properties which will be broken down by county.
They can post many revealing features about the money matters
of the particular piece of property.
At Some point in time during your research it is
a good idea to view the homes and a couple good arial views
can usually be found online as well as maps to the property.
Its always nice to see the neighbor layout and quality of
the neighboring homes, if any.
Other data to be addressed, for example, is what the
home "was" purchased for by looking the original principal
balance of note was when last financed. For instance you
find that the note in forclosure was finance at 2.5 million
By looking at the arial cam shots you can see that
approximately this is a 6-acre adobe stucco 6 bedroom 4 bath mini-
mansion with a pool and has no close neighboring properties
or access blocks or waterways going through it or border it.
Viewing the arial shots tells you which direction
the house faces and whether a pool is on the premises.
On looking the
mountain laid crests wrapping a desert bowl several colors
scape this homes view, you can see all this by way of
arial satellite cam pretty much. You can see quite a
bit of the property nuances from cam shots if you don't
wish to drive the property. Pools. Swimming pools create
a lot of problems when banks take back property. So do
vast dry unwatered grass lands created from neglected
and abandoned homes that have left unattended for many
months. Banks are not in the business (normally) of
landscape maintenance and swimming pool upkeep.
Homeowners insurance has obviously lapsed and the bank
must out of pocket larger sums on enormous estates, as
you can imagine. Thus, homes in this category become
important for banks and lending institutions to rid
themselves of quickly as possible and to do so will
require a lowering of the "opening bid" at auction.
Do you smell opportunity here, or what? Huge
homes for dirt cheap, smell nice to you? Let me re-
iterate my point: auctions have one purpose or
goal and that is of changing hands of the property
ownership and being paid off or paid something for
the home which currently is a sinkhole for more
continuous capital loss should they sit on home and
delay its resale at auction.
By not letting it at auction for less than what's
owed on it the banks and lending institutions face a
high risk of the property reverting back to them sub-
sequent to the auction. That is what happens if no
one bids on or bids high enough to meet an unrealisti-
cally set bid prices on forclosed homes. Once reverted
the chance to get the homes at rock bottom price has
been lost. Now, the bank in charge will get Realtors
involved and the price will get pumped up to estimated
current market value for the sake of the Realtor and
not you.
So, it is a one-time shot. The auction is it.
Knowing your status and opening-bid amount and principal
financed currently is extremely important to wining
the bid battle. Significantly few people, even the
pro's do not know this secret to buying forclosures to
their upmost lowest price, which is,,,"opening bid!"
Important, as well, is being fast on the draw
at the auction. That is why I suggest memorizing the
address of each "hot property" going at this auction.
Most auctioneers cry out the addresses on after the
other. That leaves little time to annouce your offer
the bid you want to place on that home. So be quick
to identify that the address announced is a property
you plan to bid on and quickly do so. Often I have
seen the quick draw bidder take the property because
of the sheer speed to which the auctioneer moves on
to the next.
rather than being a goal of "loan-er-ship" as is when
buying homes in the tradional means.
Do not fevorishly mumble and look around while you're busy
trying win highest bid. Know your planned bid amounts
prior to the auctioneer makes it to the start line period.
By reading the ebook that I wrote for you can see
where I can a real breakdown the research components in
specific detail. This is the way to "own" the protocal
and become truly a master real estate investor.
The real estate pro's 97% of them actually don't
know these pointers and loose thousands to over bidding.
Where are they? Still wondering
whether to read my site or buy my ebook, probably.
Certainly if real estate really is your forte
my ebook is a very small investment in terrific
information. The "insider information" approach is
truly an influence worth your time.
There are always the trench coated mid-life
chaps and web sites wanting to sell you the
way to get into the forclosure market. But now
you know the honest truth of the matter and it
is your spreadsheet development through good old
hard research of facts on a timely basis that will
do the trick for you (entirely) along with the
other relavent tips I have share here with you.
who know it all? Well, for sure, someone will
claim to. And I won't be the one to tell them they
are wrong because (these types) they 'are'
right 100% of the time anyway, they are. Just ask them!
For the rest of us - the other 3%, YES, only 3% of us
forclosure buying public, know how to bid forclosures at
auction. Congratulations on reaching that rare prestigious
3% of top real estate investors.
on sceen "actually in the know" fully aware of what
we are doing.
some really nice homes and acquire real estate rapidly.
Auctions have one goal no matter what type of
home auction you are seeking or attending. The title
holders want the property out of their own mismanage
and "in" the hands of someone who can afford it and
manage the upkeep suitably.
Home buying at auction is not as easy as anyone
would believe. I will give you some money tips and
buying tips extensively in my ebook. You will gain
a 'taste' for dabbling in forclosures, or not, by
reading of some information I am going to give you now.
Auctions are generally held at the major local title
factory. This type of title company will have the longest
history of your States land with complete ownership and
reconveyance history and their legal descriptions.
In Boise Idaho, the factory of title records is
Pioneer Title. Pioneer Title holds forclosure auctions
about 3-times per month. Many county court houses also
auction bank owned properties on their court house steps.
You cannot obtain a copy of what's forclosing when and
where from any one source (usually). No sources publish
the full gamet of necessary content to form important
buying decisions. Therefore, your best source is
your own schedule of properties going up for auction that
local newspaper sources announce. I recommend building
yourself a spreadsheet of what's going up for auction and
what time the auction will begin and where it's to be held.
Then with that property list spreadsheet go through it
weekly to do a continuous property be property update.
Your updating research is a critical time saver.
You are monotoring the specific "red hot" properties you
favor by adding them to your spreadsheet then you watch
each property's status as to whether the properties stay in
the game or fallout. Property can be scheduled for auction
one minute and not to be auctioned the next. Many properties
scheduled for auction will get rescheduled to the next
available auction date and time, for various reasons.
Unfortunately no one gives you a heads-up about the reschedule
you have to look for the status changes often, again weekly
status checks are sufficient, and definitely the day before
auction it's imparative.
The fluid forclosue market will change constantly,
thus monitoring it will save you a lot of headache on the
day of the auction. You will need your upmost attention
on only those properties really ready to be auctioned. I
will tell you why.
Why streamline the list of properties? Because an
hour before auction time you will be very busy gathering
the latest status of your narrowed down property list.
You will look at the most current status and if
your are very very fortunate the current owner of the
property of interest will post an opening bid for the
home. This is only acquired just before the auction is
scheduled to kick off. Thus, you only have time to
ascertain data on select homes. Your streamlining the
list prior to kick off will concentrate your efforts
only on viable status property, i.e. those actually
still going to auction, per the laws of your individual
state.
Here is how to do your status research. This is
the process of finding out who the trustee or attorney
handling the forclosure is. Then find their website
or phone contact number and calling them in reference
to the TS#. That is T S Number. A number they will
ask you for in order to tell you the status on a property
of interest.
On your spreadsheet, you will want a column just
for this TS# to be recorded on for future reference. On
websites trustees sometimes post by TS# the current
status on properties which will be broken down by county.
They can post many revealing features about the money matters
of the particular piece of property.
At Some point in time during your research it is
a good idea to view the homes and a couple good arial views
can usually be found online as well as maps to the property.
Its always nice to see the neighbor layout and quality of
the neighboring homes, if any.
Other data to be addressed, for example, is what the
home "was" purchased for by looking the original principal
balance of note was when last financed. For instance you
find that the note in forclosure was finance at 2.5 million
By looking at the arial cam shots you can see that
approximately this is a 6-acre adobe stucco 6 bedroom 4 bath mini-
mansion with a pool and has no close neighboring properties
or access blocks or waterways going through it or border it.
Viewing the arial shots tells you which direction
the house faces and whether a pool is on the premises.
On looking the
mountain laid crests wrapping a desert bowl several colors
scape this homes view, you can see all this by way of
arial satellite cam pretty much. You can see quite a
bit of the property nuances from cam shots if you don't
wish to drive the property. Pools. Swimming pools create
a lot of problems when banks take back property. So do
vast dry unwatered grass lands created from neglected
and abandoned homes that have left unattended for many
months. Banks are not in the business (normally) of
landscape maintenance and swimming pool upkeep.
Homeowners insurance has obviously lapsed and the bank
must out of pocket larger sums on enormous estates, as
you can imagine. Thus, homes in this category become
important for banks and lending institutions to rid
themselves of quickly as possible and to do so will
require a lowering of the "opening bid" at auction.
Do you smell opportunity here, or what? Huge
homes for dirt cheap, smell nice to you? Let me re-
iterate my point: auctions have one purpose or
goal and that is of changing hands of the property
ownership and being paid off or paid something for
the home which currently is a sinkhole for more
continuous capital loss should they sit on home and
delay its resale at auction.
By not letting it at auction for less than what's
owed on it the banks and lending institutions face a
high risk of the property reverting back to them sub-
sequent to the auction. That is what happens if no
one bids on or bids high enough to meet an unrealisti-
cally set bid prices on forclosed homes. Once reverted
the chance to get the homes at rock bottom price has
been lost. Now, the bank in charge will get Realtors
involved and the price will get pumped up to estimated
current market value for the sake of the Realtor and
not you.
So, it is a one-time shot. The auction is it.
Knowing your status and opening-bid amount and principal
financed currently is extremely important to wining
the bid battle. Significantly few people, even the
pro's do not know this secret to buying forclosures to
their upmost lowest price, which is,,,"opening bid!"
Important, as well, is being fast on the draw
at the auction. That is why I suggest memorizing the
address of each "hot property" going at this auction.
Most auctioneers cry out the addresses on after the
other. That leaves little time to annouce your offer
the bid you want to place on that home. So be quick
to identify that the address announced is a property
you plan to bid on and quickly do so. Often I have
seen the quick draw bidder take the property because
of the sheer speed to which the auctioneer moves on
to the next.
rather than being a goal of "loan-er-ship" as is when
buying homes in the tradional means.
Do not fevorishly mumble and look around while you're busy
trying win highest bid. Know your planned bid amounts
prior to the auctioneer makes it to the start line period.
By reading the ebook that I wrote for you can see
where I can a real breakdown the research components in
specific detail. This is the way to "own" the protocal
and become truly a master real estate investor.
The real estate pro's 97% of them actually don't
know these pointers and loose thousands to over bidding.
Where are they? Still wondering
whether to read my site or buy my ebook, probably.
Certainly if real estate really is your forte
my ebook is a very small investment in terrific
information. The "insider information" approach is
truly an influence worth your time.
There are always the trench coated mid-life
chaps and web sites wanting to sell you the
way to get into the forclosure market. But now
you know the honest truth of the matter and it
is your spreadsheet development through good old
hard research of facts on a timely basis that will
do the trick for you (entirely) along with the
other relavent tips I have share here with you.
who know it all? Well, for sure, someone will
claim to. And I won't be the one to tell them they
are wrong because (these types) they 'are'
right 100% of the time anyway, they are. Just ask them!
For the rest of us - the other 3%, YES, only 3% of us
forclosure buying public, know how to bid forclosures at
auction. Congratulations on reaching that rare prestigious
3% of top real estate investors.
on sceen "actually in the know" fully aware of what
we are doing.
