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real estate online auction?
I'm interested in buying my first home. It is part of an online auction. I'm not familiar with the whole process but it's kind of like ebay but for homes. My concern is what I will be getting myself into bc I don't actually have an agent that's working for me. I'm doing it all by myself. There is an inspection date coming up and the house appears to be in good condition. How do I know if the previous owner owed back taxes on the house? And what else should I look for before committing to winning the property?
Public Comments
- have an agent go with you is your best bet even if you have to pay them. Make them produce a recent title search or have one done on your own by a title agent. If you win this bid then get a title policy at close for the owner
- hire, even now, a buyer's agent. this is a huge event. DO NOT
let your agent rep the seller.
I can advise you but do not do this on your own.
- I bid at the Hudson and Marshall auction online. It was the shortest form i've ever seen. No signature needed. You get to look at the house on one of 2 Open House days. After that you may have 5 days to inspect or it may be "as is". Adjust your bid to reflect any worries you have about repairs.
When you close the sale, the seller pays off the back taxes (if there are any). Just bid low enuf so that you will smile if you are chosen as the high bidder..
- Guys,
If your looking for great real estate deals, check out this site: www.Leadtackle.com, its free. I use it and do great with it. It lets you register your investment criteria, which gives you exposure to thousands of real estate agents who will be able to see what your looking to buy, then they send you deals! Its great! GOOD LUCK!
