What do I need to bring to the auction?
A government-issued photo identification card and a bank check for the required deposit made payable to the person attending and bidding. The required deposit can be found in the terms of sale in the foreclosure legal notice.
How do I obtain information about the property prior to the auction?
A well-informed bidder is the best bidder! Your decision whether to bid on a property should be guided by your own due diligence and opinions.
Our website posts legal notices for each property along with any available descriptive information (descriptions are for informational purposes only, as we cannot guarantee accuracy). We recommend a title search, ideally with the help of a professional. Town/city assessor databases are also great resources for reviewing property records, assessed values, and outstanding municipal liens.
Can I get inside the property?
No. We have no legal access to the inside or outside of the property prior to the auction, at the auction, or after the auction. If a property is occupied, trespassing is a serious offense.
How do I know if a scheduled auction is going to take place?
Auction information changes daily! Visiting our website and signing up for text/email notifications is the best way to stay updated. Just view the individual property listing(s) on our site and select “Notify Me,” and we will let you know right away if anything changes. You can also call our office during normal business hours for status updates.
Can I buy the property before the auction?
No. The auctioneer does not sell properties prior to the scheduled auction.
Can I view the inside of the property on the day of the auction? Can I walk around the outside?
No. We do not have legal access to the inside or outside of the property. Properties are sold in “as is,” “where is” condition. If the property is occupied, it is private property. It is up to the potential bidder to evaluate the property by doing their due diligence prior to the auction.
How do I register to bid at an auction?
Arrive at the auction site at least 15-to-20 minutes early. Bring photo ID and the required deposit amount in the form of a bank check made payable to yourself (personal checks are not accepted). Be prepared to give the auctioneer your contact information. If you arrive early, the auctioneer can answer any questions pertaining to the auction process.
Is there an opening bid at the auction?
The bank/mortgage company reserves the right to protect their interest in the property and bid at the auction. Therefore, the bank agent will make the opening bid in most cases. The auctioneer will continue to take bids at the auction until bidding stops and the auctioneer sells the property.
On the day of the auction, will the potential buyer be made aware of any liens?
Not necessarily. All bidders are strongly encouraged to perform their own research on outstanding liens prior to bidding. It is best to understand your responsibility as a buyer prior to attending and bidding at an auction. Learn more here.
What happens if I am the winning bidder at the auction?
The auctioneer will immediately ask you for the deposit. You will sign two copies of the memorandum of sale and initial all pages. You will leave the auction site with a signed memorandum of sale.
What if I can’t close within the specified time in the memorandum of sale?
Any extension beyond the specified closing date is at the discretion of the foreclosing lender. If you fail to deliver the balance of the funds, your deposit will be forfeited.
Who do I contact after I purchase a property and leave with a memorandum of sale?
The foreclosing attorney will be your main contact post-auction.
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