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Re: blind bidding?

Posted by Bill H on March 29, 2007 at 09:20:55:

In Reply to: blind bidding? posted by mike on March 28, 2007 at 20:48:49:

If you have never bid at an auction. I strongly urge you to study and learn what you may be getting into. This business is full of pitfalls and you can lose your shirt in a hurry. Plus, there is no returning of the property or getting your $$ back if you goof.

In probably 95 or so percent of the cases the owner is still in the property. Yes, they are frustrated, distressed, irritable, hounded by potential buyers, get lots of mail, etc.....SO.. your chances of getting in to inspect the property are very slim.

A very good judge of the inside can be based on what you see outside. If you see a vehicle outfront in need of repair sitting on three wheels and a milk crate, trash in the yard, lawn needing mowing...it is not rocket science to figure out what the inside will look like.

You can do lots of simple research and learn lots about a property without seeing the inside. Neighbors love to talk.

You can research the country records to find out what is owed, how many liens, who is on first, etc.

PLEASE, before you start get some education about this process. It is NOT what you see the late night TV Gurus saying about it.

Do not be dismayed and give up....LEARN and PROPSPER.

Good Luck,
Bill H

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