Translate
Chinese (Simplified)EnglishFrenchGermanHebrewItalianJapaneseRussianSpanish
Client Testimonial
"Thank you for your patience and professionalism in representing us on the purchase of our new home. You and your team were highly effective in making this transaction as easy as possible.

Your knowledge of real estate and management together is why we have chosen B.I.F Realty and Investments above and beyond any other management companies. The combination of buying and finding the right tenant on top of managing everything makes it such a pleasure to purchase an investment property. As we have in the past we will continue to refer you to our friends."


- Steve R.

postheadericon Before the Auction

Before the Auction

Once you have reviewed the website, talked with one of our Associates, and understand the excellent opportunities that are available by purchasing a home at the foreclosure auction, we will collect an up front retainer fee of $2500.  This is for our consulting services.

We will then go into an in-depth analysis of the types of home, or homes, you are looking for.  What is the price range?  What is the style of home you want (are you looking for a single family residence, a 4-plex, apartments, etc.).  We will then put together your Purchase Profile.

If you are going to come to town for the auction, we will have you fly into town the day before the auction.  At 6 pm that night we will have a list of properties that are going up for sale the next day.   We will analyze those properties and get with you that night to present a targeted list of properties that we should bid on the next day.

Inspect the Properties

When buying properties on the courthouse steps, it is important to understand that these properties are sold ‘as is’.  One of the most critical parts of our process, and one of the aspects that makes us such a valued partners, is that after analyzing the properties the night prior, at 5AM we will pick you up at the hotel and we will physically visit the properties that you plan to bid on.  We will take photos of the properties and do any and all inspections possible that morning so that we have a really solid idea of what the property is all about prior to any bids taking place.  The auction morning process will be:

  • Visit the homes with us on site starting at 5AM in the morning
  • Complete an inspection of the home.
  • You should do your homework and prepare a list of what you should look at
  • Inspect the home as thoroughly as possible.
  • See helpful tips on inspecting the home prior to auction (click above video)

Some suggestions:

  • Talk to homeowners in the neighborhood and local businesses, schools and any other regular destinations
  • get as good a feel as you can for what your life would be like in the new neighborhood (if buying for yourself)

Simple inspection resources can be found at;

  • Sample inspection checklist

All high bids are subject to:

  • A minimum price set by the property seller
  • The high bid is a final sale (a bidding contract) of purchase the property
  • All property sales are final at auction

All sales at the auction are “as-is and where is”:

  • Homes are sold “as-is” with no opportunities for further inspection
  • The purchase provides no contingencies
  • You can review all available documents on the individual property that we get before the auction

Register

When you are ready to begin bidding, the next step is to register for the auction. Registration is free and there is no obligation to buy or bid.  You must agree to auction terms and conditions and property disclosures for each property you plan to bid.  Must send us a $2500 check made to B.I.F Realty and Investments (this will insure your registration)

INSERT REGISTRATION FORM

Review Documents

If you plan on bidding on a property at auction. We recommend that you read the Auction Terms and Conditions thoroughly before coming to the auction.  If you are the highest bidder on a home, you will be required to sign.  The cashier’s check to the auction house and get a receipt. We get Title Insurance for your protection.  Remember:  all properties are sold on a “as is” basis.

Leave a Reply

You must be logged in to post a comment.

Search MLS Listings
Request Information

Your Name (required)

Your Email (required)

How Can We Help?