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Foreclosure/Buying through auction



I am no babe in the woods, as I own several residential properties as well as a commercial one, all in Florida.  But I have never bought through the real estate auction site, although I have registered and bid several times up to the limit I set for myself.

Since the last time I bid, has added a category that apparently requires the buyer to "take possession", which I assume means to carry out the legal eviction process, although the foreclosure itself will have been completed.  So my simple question for you is can you give me any information specific to and this new category.


Sorry I do not deal with auctions at all.  They do not offer the same protection a standard offer to purchase gives you.  Look up the Waukesha County Sheriff Sale home page.  It contains a warning.  You may be stuck with back taxes and mortgages attached to the title when you buy at an auction.  I would post a link to the web site, but it seems to be down now.   

I would not consider buying a property from an auction.  Sure lenders may forgive a loan for one another.  Sort of a big boys club.  But if you get a deed with a loan attached, will they let you walk away from the loan?  I have seen to many problems with titles to trust an online auction company with something so vital.  

Consider properties you find on auction.  Do you think any of them will be offered with a clear title, or little or no mortgage attached?  

I feel much safer when everything including the guarantee of a clear title is in writing.  


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Dennis Herman


I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?


Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.

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