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Leigh Ann Smith
  • Manvel, TX
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How to estimate closing costs to expect on auction property

Leigh Ann Smith
  • Manvel, TX
Posted Jul 26 2014, 11:27

I have been searching on the forums for quite awhile today, but no luck finding the info I am looking for.  Somewhere on Biggerpockets I learned that you should never use estimates when real numbers are available, and that has been our goal when assessing properties.  However, in this case, I can't even find estimates.

If we buy a bank foreclosure property at auction (in Houston/Harris County, Texas), what can we expect to pay in addition to the purchase price and the auction fee?  Will a title company give us an amount we would be charged for a property costing $X?  Is a title company even involved when you purchase a property at auction?  What about realtor fees?  Are there any?

Thanks for your help!

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