Buying at Auction in Ca
Hey BP,
Looking for some feedback and any help at buying properties at Auction. Maybe in a nutshell the typical process, chances of actually winning a bid? I have never done one or have been to one but looking at Auction.com there are some really good properties in the area my business partner and I are looking to acquire a fix and flip. The starting bid looks great but I know that’s just a starting point. If we were to win a bid is there any contingency period to check title to make sure we are not taking in any crazy liens.
I’ve heard that we need to have a cashiers check ready....what is the usually amount we have to have in hand at the auction. Most of the purchase will be through private money but we have the ability to have decent cash ready to go at the auction.
Thank you in advance.