Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
7y
Unless you’ve got experience in buying distressed houses, I wouldn’t recommend it. Just because something is cheap doesn’t make it a good investment for you. Feel free to send me an email if you still want steps.
Investor · Charlotte, NC · Member since 2008 · 217 posts · 12 votes
5y
First, you need good access to the auction reporting. There are private services that offer this. Second, since there is a 10 day upset period there is virtually no need to attend in person. After you identify a property, you can pull the file on the 3rd floor of the courthouse and place a bid with a 5% deposit. Clear title is not guaranteed, so be sure to research the property before hand. Each subsequent bid extends the auction by 10 days. If lose, you get your deposit back. If you win, you will be contacted by the attorney (substitute trustee) handling the sale with payment instructions. That's a very basic overview of course.