Tips To Bidding At Auctions & How To Do Due Diligince On Foreclosure / Trustee auction properties for Harris County (Houston) & more

[Cynthia B.]

Hi Everyone,

I am looking to go out to the courthouse and buy an investment property. I have done quite a bit of reading online but I still have a long ways to go.

From what I understand here are the steps :

1) Most importantly is to complete a title search . 

2) Visit the property just before the auction , first thing in the morning .

3) Decide how much my maximum bid will be based on running the numbers .

4) BID !

I am very confused on the process of doing a title search for Harris county . Can this be done without going to the courthouse ?

I don't have anyone to drive around and look at possible properties . Is there a way of finding people who do this professionally ? Is it common for people to do this themselves ?

What is the best strategy when bidding ? Wait until the auctioneer starts counting down or being fast & assertive when the number of active bidders dwindles to 1 or 2 ? 

Is there a step that I have missed or something very important that I am unaware of ?

Thanks so much ,

Cynthia

[Sam Craven]

Cynthia,

You have a very idealistic view of the harris county trustee auction!

The short story is that its a cluster.  The good news is the release the list 21 days before the auction so you have 21 days to view the properties.  The bad news is there is usually about 1000 properties auctioned each month. 

To run a title search you need a good relationship with a title co or to somehow get access yourself.

Best advice for "winning" at auction is to set your price going in and dont go over it.

Good luck!