Foreclosure help

[Kelli Ford]

Hello BP,

I'm still learning and trying to figure things out.  I saw this property that will be Auctioned on February 23.  Does this mean that it is in the Pre-Foreclosure state?  Can the property be bought before the auction date?  Would I have to pay the starting bid price for it, if it can be bought before the auction?  Would I contact the trustee or the owner?  

I'd appreciate any advice.  Especially if I'm missing steps. :) 

[Lawrence Robinson]

Hi Kelli Ford. Before preparing to attend an auction, there's a good deal of due diligence needed to determine which properties are worth even considering. Just because they are being foreclosed doesn't mean it's a great deal. You can generally find everything you need to know about a given property at your county court house. If you don't have the time to do the research yourself, contact a title company and they will happily provide details such as liens, etc. I would strongly encourage you to attend a local REI meeting in your area to acquaint yourself with seasoned pros who can help you avoid the mind fields and get your business off to a good start. Best wishes in 2016 and beyond!