buying an Auction property, no inspection contingency view

[Matt Berklacy]

Are all auction foreclosures in America, site unseen, no contingency, no inspection, no return?

What kind of strategy can a buyer with cash and not much experience in flipping do to participate in an auction purchase with condidence in numbers?

1. the buyer peak in window, or buyer asks an agent to peak in window?

2. then hope and pray your estimate is close?

[Steve S.]

You will be surprised EVERYTIME. Think of what must happen inside a house for people to absolutely walk away from it and not even try to sell it.

You WILL eventually run into the following:

A house that has had too many animals, either pets or infestation.

Mold / Grow operation

Squatters/ human waste/ house stripped of all copper plumbing and wire

Caveats/ liens against the property that have to be paid prior to change of title.

Do as must due diligence as possible prior to the auction, hope for the best, expect the worst, and have a good remediation team on hand.