Risks of purchasing at a Foreclosure Auction?
Good Morning Fellow Investors,
So....I've flipped a several properties in the last year in a half and most of which have been REOs and a few estate sales. I live in the outskirts of the DC area and there are no shortage of investors and high demand for affordable properties. With the REO inventories being so low and competition so stiff, I would like to acquire more properties through foreclosure auctions (online or live). I guess I have been hesitant to proceed with this method of purchase due the horror stories I've heard about all these liens and debt you can end up purchasing. Would it be sufficient due diligence to run and title report prior to purchase or are there other things I should be doing before submitting a bid?
Any advice on this topic would be most appreciated.
Jade