Buying a house in an auction in miami

[Rosemary Rendon]

Hello! 

I am looking for my first investement opportunity, i was looking into miami dade auctions website

https://www.miamidade.realforeclose.com/, i have never done an auction before so i was wondering if anyone here is familiar with the process for some advice. 

Instructions on the website for the bid are pretty much clear, says to do a deposit $5k to the courthouse cash, then if you do win an auction you have 24 hours for the full amount. 

My questions are, can the houses be inspected ahead of time? at which point do i do a title search? Do i need to get a title insurance when doing the closing?  Is there additional fees i should be aware of?   I will really appreciate any advice you can give me. 

Thank you all in advance!

Rosemary 

[Mark Fries]

@Rosemary Rendon

Buying at the county foreclosure auction for your first investment is crazy risky. It took me 4 years to even become somewhat good and knowledge at doing it...I would recommend doing about 6 months of research and planning before jumping in the deep end of the pool....