Looking for advice about purchasing via Auction

[Mindy Jensen]

A friend is looking for advice about buying from an auction. She won the auction in Illinois. Tips?

[Philip Williams]

Hey since we don't know what type of auction it is i'll just give some general knowledge. I'm assuming it is some type of foreclosure auction? When I win at a foreclosure auction the first thing is getting a hold of the law firm handling the foreclosure. I politely ask for the soonest court date possible sometimes they accommodate sometimes they do not but it never hurts to ask. Second assuming they have scheduled it and told you make sure you are free for the court date. I'm always surprised how few investors show up to court after winning a foreclosure auction. The default is to give the home owner 30 days to vacant even if the property is empty and they do not request 30 days. Since obviously we have to deal with the 90 day flip rule and also time is money we want possession of the property ASAP! I then prepare a motion for immediate possession, I should note this is only for vacant properties, if they are occupied you cannot do this. Ok back to the next step lol, I prepare a motion for immediate possession and attach an affidavit supporting it. The affidavit is basically saying how I know it's vacant, I called the city utilities were shut off on such and such a day, I checked with the post office they stopped delivering mail, I saw a moving truck on this date at noon you get the drift. After that the property should be yours and much quicker then average! 

FINAL STEP 

sell for a huge profit and get a big bag of money!