Buying Foreclosures - Help Understanding the process!?
This is a total newbie question but I would be really grateful for some perspective from seasoned investors and BPers.
Does anyone have experience and could describe the process for purchasing foreclosure properties in the Triad?
- Are most foreclosure "in-person" auctions conducted at the local courthouse?
- What is the process for placing your bid?
- I've seen some properties listed on auction.com that are in the "outbid" status. What exactly does that mean?
- What steps should you practically take to protect yourself before bidding on a foreclosure?