Hi BP Modesto/Merced community...Can someone tell me if Modesto has REGULAR auction sales on the courthouse steps? I went to the tax assessor's website and it shows a sale back in November but nothing about weekly or monthly sales, so i was wondering if they do regular ones? How about Merced, do they do auctions at the courthouse?
Stanislaus County has auctions every Monday, Wednesday, and Friday at 1100 I Street @ noon. There will be one later today. Merced auction is every TWTH at 12:30 and I believe the address is 627 w 21st st. Merced but I could be off on that one. I’ll see you there
@Michael R. The auction you saw on the tax assessor's website back in November was a TAX DEED auction. Those are usually only held 1-2 times per year in most counties. However, it sounds as if you're asking about FORECLOSURE auctions, which are held more frequently. Mark provided info on those. They are frequently held at a courthouse, but they're not conducted by the county. The county conducts tax deed auctions. Two totally different types of auctions.
Yes, Merced occasionally has auctions on the courthouse steps. I've attended several.
Do the words "Irrational exuberance" mean anything to you? It's just nuts what happens there.
hi all, im new just curious what is and goes on during an auction?
Lol Letitia are you saying they get bid up til they're too high?
@Mark Silva thanks for the info. Do they always have properties to auction, or is there a way to know before hand? Or is it basically show up and wait for the little peephole to open and somebody says "go away, theres nothing for you here today!" Thats great info tho, i'll definitly be checking it out.
@Kyle J. thanks for the clarification, still new to the foreclosure etc process, I need to look up the difference. I thought the sales were the same.
Michael, why yes they do! It's like they didn't do homework, look at comps, etc...
Francois Acosta, you get there, and are assigned a number after filling out paperwork. In Merced, you're required to have money orders to pay for the house with you. Then they tell everyone standing around if the houses listed are actually for sale that day, often they're not. If they are, then they'll start the bidding, and it's just like an auction, you're bidding to win. I don't know what happens if you actually win, since I've been outbid each time. It looks like more paperwork, signing over money orders, and I don't know if they hand you a key right then or not.
I hope that helped.
I believe Letitia is describing Auction.com because the normal trustee auction you are not assigned a number. You bring cashiers checks with you (not money orders) and a government issued ID with you and that's all you need. I attend the auctions nearly everyday, and yes, sometimes the homes get bid up past your number, especially Auction.com because they market and attract people who have less auction experience but it's a numbers game. You can definitely make money out there I've been doing it for years.
There are several ways to get information on the homes listed for auction because it is all public information. Newspaper, county recorders office, the auctioneer posts notices on the courthouse (although sometimes people tear them down), directly from the trustee websites and 800 numbers, and there are online services (most common method) that compile all that information for you and more but it is subscription based. Hope this helps Michael and feel free to reach out if you have anymore questions.
@Mark Silva whats your favorite foreclosure/auction subscription service?
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