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Buying at a Foreclosures Auction

You are better off buying at a foreclosures auction than you are trying to buy from the lender in some cases. This is because you have less competition at the foreclosures auction. Many people hear the word auctions and they assume that the prices of homes are driven up so high that they aren't even worth the bother. This isn't the case. The truth is that most people don't show up at this type of a sale because they aren't aware that they are allowed to attend an auction let alone bid. Most people assume that they have to be an agent or an investor to have the opportunity to bid on homes and they don't even ask around or look into it.

A foreclosures auction usually takes place at the county courthouse front steps on the weekends. Some counties actually hold the sales at the front steps of the homes. These are usually in very rural and small towns across the nation that do this. If the sales are held at the home then you should always confirm with the courthouse what you need to do to be able to place a bid. It would be a travesty to find that you missed the requirements and you missed the sale of a house.

You should always consider a foreclosures auction when you want to buy a home that you have seen in the process of foreclosure because you will be one of the first to get on it. This means that your chances are higher to be the first person to buy the home.

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