How To Buy A House At Auction – good research = great deals

you keyed in how to buy a house at auction I guess probably the easiest way to say it is good results equal great deals now everybody wants to get a great deal and just because the house is at an auction doesn't necessarily mean that it's a good deal and negotiating the auction can be a little tricky I know I've been there now the auction house or the auctioneer isn't working for you he's working for whoever owns the house whether it's the bank the county and a tax foreclosure whether it's whoever whoever it could be like a corporate corporation that owns a bunch of houses or maybe a individual that needs to liquidate cash or has been forced to liquidate cash so just remember they don't work for you there their goal is to get as much money for that property as they possibly can now I had an auctioneer friend of mine whose goal was to get the auction bids up to a hundred and twenty five percent of the retail value that's 25 percent more than you could buy it at the store that was his goal and he often achieved it the reason he's able to do that is because auctions are sold through a motion that's why they go so quickly so you're not even thinking your hearts you know if you go to an auction just sit in one put your hand over your chest real feeling hearts aren't found when they're going 55 saying these guys have any and you just you can't really not be in you know it can't help but get excited about it I'm getting excited talking about it so before you get to the auction I got a few recommendations for you first off if you have a chance go to an auction when you have no desire to buy anything just to watch what goes on just to watch the excitement the fear and the emotional turmoil goes on in the auction and just watch the people it is going to be really key for when you go in there when you're doing it live I did it my first time I went to a real estate auction and it blew me away just you know there's 150 people there there was ten real players and just the watch that goings on back and forth and and I was watching people buying useless pieces of land that you couldn't even get to unless they had a helicopter for twenty or thirty thousand dollars they're completely landlocked so you really you know want to do that first see what the emotions all about before you get to that on to the next one I'm sorry is to find out if house is vacant you're going to want to be able to get into it if it's if it's far away the side of the country you want to get a realtor into it have a look around and you're going to want to get a building inspector and a or a handyman or you know contractor to go through the property if it's possible you're also going to want your realtor to do a CMA which is a comparative market analysis to find out how much other properties that are similar are selling for in your area and ask the realtor if this area is a good area or not our house is selling or are they just been sitting on the market for last couple of years so really key there because if you're looking to flip this property or move into and then sell on a couple years down the road you want to be in an area that is going to appreciate there's all sorts of you know great websites where you can you know get information on that if you're looking outside of your area here's something that's really key I believe is find out if there's any liens on the property and liens could be from a bank lien if they you know for going into foreclosure it could be a builder's lien where somebody came to do some work and they didn't get paid it could be a county a county tax lien or a deed that is on the property it could be from the IRS which is kind of hidden a little bit harder to find and it could be from the from the Utility District you know for again you're going to have to do a little bit of searching to find this because you buy the perfect house and you find there's $100,000 owing that you didn't do the research you're responsible for those payments now once you've done all of that and you're happy this is going to be the house for me maybe you pick one or two in the auction set your maximum price before you go into the auction so say it's fifty thousand whatever it is don't go above your price because that's where you get caught up in the motion pretty soon you're 55 60 65 70 75 80 did sold to the gentleman in the checkered shirt for 75 thousand you want oh my god what have I done set your price before you go this is really key watch the other bidders because they'll get into a bidding war with them on another video I'll explain some of the pros some of the best ways to to win that bid but for this one we'll just keep this fairly simple on the question they asked of how to buy a house at auction and I saw a lot of people just as I said getting caught up on auctions on buying things that had really no value yeah if you like to look at it you know I found the auctions were great buying real estate is always you know being good to me but it's very sick like it's up and down and I need a constant more constant cash flow in my life I get involved in an online marketing business which is just blown me away not only is it you know consistent it is fun to do I'm not having to travel I can do it anywhere I go I can sitting in my back yard here I could be in a hotel room I'm doing my work on you know sunny days I go down to the beach I am able to schedule my time that suits me and best to work my business it's really cool if you'd like to have a look at it as a way to supplement your real estate holdings or as a complete standalone business go to work with Gerry calm that's wor K WI th G rry calm or click the link on this page and it will take you there it'll ask for your name and your best email and we'll send you a 45 minute video trust me you're going to want to see you're going to want to put 45 minutes away to see this video this is Gerry wishing you a great day and good luck on the auction Cheers

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Views: 109,314

Rating: 4.830018 out of 5

Keywords: How, To, Buy, A House, At, Auction, How To Buy A House At Auction, How to find tax lien properties at auction, How to buy a house with a tax lien

Id: s4j_TbV6Qec

Length: 5min 34sec (334 seconds)

Published: Sat Jul 04 2015