1. [Volume 1, Issue 5]
The Guide to
Buying
Foreclosed
Homes at
Auction
Contents
Foreclosure auctions, sometimes Introduction……………………. 1
referred to as sheriff auctions when
Foreclosed Home Auction…..2
conducted and managed by a local
sheriff, are the most common type of Contact Info………………………. 3
foreclosure sale. Foreclosed homes go to
auction when the homeowner fails to pay
their debt in the pre-foreclosure period.
Known for being fast paced, even
seasoned buyers can find auctions for
home foreclosures overwhelming.

2. 2
There are two things you never want to do at an
auction for real estate foreclosures. The first is to
miss out on bidding on foreclosures for sale
because you lose your window of opportunity. The
second is to get caught up in the process and make
an offer above your predetermined maximum bid.
This guide will show you how to be properly
prepared for a foreclosure auction:
 Try to get pre-approved for a home loan: Depending on your state laws, you may
need to prove that you’ve secured financing in order to close a foreclosure sale. Even
if you live in a state where the non-judicial process is the norm for foreclosure
properties, it never hurts.
 Find out as much as you can about the home: You may not have time to do it prior
to the sale, but if you can you should run a title search and, with permission, hire
professional inspectors. If nothing else, you should visit the property in person.
 Research the market: This is important if you are buying foreclosed houses as an
investor. Investors should research the prices of similar foreclosed homes in the area
and homes at market value. Buyers who don’t intend to resell should also research
foreclosure prices.
 Determine your maximum bid: Use the figures you gathered from similar
foreclosed homes in your area to determine your bid. Subtract the cost of any liens
on the property and/or damages that will need to be repaired. Find out if any
additional costs are charged to the highest bidder.

3. 3
You should call any sellers named in foreclosure listings to
Foreclosure DataBank see if they are current. Auctions of foreclosure homes can
at times be cancelled or postponed prior to their initial
1602 Alton Road #432
auction sale date. If you are interested in government
Miami Beach, FL 33139
1-888-596-9279 foreclosures, such as those sold through HUD, VA or USDA,
ForeclosureDataBank.com@gmail.com check to see if these are also available at auction.
The biggest foreclosures database on
the web
Find us on the Web:
www.ForeclosureDataBank.com
Want to know more about buying foreclosed homes for
sale at auction? Read our blog:
http://www.foreclosuredatabank.com/foreclosure_auctio
n.htm