How to Find House Auctions
Investors in real estate use house auctions as a way to buy new property. The auctions can often allow investors to buy property at a cheaper price than a fixed listing amount. However, they need to find the time and location of the auctions to participate in bidding. Many sources provide this information. Those interested in participating in house auctions need to use the sources to make an auction schedule. They can then show up at the right time and place to bid on the house auctions.
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Instructions
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Find auctions for seized property through the website of the United States Department of the Treasury. Click on the "Upcoming Auctions" link and click on the pictures in the auction listings to find out the date and location of house auctions. Click the "Bidder Registration" link and follow the instructions to register to bid on auctions.
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Use the REDC online database to find real estate auctions. Click on the "Auction Calendar" link or use the search feature at the top to find auctions. Click on "Event Details" and "Register for This Auction" to register and bid. Click on the location links to see the individual properties for each auction.
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Contact the local sheriff to find foreclosure auctions in the local area. Lenders use foreclosure auctions to sell houses when the buyer defaults on the mortgage. Some states use a sheriff sale to auction off foreclosed houses. State law may require the auction details to be listed in the newspaper. However, call the sheriff's office for additional information.
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Use online search engines to find foreclosure auctions in other states and counties. Enter the phrase "foreclosure auctions" and check out all the websites. Many of the websites have nationwide listings of foreclosure sales.
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Search under the phrase "real estate auction house" to find more businesses that sell houses by auction. Click on the website links and find the sites with house listings. These auction houses sell houses auctioned by the owner or foreclosed houses in states that do not require a sheriff's sale.
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Tips & Warnings
Attend a live auction to get familiar with the auction process. Watch how the bidding works before bidding in a live auction. Always get full instructions from the business or government official conducting the auction. A bidder may have to bring a certain amount of cash or other money instrument to bid on a house.
Do not bid on a house before physically inspecting it. Visit the property and assess the need for repairs or other potential problems with the house. Check the local property records to see if anyone has placed a lien on the house.
