How to Buy Foreclosures at Courthouse Auction
[1:35] Two important points when buying at court auctions.
- Buying at the court auction requires cash only. If you don’t have it, you can partner with someone else. That’s how I started.
- If you are a successful bidder, you will receive a Certificate of Title, which only shows that you own the property. It doesn’t guarantee that it’s free and clear of any liens and mortgages.
These two things are major obstacles for most buyers, which means less competition and better deals for you.
[3:07] Foreclosure steps in a judicial foreclosure state.
- Lis Pendens
- Final Judgement
- Certificate of Title
[4:34] How to open an account with the court.
[5:14] Preview and research properties
[5:57] Title Search