Thursday Q & A - Your Maryland Real Estate Investing Questions Answered

Q:  How do I go about purchasing a home at auction?

A:  Last week, I talked about some of the due diligence you need to perform before the auction.   On the day of the auction, you need to be prepared as well.  You'll need to have a deposit check in certified funds for the amount listed in the auction notice.  You'll need to give yourself plenty of time to get to the auction.  Don't be late - the auctions happen very quickly and if you're just two minutes late, you could have missed your opportunity.

On the way to the auction, call the auctioneers at least twice to see if the auction has been cancelled.  Many times the auctions are cancelled at the last minute and it can be a big waste of your time if you get to the courthouse and the auction is off.

Preparation to buy a Maryland home at auction is essential.  If you're a first time investor, knowing what to expect can help lead you toward success.  Next week:  The Bidding Process.