When you are looking to purchase real estate, take notice of the newspapers for local auctions. Buying at auction can be one of the best ways in to invest in real estate.
BUYER BENEFITS
At an Absolute Auction the buyer knows the seller is committed to sell
Properties are usually purchased at fair market value
Buyers can compete fairly and are all on the same terms as other buyers
Buyers determine the purchase price
Auctions eliminate long negotiation periods and Purchasing and closing dates are known
Property is sold with Warranty Deed, Free and Clear of all Liens or defects
It is important you do your homework. It is acceptable to preview homes selling at auction, bring a home inspector or atleast of flashlight to look in the attic and crawlspace. Just because a property is selling in "As-Is" condition doesn't mean there might be huge issues with the property- It means the buyer will not make any changes or improvements to the property- so what you see is what you get!
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