Buying Real Estate at Auction:

Buying real estate at auction may seem to be cut and dry but here are some important steps your must take before attending the auction.

• First inspect the property- Make a through inspection of the entire property. If you don't feel confident that you would catch everything hire a licensed Home Inspector that can also give you a idea of what the cost of the repairs may be.

• Review all documents- There may be disclosure documents, surveys and the like available to you to review prior to the auction, make sure that you go through all the documents and ask any questions you may have.

• Review the title search

• Be clear on the terms and conditions of the sale and get a copy of the purchase agreement to review. If you are unsure about what will be required of you, contact an attorney to also review the documents.

• Arrange financing with a lender

• Analyze all the comparable properties in the area. Analyzing these properties will make sure that you don't overpay for the property.

Debbie Komlo, Real Estate Broker, E-Pro. Coldwell Banker Advantage (919)931-8602