Is It Best To Bid On Property At Public Tax Auction Or Approach Before And Make An Offer?
I have never been to any type of auction, so I am a little intimidated. I know that large companies and others who are seasoned in real estate attend these things. But, my q is, should I try to buy the guy out of his house before the auction date, will this be better odds at getting the property. And how do I go about that? My area in Ohio has a high foreclosure rate, but I also look up local tax auctions. My goal is first to find one house and renovate myself, then try two more after my first sale. Someone in real estate or who does this for a living please offer some tips! I know a little about how to check out home sale prices, liens and such. But where do I go from there?
You can try to buy him out, and pay off the lien in the process. This way, you are not bidding against anyone directly, but you can be sure others are out there trying to do the same as you.