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Do you have a chance to inspect property you are considering for purchase at a foreclosure auction prior to the auction?

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Wiki User
2009-04-24 21:45:03

There is no chance a bidder would be able to request a viewing

of the property being auction of as a foreclosure! That having been

said, buying property at a foreclosure auction is an experience

unlike any other in purchasing real estate. Although it can be a

risky venture, it can often also very lucrative. Consequently,

while you should try to participate in a foreclosure auctions,

first-time and inexperienced investors should tread very carefully.

In contrast to an ordinary real estate sale, most times a potential

buyer will not even be allowed to inspect or survey the property

prior to the auction. Partially as a result of that, and owing

partially to the fact that one will have to come up with the entire

purchase price in cash over a short period of time, a purchaser at

a foreclosure auction would likely have to find nontraditional

financing and then later refinance to a more traditional mortgage.

== == Yes-- there should be a realtor that is handling the sale

although I have seen people just walk around looking in windows and

trying doors.

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