Auctions. There are several things that you will want to prepare for when you are getting ready to go to an Auction with your Real estate professional. Make sure you are getting a True Cashiers Check that reflects true and “certified funds”. There are a couple of larger Credit Unions that love to give our Auction and Cash clients “bank checks”. I would not turn down a “bank check” if someone was giving it to me. However, the auctions are wanting certified funds. Just like Escrow.
Second – Have you agent run the interference before hand with all of the properties you have on the list and are interested in. Don’t have your agent cut corners. If you are not sure who is habituating the property, the owner, tenant or squatter – go with the worse case scenario with regard to eviction costs and timeframes. Also, in those cases, you will need to extend your “damage estimate” as well.
Have you real estate agent pencil out the numbers several times and present them to you in a factual basis. Based on current economic theory, real estate experience and the M.O of the various auctions.
Here is an Updated Santa Clarita Auction I just completed that will give you current Auction inventory in the Southern California Area. Including an emphasis on the Santa Clarita Valley.