If you’re investing in real estate, you’re either buying properties at auction or thinking about it. Buying investment properties at auction can result in higher profits, but there’s a lot of inherent risk.
Erick Verdejo lists the 10 top things you should know when buying investment real estate at public auctions. We strongly encourage you to read the article for the details, but here’s an overview:
- Online Bidding vs. Court Bidding
- Research the Title
- Know Your Type of Auction
- Last Minute Cancellations
- Refrain From Impulse Buys
- Buyer’s Remorse
- Unexpected Issues
- Hire a Professional
Research and Preparation
As the branch manager for Cosmopolitan Title Agency in Florida, Eric is very experienced at helping real estate investment clients purchase properties at auction.
Researching properties before purchasing them at auction is vitally important. And when there’s trouble regarding the properties purchased at auction, Eric recommends hiring a professional to take care of issues quickly.
Besides doing your homework and being prepared as a buyer, have a team of professionals working for you that can respond to issues quickly and resolve problems in a cost-effective manner.