So, you’re going to buy your properties at auction now?  Here are some things we recommend you consider before you plunk down a big deposit to start bidding on properties.

• If you’ve found a property you’re really interested in, request detailed information from the auctioneer handing that property.
• Preview the property in person. The preview period is designed for prospective bidders to do their due diligence and inspect the property before the auction.
• Get certified funds or a bank letter of credit. And know which one your auction requires.
• Be early on auction day so that you have time to register.
• Bid This is what you came for, pay attention, and don’t go past the limit you’ve set for yourself.
• Settle up If you’ve won the property you bid on, there will be paperwork to take care of and payment arrangements to make. Real Estate closings typically take 30 to 45 days.