Research Auction Venue
Research the venue ahead of time. Click on the location and details of the event to determine exactly where it’s located. Auctions can be conducted by Auction.com, a trustee or by the sheriff at the county courthouse. A few states, however, allow foreclosures to be sold online.
Before you leave, you may want to:
- Download or print a map with directions
- Determine where you can park and if there are any parking fees
- Ensure electronics, such as a laptop, tablet and smartphone will be permitted
- Find out exactly where the auction will be held. Will it be inside a conference room at a hotel or on the steps of a courthouse? If it’s going to be outside, dress accordingly.
Check Property Status
Before you leave for the auction, verify whether the property will be auctioned and the time and place of the event. Most properties are “Scheduled for Auction” until the day of the auction when they may be cancelled or postponed. Foreclosure sales often get postponed or cancelled at the last minute because the homeowner reaches an agreement with the lender or the lender finds a buyer before the start of the auction.
If you saved the property to your dashboard, you’ll receive real-time alerts letting you know if the property was postponed, cancelled or cleared for sale.* Otherwise reference the property details page. The property status is located directly above the address.
* Real time alerts are available in states where Auction.com conducts the foreclosure sale.
We recommend tracking multiple properties in each auction event since many foreclosures get postponed or cancelled at the last minute.
Arrive Early / Register to Bid
If the property you’re interested in buying is scheduled to be sold, plan to arrive at least 30 minutes before the auction begins. Check in, register, show Proof of Funds (if applicable) and get your Auction Bidder Card (if applicable). Be sure to bring a driver’s license, passport or another government form of identification.
The order of sale may be random. Be prepared to stay for the entire auction.
Bring Your Payment
Many states require full payment following the auction. Check your state’s requirements. If your state requires a deposit and gives you a deadline to pay in full, then be prepared to show Proof of Funds. We suggest allocating 5% or 10% more than your budget so you don’t miss out on a great property.
While cash is still accepted, we recommend cashier’s checks, as they are safer and allow for faster processing. Check ahead of time to find out whose name should be written on the check and bring checks in multiple denominations to account for price differences.
