WHAT HAPPENS AT A FORECLOSURE AUCTION? 🤨🏠

A foreclosure auction is a public event where properties are sold to recover outstanding debts when homeowners default on their mortgage payments. Investors keen on capitalizing on discounted real estate opportunities prepare diligently before participating in such auctions. They begin by researching the properties up for auction, gathering information on their condition, market value, and potential for profitability. Thorough due diligence helps investors make informed decisions and set realistic bidding limits. Financial preparation is crucial, ensuring that investors have funds readily available to cover their bids. Winning at a foreclosure auction requires a combination of strategy and discipline. Investors must remain focused, keeping emotions in check as bidding intensifies. It's essential to set a maximum bid and stick to it, avoiding overpaying in the heat of the moment. Timing is critical, as strategic bids near the end of the auction can secure victory. Ultimately, the ability to analyze properties, plan a budget, and exhibit patience and composure can increase an investor's chances of emerging victorious at a foreclosure auction.

[GenXoutofamerica]

Hire a properly trained auctioneer because they're trained to motivate buyers.

[FaithwalkerTodd]

She went from 292 counting down and then get another bid for 293 and immediately close the auction without allowing anyone to try to overbid the 293.

[KellzxStudios]

God heavens so glad you caught that on recording, had me sweating bullets.

[gailwagner]

Is it just me or did that seem super set up? I mean they were going up and then she just cut it off with no additional bids that's weird..

[chrisking]

Are you trying to tell me, that at a property auction, somebody shouts out prices, people raise their hand, and then the highest bid wins? Unbelievable

[tresdj]

When we were fighting a predatory lender back in the early 2000's they tried to auction our house twice while our case was still in the system.... both times we were approached by some of the bidders looking to see if they won if we would want to rent from them till we can buy them back out. I thought it was so amazing that anyone even was trying to save these families from having to leave their homes! ❤❤

[Unknown_Ooh]

Then #5 slowly walks into the bushes and is never heard from again 😂

[jeremysargent]

You should add where this is so we know how undervalued the house was sold for.

[DropTheMyc]

WOW 🤯
This is the first time I've seen an American auctioneer not talk like an idiot I can actually understand what she's saying. 👍🏼

[IsBlankOutright]

Half the people there are with the auctioneer actors lol

[FishfryOGMcTaco]

Now I see why auctioneers talk so fast. Can you imagine Barrett Jackson at this lady’s pace? Would take a month.

[MrGamecatCanaveral]

Thank god this was recorded. Otherwise no one would have believed it.

[jodyrismoen]

foreclosing on a house that's already been paid out of your strawman

[ArcadeKid]

To be honest, it would be nice to see what the house looks like that determine if that price is good or not

[crazyskml]

Thanks to the predator loan scam in 06-09 I lost my 200, 000 dollar home to an “investor” that paid 25, 000 for it. ABSOLUTELY BS! The neighbors on one side deserve what is there now, three acres of over growth and dumping grounds. 👏👏👏

[staciemarie]

Do I hear a proper auctioneer? NO, I definitely don't! She needs to go once, twice and she's gone!

[Oml]

I wonder if nobody would have bid on the house, would the auctioneer reduce the price until they get a bid

[nickmckemey]

This is what they call a pocket listing the auction is for show it’s all about laundering I’ll gotten gains. It’s going for much more than the auction price off the books.

[bryanbaker]

Please delete this. This is the home of a real person, and human being that fell on hard times. Shame on those who posted this.

[raybriceno]

Investors ruined the dream but in reality turned into a nightmare.😂