When buying at a foreclosure auction, be aware you will be required to pay a large sum of money down when/if you win the bid (very often $20,000). The remaining balance will be due within 24 hours.

Industry Insider Joel C.

[Our] repairs cost us nearly $4,000...If I had to do it over again, I would have had a qualified home inspector take a really good look at the place, so I would know if there were any expensive surprises.

Cathleen V.

Having traditional financing in place prior to making the offer is a must...The bank did not want to deal with contingencies, wait for approval, or hear about pre-authorizations; they wanted to close as soon as possible.

Samantha M.