Question: How can I find out more about the trustee sale process?
- Answer: For basic questions, we are available to discuss by phone questions you may have.
Question: What if a property is occupied? Should I still bid?
- Answer: Over 50% of the properties that go to sale are occupied. We have never found that to be an issue with regards to purchasing a property. Depending on your investment strategy, you may want that as you have a ready and willing renter. If you are a flipper there are laws set in place to protect you as the new owner. We have access to attorney’s that will evict the tenant in 21 days or less for around $500. We have found that most people will leave voluntarily when you ask or if you provide them a small amount of money for a moving truck, etc.
Question: How accurate is the information in your foreclosure list?
- Answer: The information provided in our foreclosure list comes from 3rd party providers. We have designed a computer program that pulls the information from all of the respective areas and formats it into one nicely readable list. The information in the list is accurate to the extent which it has been provided to us by these 3rd party companies. The information is deemed reliable, but not guaranteed.
Question: How many people show up at these auctions?
- Answer: On any given day there can be as many as 100 bidders at the various auctions. Bidding is competitive. This is a lucrative enterprise and many people are there bidding for multiple professional investors. Additionally, new investors and spectators regularly show as well.
Question: Do I need all of the money by the next day or can I get a loan?
- Answer: All funds must be paid in full for the purchase by 5:00 PM the following day after winning the bid. Conventional financing will not work for this type of purchase. Hard money may be an option, depending on what the home sells for.
Question: Why do some homes have an opening bid and some do not?
- Answer: Unfortunately, because of the high amount of foreclosures, trustees may not announce the opening bid until the auction. We provide as much information as possible from our 3rd party sources.
Question: When do you update your list?
- Answer: Daily auction lists are uploaded by 11:00 AM the day before the auction.
Question: I would love to purchase property, but I am a professional and have to work?
- Answer: Great. This is precisely what Artisan Real Estate Group is for. We do all the work so you can continue to work.
Question: Can I buy real estate through my IRA?
- Answer: Yes, you can buy real estate through your IRA. We recommend contacting your tax advisor for more information on how you can take advantage or real property through this investment vehicle.
Question: Am I guaranteed to get a property at the sale?
- Answer: There are no guarantees. Your max bid which you are willing to pay for the property will dictate if you are the winning bidder.
Are you interested in purchasing and investing in trustee sale auction homes?
- Please fill out the information below and a representative of our company will contact you within the 24 hours to discuss your specific needs and how Artisan Real Estate Group can help.