Buy Investment Real Estate at Property Auctions

With property prices much cheaper now than the past few years, it's becoming a good time to buy investment real estate at absolute property auctions. Absolute auctions happen when the seller orders properties sold regardless of price, even if the highest bid is just as low as $500. Look especially for property auctions where any government agency is the seller. Make sure to get the auction information at least a week before the sale, so you can inspect properties or at least confirm the location of real estate in which you might be interested.

Here are some helpful tips to get you in and to save you money when you buy investment property at a real estate auction.

When you are being on an auction, you will need to bring cash or certified funds and become a registered bidder. Learn how to bottom fish. Auctions typically start with a low opening bid. Always be willing to enter the beginning bidding for any property you are interested in buying, but also always drop out once the property is no longer a screaming bargain.

Don't let it get carried away at auctions. Enter with predetermined prices you are willing to pay in mind, and do not go above your price! An advanced tactic when you see your price approaching is to make sure you call out a price just low enough so that when someone answers with a higher price your last bid will be your ceiling price. One last auction trick is to save some money for the end of the auction when most people have already spent their money and left.