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Tips before buying an auction home
1. Make sure the home is vacant, as in some areas it is the responsibility of the new owner to evict any tenants or squatters.. This can be difficult and costly.
2. Make sure you have your financing in order before submitting your bid. In most cases the payment is due by the end of the day.
3. Have a maximum bid amount firmly established before bidding, so you don't spend more than your budget allows. It's easy to get caught up in outbidding your opponents, and forgetting you want the property because it's a great deal.
4.. Do your research. Conduct a title search. This will make sure there are no liens against the property or back taxes owed from the previous owner, and they will be your problem if you purchase it.
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