It can take several days or even weeks to receive the official title certificate. Do not start renovations until you have full legal ownership.
If financing is allowed, you need a firm pre-approval letter and must account for a buyer's premium (often ~5% on top of the bid price). 🔨 Phase 2: Registration & Bidding
Hire a title company to perform a full search. You must identify any existing liens, unpaid property taxes, or co-owner claims that may "survive" the auction and become your responsibility. buying a house at auction process
Most platforms require pre-registration, proof of funds, and sometimes a refundable "bid deposit" just to participate. The Bidding Process:
You must usually pay a non-refundable earnest money deposit (often 10%) immediately, with the remaining balance due within 24 hours to 30 days depending on the auction type. It can take several days or even weeks
Because sales are final, the bulk of your work happens before bidding starts.
If the property is occupied, you are responsible for the legal eviction process, which can be costly and time-consuming. 🔨 Phase 2: Registration & Bidding Hire a
Pre-Auction Process - What is the process for property auctions?
