Foreclosures are a great investment opportunity. You will still need the help of a good agent to guide you through the process. They should be knowledgable with the foreclosure process. Some foreclosures are sold as is, while others may not be. A good agent can pull tax maps and comparables to let you know if you are getting a good marketable property.
An agent still can explain how the auction process works and be with you as support during the auction. Auctions usually explain all rules before the auction starts. There is usually a buyers premium on top of what you bid, but not always. Again a good agent can pull comps and tax records for you about the property of interest.
An agent is paid by the seller of the property, so don't be afraid to find one that you can communicate with easily. And in our area, an auction company will work with agents, usually a 2% fee will be paid by the auction company to the agent. Again, nothing for you to pay.
This is the way it works here in TN. So find yourself a good agent to work with, in the area that you want to invest in and get started. Wishing you well in your venture.
Now if your area of interest happens to be in TN please give us a call for good reliable service.

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