Also write down the names of the auction companies. You can then visit their websites to find out about upcoming auctions. [1] X Research source

The U. S. Treasury will foreclose on real estate when the owners don’t pay their taxes. You can find upcoming auctions at https://www. treasury. gov/auctions/treasury/rp/. Fannie Mae forecloses on properties. If they can’t sell a foreclosed home, they put it up for auction through a third-party auction company. Contact Fannie Mae to find out about upcoming auctions. [2] X Research source Other U. S. agencies that hold auctions include the U. S. Department of Agriculture and the Federal Deposit Insurance Corporation (FDIC). Check their websites.

You can also find auctions on Xome. com and hubzu. com. You will likely have to pay a buyer’s premium when using these sites. Additionally, buyers on hubzu. com must pay an excise tax.

Auctions may be listed on the MLS, which a REALTOR can help you find.

Some auction companies have pictures on their websites which show the inside and outside of the property.

Properties are sold “as is” at auction, which means you bear the entire burden of any repairs. You can’t claim the bank hid structural defects from you. Neighbors might also know whether squatters have moved into the property. If so, you’ll need to evict them after you buy the property at auction. [7] X Research source

A local REALTOR might be able to find one for you. If you have a working relationship with a REALTOR, you can call them and ask them to check.

You can visit the land records office and look for the deed. All liens should be recorded there. Alternately, you can hire a title company to run a report for you.

Depending on the auction, you might need to deposit a cashier’s check or use a credit card to send funds. [10] X Research source

Undoubtedly, your home will need repairs. Without being able to get inside, it will be difficult to estimate the amount. Nevertheless, you should plan for a worst-case scenario where you must replace plumbing and electrical. [11] X Research source Consult with a contractor to find out how much these repairs might cost.

This information might also be listed in the advertisement, so check there as well.

If you’re approved, you’ll receive a letter stating the amount you can borrow.

You can find the address for the auction company online.