Walk me through the process of buying a home on public auction in TX?
I have found the Travis co Tax office website with the listed homes for auction and dates. Now, how do I submit a bid? Is there a procedure, form to fill out, certain way to have documents, or do I just stand at the steps and yell my bid? I'm serious. Please be serious with your answers. Thanks!
Public Comments
- You must have large cash reserve
- first - yes - you have to make sure that you have the funds on that date. other than that...call the Travis County Tax Office and ask where and when the Sales or Auctions will be held. also inquire as to any special forms or formats that are to be used in the bidding. in our area, the trustee is listed and we contact them...we meet on the courthouse steps on the sale date and give sealed envelopes to the trustee representative. he then goes back to the office and analyzes the bids and give the information to the bank or financial institution. the bank or fin inst. will be the deciding factor ---if the bids do not come close to what the loan currently defaulted at, then the bank will refuse all bids and may try at a later date or they may attempt to list the property. I hope this helps...good luck on your quest
- first and for most for all public auctions you must have cash and plenty of it, the day of the auction you will either have to put down a heavy non-refundable deposit with payment in three days or have certified bank check for full amount the day of the auction you will have no time to view property buying as is most likely on the clerks steps
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