THE MYSTERY OF THE FORECLOSURE AUCTIONS!

Few have the ability, resources, knowledge, experience and contacts to complete a successful purchase from the FORESLOSURE AUCTIONS. In MARICOPA COUNTY alone, 5 days a week, there are each day 9 auctions in 5 locations. It is a 24 hour marathon, every day.  Until 24 hours preceeding the sale time, no one knows which homes are going to sale.  1200 may be scheculed but only 600 will go to sale, acknowledged by the banks assigning an opening bid through the trustee.  Once the opening bid has been noticed, the race is on. Data on these homes is then pulled from a rather volumous county database, sorted into an analysis freindly spread sheet and reviewed by experienced, knowledgealbe eyes,  to determine which homes represent a potentially good purchase. Then those choices must be researched by investor criteria - size, age, location, opening bid, etc.  Those choices then must be comped as to today’s value vs opening bid. From that cut, the homes chosen are analysed by a 10 page package and given a max bid.  Bids are then placed  with a competent bidding service (another entire topic).  The homes being bid on are driven to determine condition, repair costs and occupancy situation.  Possession Laws are different depending on the occupants status of either being an owner or a tenant. Once driven and analyzed , bids are adjusted. When the final auction is underway we must know your max bid positon on that home to know when to quit and not get caught up in the moment of a fast paced auction.  Oh! and the right to bid requires a $10,000 certified deposit check, which is forefieted if the winning bidder does not pay the balance in full.  All sales are final and the full purchase price, in certified funds, is due the next business day.  Certainly not for the faint of heart or the undecided investor.

How Does Our Program Work?

We use a 3 meeting (phone conference) qualifying process to make sure this is for you. This is not for every investor.  In fact, few should be involved.  Our initial meeting goes into the investor expectations and the details of the risks of the foreclosure auction buying process.  The 2nd meeting is a 4-5 hour ride along to see exactly what efforts we put into analyzing and driving the homes and assessing the max bid. The 3rd meeting we deal with logistics of the movement of money and vesting and our agreement.  An in deph discussion of the 24 hours  after winning the bid to make sure there is no glitches in the process.