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Buying a Property at Foreclosure Auction

If you're considering attending a foreclosure auction, here's what to expect and what to know before you buy.

[Updated: Jun 11, 2021 ] Apr 09, 2020 by Liz Brumer

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Pros of Buying Homes at a Foreclosure Auction Cons of Buying Homes at a Foreclosure Auction

• Discounted pricing -- you can often pick up a property for 15% to 30% off the property's value.

• Cannot see inside home before bidding.

• Auction setting means prices can be bid up too high.

• All-cash closing.

• Lots of research and due diligence to potentially not be able to bid or to lose.

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