What Are the Risks Involved in Buying At Court Auction?


With any investing endeavour there are ultimately going to be risks involved. Buying houses for sale in Southwest Florida at auction is a cash deal, meaning there are no refunds.

While real estate court auctions often offer some of the best real estate deals in the world, if you do not ­know the area and the specific homes that are being sold, you could get stuck with something you can never turn around and sell. To start, and as recently highlighted in news headlines, there can be many title issues involved, but that isn't all you need to watch out for.

You also need to be familiar with the local law and tenant occupancy protections so that you are not stuck with someone in the property who is not paying their way once you take over a property. Others have found that there are major property defects after they have purchased houses from court auctions, including Chinese drywall, so without proper due diligence an investor can wind up with a costly mistake on their hands.

Fortunately, just because you don't live in Southwest Florida or you haven't had much practice at bidding on houses for sale doesn't mean that you can't take advantage of the great deals to be had on your next home or investment property. For more house listings, visit our website.
Contact Us
For more Information


Comments

Related Posts