References. El Paso foreclosures Charlette foreclosures This is one of the many reasons to check in with the auction before you go. Make a set of photo and info sheets for each property — along with your top bid — just to avoid confusion on auction day. Other times, buyers may be as discreet as possible in order to stay under the radar. Memphis foreclosures If the bidding goes above your price, stop bidding and wait for another property to come along. Include your email address to get a message when this question is answered. This document must be recorded with the county recorder's office. San Antonio foreclosures, Minneapolis foreclosures The bank will then make a determination about how much loan they would be willing to offer you for the purchase of a home. This article was co-authored by Clinton M. Sandvick, JD, PhD. This article has been viewed 9,087 times. Are foreclosures riskier than existing home purchases?It depends on which foreclosure and which existing home. He received his JD from the University of Wisconsin-Madison in 1998 and his PhD in American History from the University of Oregon in 2013. Rent it out? Zillow also posts foreclosure auction information on homes, including location, date and time. By using our site, you agree to our, {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/c\/c4\/Buy-a-Foreclosed-Home-at-Auction-Step-1.jpg\/v4-460px-Buy-a-Foreclosed-Home-at-Auction-Step-1.jpg","bigUrl":"\/images\/thumb\/c\/c4\/Buy-a-Foreclosed-Home-at-Auction-Step-1.jpg\/aid1188269-v4-728px-Buy-a-Foreclosed-Home-at-Auction-Step-1.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"