TOGA

I've researched foreclosure auction procedures here in Ohio, and attended one auction just for educational purposes. I've found some information about auctions in DEN (Douglas County, specifically), haven't looked in PHX, and haven't been able to find out anything about LAS. Regarding LAS, I've looked for auction procedures within the State of Nevada, Clark County, and the City of Las Vegas & found almost nothing. The kind of info I'm looking for is, basically, how does one go about buying a foreclosed or pre-foreclosure property. For example, in Stark County, Ohio the buyer pays 10% of their winning bid at the time of the auction, then the balance within 10 days. In Douglas County, Colorado it appears that the buyer must pay the full amount of their winning bid at the time of the auction. Any input on any of this? Thanks!

daytonaflyer

I can't comment on your question, but please be very careful buying foreclosures at auction without an inspection. I remember watching a tv show last week where a guy had bought a million dollar mansion for about $300K without inspecting the property.
The outside was beautiful, but when he went inside, it was completely trashed. The floors and walls were completely rotted from hundreds of cats living in there and urinating all over the place for years. It was so bad that they had to completely demolish the house. He lost all of his money because he was looking for a bargain.
Most homes that sell at foreclosure auctions are not in good condition. The best ones tend to sell long before going to auction.