ANSWERS: 3
  • Try to find out what the former owners owed. The bank or mortgage company will bid against you until they have satisfied the loan. The terms are "cash" so you need to have the money ready.
  • Yeah, I think that's usually the problem -- you have to pay all cash. Probably only private equity companies do that in CA and NY.
  • if the property is in your price range and you want it get a building report on it before you goto the aution.

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