How to Buy a House at a Foreclosure Auction : HGTV FrontDoor Rea. Eight steps to finding a bargain By RealtyTrac | Published: 2/03/2008 A property owner who misses several mortgage payments has a pre-foreclosure grace period of a few weeks to a few months -- depending on the state -- to bring the payments up to date and stop any foreclosure proceedings. If the owner does not bring the delinquent payments up to date, the property will be sold at a public auction, which is announced via a Notice of Trustee's Sale (NTS) or Notice of Foreclosure Sale (NFS). NOTE: Buying foreclosure properties at the courthouse steps can be challenging and the most risky option because: You are competing with seasoned investors who track the auctions daily. You will likely have to pay cash for the property, because financing an auctioned property isn't possible in many states. You may not have much time to research the title and condition of the property beforehand. Here's how to buy a house at auction: 1) Find properties and look at them. 3) Check the potential bargain.
How to Buy Foreclosures at RealtyTrac. Terabitz: Technology for Real Estate Brokerages. Foreclosures Real Estate Foreclosure Listings and Homes at Realt. Real Estate Maps, Foreclosures, Property Reports and Comparables. Curbed LA.