Just like any property purchase, there are various expenses related to foreclosures auctions. Charges, fees, and costs differ widely, so it’s vital to realize these expenses before you bid. Here are a few questions people usually ask about financing and purchasing a foreclosure at auction:
Before the Auction
Because it’s the loan providers which are selling houses, why don’t they only finance the foreclosure sale? That typically doesn’t occur. The section of the lender that sells foreclosure properties and the section that does property loans are two different organizations.