Are you new to real estate investing and don’t yet know where to find foreclosure auctions? I’ll focus on non-judicial Trustee Sales, which are held in most states. A few states do only judicial auctions of foreclosures – aka a “Sheriff’s Sale” – but we will put those aside for the time being.

Foreclosure auctions, aka Trustee Sales, are arranged by the County Clerk’s office and held in the county where the property lies, at a specified date and time, usually at the courthouse or county administration building. Before a foreclosure property can be auctioned, the lender must follow a detailed, step-by-step process as determined by state law. The defaulting borrower must be notified of their right to repay the loan within a certain period (such as 20 or 90 days). The county and the public must be advised ahead of time of the sale to be conducted in a specific upcoming auction.

Each County Clerk has their own means of notifying the public of upcoming auctions and the properties to be sold. Traditionally these notices are posted in local newspapers, but not always. Most of the larger metropolitan areas have internet postings of the information. But in some smaller counties you’ll have to go in person to the County Clerk’s office and see what’s pinned on the bulletin board.

County government website examples:
Maricopa County, AZ http://bit.ly/1uunCds
Portland, OR http://bit.ly/1riXqDT

The County Clerk’s office can advise the date, time and location of the auction is given, as well as information on requirements to be able to bid, and how you must pay if you are the winning bidder (for instance, a $10,000 cashier’s check, with the balance to be paid by close of business, or within two days, etc.)

In addition to government notices, the websites of some private auction companies also track upcoming foreclosure auctions. Auction.com, RealtyTrac.com, and others post information on both Trustee Sales and other types of real estate auctions.

Commercial website examples:
Maricopa County, AZ http://bit.ly/XUGdoP (Auction.com website)
General calendar of auctions http://bit.ly/1p9nRHr (Auction.com – may not include all auctions)

States vary in their standard scheduling of foreclosure auctions. Both Texas and Georgia auction their foreclosures monthly, on the legendary “Super Tuesday” – the first Tuesday of the month. In comparison, some counties in Washington State hold Trustee Sales every Friday. Call your County Clerk’s office to find out how and where Trustee Sales and/or Sheriff’s Sales are handled locally.

There is no shortage of real estate auctions to find on a web search. However, most are not Trustee Sales or Sheriff’s Sales, although some may be bank-owned REO’s. Anyone can sell their property at auction through one of many local and national real estate auctioneers: online; on television; in hotel conference rooms; even on the property site itself; and at other auction venues.

Foreclosure auctions offer unique opportunities to get amazing prices on great opportunities, but also to stumble into financial disasters by not understanding all the facts concerning a property or an auction. If you are new to real estate investing, go to an auction to watch and learn! But don’t bid until you have learned how to do thorough due diligence, and have the guidance of an experienced mentor!

Are you interested in learning how to bid and buy at foreclosure auctions?

Here is a link to a list of real estate auctions and auction companies.

http://bit.ly/1wEjkSr

Look for my past and upcoming blog posts on foreclosure auctions, including the difference between foreclosures, REO’s, and other categories of distressed properties, and where to find good opportunities on project properties.

Beware the Pitfalls of Buying at Auction

Five Costly Rookie Mistakes in Property Auctions

The Top Ten Reasons to Use a Bidding Service When Buying Properties at Auction

Want to earn money with little or no investment of your own? Check out my new ebook “STREETWISE PROPERTY INVESTING WHOLESALE BLUEPRINT” explaining wholesaling and how to make it work for you!