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How do Foreclosure Auctions Work? How to Find Properties, Research, and Bid

HomeLight

SEPTEMBER 30, 2020

The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. To help collect this money, the home is listed at a foreclosure auction where it’s bid on and (ideally) won. With online foreclosure auctions, you submit your offer digitally during a designated day and time.

Due diligence 98
Due diligence Hard money loan Finance Banks 98
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Flipping Houses in Texas: 5 Cities to Consider

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Even if something went wrong, you likely wouldn’t end up losing money. If you’re using hard money or a mortgage to finance the flip, the lender will likely require it.

House Flipping 73
House Flipping Renovation Investor Finance 73
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