6/22 – Part 1

            Today my broker surprised me by letting me know that I was going to go by myself to the county foreclosure auction later today. On the way into the office my broker and I both looked at a house to see if we were interested in it. Many things come into play to determine if the house is profitable or not. You always have to first of all check the overall condition of the house. You do this by making sure that if you were to buy the house your not going to have to put too much money in it to re-sell it for a profit. Things like replacing the roof, air conditioning, having termite damage or any other high expense will tell you whether you should buy the foreclosure or not. Second if you were to purchase the house you need to make sure all the taxes are current and up to date and make sure the sale is a first trustee sale. If the taxes aren’t current or the sale is a second trustee sale you will have to pay extra money for the house and cover those debts for the previous owner. I’ll let you know what happens at the auction later im pretty excited to go and represent the company.