6/23 – Part 2

After looking things over me and my broker made the conclusion that the house is profitable. My broker then went down to the bank and got a cashier’s check made with his and my name on it. When you get to the auction you have to show proof of payment by having a license match up with the name on the cashier’s check. My broker then sent me to the auction which was a 45 minute drive to the Fresno County Courthouse. I have been to many auctions before with my broker so I knew the routine and what I had to do. Once I got there I first registered to bid. All what this is, is basically showing the county your Cashier’s check proving you have enough money to buy the house. After I registered to bid on the house I was there to bid on the house was the first one of the auction which was cool for me because the auction could last a few hours because of the many foreclosures on the market. Other people registered to bid but didn’t bid once the auction started. I had the highest and only bid for my broker’s house. I bid a penny over the opening bid and my broker was happy we got it at the lowest possible price. It was some very good experience for me by going to the auction