How to buy a house at the foreclosure auction on courthouse steps from the bank
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- čas přidán 11. 09. 2024
- How to buy a house at the foreclosure auction on the courthouse steps. Today I'm bringing you into a live foreclosure auction. We've done our title search to find out the lender foreclosing is in first position. That means any other liens and judgments will be wiped out. When we bid, it's imperative to keep your cool so your emotions don't take over. Emotions are the enemy in real estate. The thing to remember is you never want to start the bidding process as soon as the foreclosing attorney opens the bids. I like to wait a while to see what other bids are coming in before we start our bidding. Watch and see how we win the bid on this house.
#howtobuyaforeclosure, #howtobuyahouseatauction, #howtobidonaforeclosurehouse, #winaforeclosure
• How to buy a house at ...
Great video, excited about getting started. Thank you for taking time to educate people on how to be come free from the rat race and build generational wealth.
Yes yes, thnx for speaking up my friend. Ur comments give me fuel to keep pushing. One day ima do a vid showing how challenging this biz is, plus create congruent content that's easy to understand and consume while doing the biz. Thnx for watching
YOU ARE IN FOR A BIG SURPRISE.
BEHIND THE BARS.
PROTECT YOURSELF WITH TRUTH.
DON'T THINK YOU CAN THRIVE ON COMMITTING CRIME.
FORECLOSURE IS A FRAUD!
YOU ARE STEALING PEOPLE'S HOMES AND DESTROYING THEIR LIVES.
ONCE YOU SIDE WITH THE TRUTH, AND JUSTICE, THE PATH OF ABUNDANCE WILL OPEN FOR YOU.
I've seen those auctions and normally its packed out. Not having much competition there, put you in a good position to win.
Yes, in out town there are usually 3-5 guys that typically buy everything so they didnt show today. U really know so we must be vigi6at showing up @ every auction. Theres a method
Cuestion after u put the 10% when u pay the rest of that money how long ...how much time they give to u ????
thanks for doing a video like his...it really shows people like myself that dont know really anything regarding the foreclosure auction process. thanks i am really excited in learning in maybe buying my own by next year.
You couldn’t buy a tin shack on 100sq of land for $36000 where i live! Congrats on the purchase, I appreciate your videos. Currently looking for my first house to flip.
Which area do you live in?
@@jenniferclemons516 Phoenix area when I wrote that comment. Flipped a house in Tempe. Great area
Great job Kris, u did it! I can't wait to win mine at an auction soon....I'm ready!
You can usually see the opening bid 24 hours in advance if you search for the representing attorney on the listing sheet. Call them 24 hours before and ask. Also check on the title/deed and have your attorney look it over for other claims on the property. As for people looking into this, make sure you know the procedure if the homeowner files for bankruptcy, as this could tie your money up for up to a year or more.
Ok, I've never been able to get that, what state is this in?
In states that have no right of redemption after the sale (as here, in California), after-sale bankruptcy is not an issue. The homeowner does have a year to legally challenge the legitimacy of the sale.
Fabulous! This was a dream auction! Prayers and hugs
SO very happy for you Kris! You deserve this reward for your perseverance. Congratulations and thanks, once again, for sharing the lesson.
Kris and Smitty on how to win a bid! Loved it!! Great to see Adam and April able to see it live!
Not sure if you’ll ever see Thai but this video help me exponentially, thank you my man
What, YES, I'm peeping in my friend, u made my day. Please let me know how it goes and come back on the channel to share w the world... Krisbuyshouses@gmail.com
Congrats!! Dallas County, Texas the Investor sharks are all over!
I like the trustee . Seems like a laid back guy
My first flip was from the auction. 👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻
Which auction?
Shaun Williams Sacramento County tax lien auction.
@@SteveRam oh ok. Because I am goin to a trustee auction in PA. This is my first time
Shaun Williams good luck! Hope you snag a deal
@@SteveRam thanks
I am on the receiving end of this . My house goes up for auction in 2 months . I made the mistake of contracting stage 4 cancer and becoming disabled . I also made the mistake of never having enough money stored away . But that's life . Off of other people's downfalls , vultures descend and feast . Enjoy my house whoever buys it . It's the law . It's life .Money
Wow, my heart goes out to u my friend. I’ll pray for you and any pain ur experiencing…What do u mean by “made the mistake of contracting”? I’ve never heard it put like that. Also u may be able to sell and get some cash quickly as well. Krisbuyshouses@gmail.com, God bless
Referring to a house buyer as a “vulture” is the likely reason you’re losing your home. A “someone else’s fault” attitude. Your “mistake” was not cancer, as most cancer patients aren’t being foreclosed on. You simply bought something you can’t afford. That being said, I hope good health returns.
Why will you hunt a person down if they buy a house in their name or their company’s name? What am I missing?
Awesome Kris, It seem so simple without sharks around.
Why would you hunt us down if we put a house in our name or company name? Is there a video for this where you explain in details the pros and cons of it and more details of a Land Trust? Thank you
Nice!No handshake..no worries.
It's all good.
Always a great video thank you for sharing
This is So easy to buy foreclosure house thanks for your information bro I thought like Car Auction Crazy is going on thanks again hope you do more video like how and what to inspect house before you buy
Congrats!! This was great informative info.
If you buy a home at an auction, is it mostly common that you'll have to evict someone or are there often properties that are vacant? Is there a way to find out whether they are or not?
Drive by the house. Does it look vacant?
at the sacramento county foreclosure auction, the investor has to pay all cash for the property at the time of sale. A person has to do the homework on the house before hand to make sure there are not any other liens on the property. We are talking about homes in the 200k to 400k range.
Wow, I'd like to interview u on that, shoot me an email krisbuyshouses@gmail.com
I think the T-shirt scared the other bidder away. ;-)
I wish it were that easy my friend!!!
Great video there are a lot of nuggets at these auctions
Thank you for sharing bro. Congrats.
YES, GET IT DONE, GOOD JOB!
Lol chris pulled up with the We Buy Houses.. and he won the auction 🙏🙏🙏🙏🤑💵🤣
you know, We always plan for success, plus your boy had several peeps with me, we rolled deep to that one. Thnx for watching..
Congratulations and thanks for sharing this knowledge.♥️
Congrats Bruh.You was cool an Smooth... Real good Spirit as always... will intouch✌
You may not be aware, but the character on the screen is of utmost importance when it comes to the message we want to portray in each video training. It's important to keep your cool in these auctions because the auctioneer is banking on us getting emotional and over bidding against each other. That's their game. I so wish you could've seen some of my mentors back in the early 2000's conducting business, they had NO emotion. THis is what I want you to see with me as well. It was awesome to see my mentor's do business where their faces would be emotionless, like playing poker. THe only way to win this game is to leave your emotions in the car, or at home. So, i think the message came out pretty good of the "Kris" character having no emotion with my bidding. Almost 1k views in the first 12 hours must mean we hit the mark on this one. Thanx so much for supporting my crazy world.
kris haskins
You stay smooth.i notice That from.gate.like yo this Kid chris is Cool....Realll talk...
✌
great video , how did you started? loke what has been your minimum winning bid.
Great job! Thanks for this video.
So after doing the paperwork right there, what’s next? You can walk into house now? File stuff with recorder?
Sure, but what state is the house in, where is it located, is it occupied etc? $36k seems cheap, but it may not be if the house is a mess and in a bad neighborhood. I hope you got the facts before you bid.
Better check the paper work. Just watched a case where the Les pendence that was filed gave sole jurisdiction of a property sold at a foreclosure sale to the original filer. The buyer was being told the property was being taken from them and the court had no jurisdiction. Even tho they filed their title it was void.
Thank you so much for this info stay safe and stay blessed
the bigger offers can put people off bidding anymore, also another good tactic.
This video was very helpful
Yes, i did all I could to bring u along on the ride so u see everything
Congrats!!!!
This Labor Day *"THE LANDLORD'S GUIDE TO SECTION 8 HOUSING::* More info here: aw8d9fb.aweb.page/p/6adc04d3-0118-48ee-b47b-bd35cce4a245
Why cant i buy a house in my name.
Thanks 🙏🏿 for everything 😊
So this is what Ludacris has been upto.
😂🤦🏿♂️
I’m so scared to do this, is there any other fees involved when bidding. Also if the property have tenant, how does one deal with them?
Ok, u should be extremely concerned but not scared. U have ur typical closing costs but if there are any other outstanding judgments or taxes u have to pay them too. This is not a strategy for beginners but as long as u have the right peeps advising u, u can't lose!!!!
Auction rules differ state to state, California does not allow 10% must bring total auction cost. What state are you in and where do you find out Lender foreclosing is in first position? This is interesting thank you.
What’s wrong with buying a house in your name or company name? What name should you buy it in?
YES, we never buy in our names. Nobody should risk a 6 or 7 figure asset with their personal name, it's just not smart. What if some creditor or predator attached a frivolous lawsuit? You're in trouble then. Here's my training on that topic. czcams.com/video/FI-4ytODKcc/video.html
Thank you for asking this, I was wondering that myself.
Awsome video! ^.^
Portsmouth! P-town baby!
The guy didnt shake your hand because its bad form to shake an opposing bidders hand ,it apoears like you 2 were in collusion - fyi never go to shake hands at a public auction
wow I never would have thought about that. Thank you for the insight dude
I heard the address in the video and decided to look it up, I see:
Sales Date Sales Price
08/29/2019 $ 36,000
02/11/2020 $ 61,000
08/20/2020 $ 271,500
8/29/19 was your foreclosure purchase but what were the other 2 sales? Just curious what you did with this property, and the ROI.
Ues, I ended up selling it, ur on the ball my friend. I was going to do the new con, but some other opportunities came up where I could deploy the capital is a better way. Ur really on top of things....
So can someone explain the putting it in your land trust before you close on it? Wish I could find someone in the Chicagoland area to learn stuff like this.
I'm new to the channel. Can you please go over why it is bad to buy a house in your or your company name. I guess I'm going about it all wrong. How do you establish a trust and what is it's purpose? Thanks
sure, you don't want some creditor or predator attaching liens to your houses. It can really hurt you when trying to sell. Further if something happens to you OR it's your time to move onto the afterlife, if the house is in your name/company name, you'll then have to deal w/ the powers that be to get the house OUT of that name... Hence, we NEVER put houses in our names OR company name. Go to my landtrust video to get a better understanding.. czcams.com/video/5NMESl42ujU/video.html
@@krishaskins thanks for taking the time to respond.
Thank you!
Hi there! Thanks for your videos. Probably a silly question, but seeing as I am new to the game, why would you want to put the property in a Land Trust name and not your own? Home i’m looking to purchase would be for personal/ family living use. Thanks!
Auctions so popular in Texas, they have it at a convention center setting. 8 different districts going at same time.
I'm in texas and live in the collin county area. I've gotten info online for the auction dates but not the times. could you help me with this?
that sounds fun.
so what did you buy ? Where's the video ?
How can i learn directly from you Mr. Kris? I live in Texas
I live in Pearland, TX.
shoot me a request krisbuyshouses@gmail.com
Thanks! If you only brought 1 cashers check is it ok for him to take more earnest money? And who is the check made out to?
I don't know how I missed this one, but GREAT Q. we usually bring checks in $5k increments. So, you can go up to the amount you bring. You make checks out to YOU and sign it over to the trustee after you win. That way you can keep the checks for the next auction if you don't win... thnx for supporting my mission
Great video! I’m planning on getting into this in the near future. My question is, if there is estimated debt owed by the borrower does it carry over when you purchase the property in auction?
depends on the debt. If it was debt AFTER the foreclosing lender, then it gets wiped out, if it was before, then it stays. You better be careful..
So is it possible to do a title search of a house before purchasing the property? What options do I have if I don’t own the property and am interested in buying? Any guidelines that I would have to follow before doing title search?
@krishaskins can you give example of the language of when it stays?
Unfortunately my city has its foreclosure auctions online now. So now buyers from all over, including other countries, seem to be able to outbuy the average homeowner looking for a deal.
i’m confused, do they start the bid at the amount of the lien/debt?? or do they just choose an amount?
Here’s the thing, you never know what the opening bid will be no matter how much the person borrowed. It is unfortunate, but you must be present at the auction in order to get the opening bid amount. I’m not sure why they still do it like this, but that’s how it is.
If the property is vacant can you go inside the same day you win the bid? Thank you.
well, we have done that before, but you really never know until you get inside the house. We've broken into houses, and changed the locks, but it is a bit scary.....
Do u get to look at the houses, and/or get inspections of it beforehand?
Question: If you don't use your name or business name to buy the property whose name to you use?
we always, always ALWAYS use Trusts..
That easy huh!
Well, what u didn't see is the years of research finding out how this all works. Further u didn't see the negotiating w the current squatter in the house, plus the research on the house to see if the title was good. So there's a ton more than just showing up to bid. I do have a fore closure training course if u need to get it down. But please don't look at this and figure it's simple, there's a ton more u didn't see
@@krishaskins Nah i got you as far as the prior leg work, i was just saying damn, that easy. Ive always heard or read bout auctions on the steps of the court house and was like damn. New sub here, bout to watch all your vids. 🤙🤙
💪
Ive seen guys at auctions go "$1 Dollar over" and keep going $1 dollar over each other taking hours to nickel and dime each other for one property. Not a fan of that crap.
Details? Where is the auction? How much cash do you bring; in what mounts; in the form of cashier checks or cash? How large is the house? and what is the estimated repairs? and market value? How did you find this auction (or any auction)?
great questions. Please make sure you subscribe and hit the bell for the FULL video. It'll cover all that info. In my efforts to keep my mission going, I have to keep putting out content. The full video w/ the property inspection will be released soon. Things have been a bit unbelievable lately and I'm vigilant to hire a good editor. thnx for your patience and supporting my crazy world
How did you know when the auction take place at your local county ?
yes, we have to keep track of them as they come out. They are listed in local publications. I have a foreclosure training here that walks you step by step how to get it done: the-real-estate-roundup-com.mykajabi.com/offers/tK9QLLKW thnx for supporting my mission
Im confused what did you mean by you will hunt me down if i use my name or company name and what is a land trust company and what did they need it for and how much does it cost for there service
Some dude bought the place I rent years ago and he rents it under a trust and never responds to the property management company he hired to manage the company, when I reached out to him the number listed with the parcel is a Asian nail salon three states away, I wrote letters to make repairs.people are scamming and not being able to pay for repairs or not knowing their property needs repairs because they hired a company to go out and aquire property for cheap like a investment all scammers
So once you win you have to have at least 10 percent down? When and how do you pay the rest!
in this particular case they mentioned that they have 15 days to close. It will be in cash. Either his own money or a private lender that he has on call is helping him fund it
Question , for the foreclosures do we pay the 10% of the starting auction Bid or 10% the estimated resale value?
10% of final bid i presume.
this is a good one, I'll make this the question of the day for tomorrow. thnx so much for participating.... make sure you're on our email list so you get all the questions of the day here: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b706c48
how do you know if is a lien on the property of any problem?
great question, I think that'll be the question of the day today....
Do you buy occupied homes at auction? If so, how do you get them to leave?
That can be tricky, u can but I never have. So you will have to work out how ur getting them out, it can be an ordeal
Thanks illl just after the vacant one's. Thanks for responding
hi, if i come as a tourist with cash, may i attend an auction? i am not US citizen but interested in house flip. thank uou.
not sure about that, I think you have to be a citizen or have an EIN to own real estate, you may want to look that up.
Non citizens can buy property in the US.
Did adam ever get that house sold that was up for lease option/ owner finance?
I have a follow up for u on that, he did an airbnb I think, but I'll upload that video shortyl. Thnx for the reminder Robel, ur keeping me on my game. Hey, I need to hire. Video editor, I've got hundreds of hours of videos but no time to upload
Youve got 2 phase out the shaking of hands .its 1950 through 1980's
So if I am understanding you bid, put 10 percent down then do the DD PERIOD then close?
Is this the case even if the foreclosure doesn't offer financing?
what, NO foreclosure offers financing. They're only there to liquidate the house. They don't care where u get the money from... yes, you put 10% down, then you pay the rest in 14 days.
@@krishaskins thank you so much! Auctions sometimes allow financing from what I can find. But that's super helpful to know. So I could bring 10 percent down to an Auction and get hard money lending during that 15 day period? Do you get to do any type of inspections before closing
are you able to see the property mentioned in the bid before the auction? or are you just blindly purchasing homes you haven't seen?
great question, it's extremely rare to put out that kind of money without at least seeing the property. Now, usually you won't see INSIDE the property so you must make sure you understand the occupancy as well as the perceived repairs before you buy. We do NOTHING blindly my friend. We have too much riding on our investors that believe in us. Good point.
I'm learning but why do you not put the house in your name? 🤔
WHAT???? we never put 6 or 7 figure assets in our name because some creditor or predator may try to come after you and place a lien against the house in your name and then ur stuck
Where do you get the dates of the trustee sales? Through county website?
yes, or depending your municipality, you can get them on Propstream, visit KrisPropertyData.com for a free trial, or in your local newspaper or legal paper. Go make it happen
How can you do it in Maryland?
Well, each city has their own foreclosure auction. U must become aware of all the processes in ur city. I have a training module showing u how to do this. My foreclosure summit
Very sad auction,35000 cash is nothing for a home
well, we must keep in mind this is what happens when we don't take care of our possessions. Unfortunately life happens, these peeps were on drugs and this is a common story. My concern is I was us to be ready to take action when opportunities like these arise.. thnx for watching
can I bring cash instead of a casher check for the deposit?
yes, I've seen peeps bring a ton of cash, but you never know who's going to be there so you'll have to protect it. It can be upwards of tens of thousands so you may want to have some protection while you're there... These things can get really gangsta with the people there...
@@krishaskins thank you
What courthouse in what state ?
Ill try and copy the same in another state if possible
We're in Virginia Beach my friend, where u working at
If not your name or company name how do you sign the contracts as???
Hey kenny, this is one of my favorite topics. We always put houses in land truats. I'm doing a land trast master class this thurs 2pm on my youtube channel. I'm offering the docs at a 60% off if u want them. The class is free.
After you put down the 10% how long do you have to pay the remaining balance
Pls remember every state has their own statue when it comes to foreclosure proceedings. In Virginia, we have 2 weeks, in Arizona its 2 days. Make sure u do ur research
Where in VA are you located?
hey, we're all in hampton roads area my friend, where do you do business?
@@krishaskins that’s awesome! In the Richmond area.
Hello, are you paying all cash or can you finance it?
Great question. This is going to be the question of the day today!!!! thnx for your support
When will I get an answer?
here u go czcams.com/users/postUgkxZpv5ie55ZArstpB8cID5Qt12lz4vOVxS
Can you show the house on the next video
We have a ton of footage one this deal, we'll be releasing it shortly, ur going to LOVE it.
Thanks for showing the live footage. I’m looking forward to getting started doing this!!
So whose name do you put it in while signing ?
U can pit it in ur name, then just assign it to ur land trust for $0 b4 closing, its over... good question. I think we'll use this for the question of the day Monday.
@@krishaskins Great Thanks for getting back to me ! & why is this better then putting it in your name /LLC? Thanks
So you don't buy a home in your company name? Not even a LLC
you got it right, we always use a tool called a Land Trust, you can check out how they work here! czcams.com/video/ihly5DINAZg/video.html this video will show u how it works
So did you buy the home for $3,600 or was that just the deposit
That's just the deposit my friend, u see the total sales proce during the bids, thnx
@@krishaskins $36,000 Right?
Who do you make the cashier check out to
What the name of the auction
It's the foreclosure auction my friend
Hello Kris ! So how do I know what date is the foreclosure auction in my area ?
Hello Kris, how can I get in contact with you so you can sell me a home?
we're at krisbuyshouses@gmail.com, thnx
When is the rest of 36000 due?being you only paid the 10%
We have 14 days to come up with the rest of the money.
This is how you get off your ass and take control of your life.
well, it's just part of business, but you gotta be there when it goes down...
So if you win a bid of 101$ and let's say their is a estimated debt of 80k does that mean you also pay for that debt or is that debt wiped away?
Good question, I think we'll use this for the question of the day tomorrow my friend. Thnx for contributing to our mission. Look out monday!!!
Where's the house?