After thinking about the expenses of mortgages and building a home, I have decided to buy a house from an auction and fix the house up myself. But I have so many about auctions such as:
1.) What else do I have to pay for other than the price and repairs of the house?
2.) Do I have to pay the total estimated debt?
3.) The only thing I understand about property taxes is that you pay for them each year. Where can I find help to understand how much money I will owe in property taxes for the house?
4.) The buyer earns the deed after he buys the house. So is an attorney really necessary to buy a house from an auction? If so, can I get an attorney after I buy the home? (Incase the occupants refuse to move out.)
5.) The house is in a different state. What if I decide not to move into the state yet? Can I still pay the bills of the house?
6.) I'm afraid that there are many more things Auction.com don't tell you when it comes to buying their homes? Is there anymore downsides to this I should know about?
Straight up answers only please! Thank you!
Read more: I have a question about auctions?
