Zero Risk Real Estate: Creating Wealth Through Tax Liens and Tax Deeds

Onsite Auction Tips

Let’s face it—attending an onsite auction is fun. The people, the atmosphere, the excitement, the bidding, and of course winning a bid or two. But there are some tricks to the trade that you need to know before you walk into an auction. Once you get to the auction site, here are a few Chip Tips to help make it a smooth auction experience.

First, get there early and get registered if you aren’t already. Bidder numbers are usually assigned based on order of registration. If there was no advance registration, register early in case seating is based on bidder number. If there is no assigned seating, arrive at the auction site early so you can secure a good seat up front. Being in the front half of the auction room makes it easier for the auctioneer to see you, and you avoid distractions behind you. Arriving early also gives you time to prepare yourself mentally, get organized, get all of your research materials out, and highlight key properties on your list.

Hiding in the back of the room as you might have done in your school days is not the way to make money at a tax auction. You want to be visible to the auctioneer. One of the last things you want to have happen is to make a bid on a piece of property and, because you were sitting in the back, behind a column, with your spreadsheet up in front of your face, the auctioneer never heard your bid and now it’s too late.

You’ve done your homework on each property up for bid, and you know the maximum price you’re willing ...