Be Prepared for Arizona Repo Auctions
When you go to Arizona repo auctions it is important that you are entirely prepared for what is ahead. This can be a fun process if you go prepared. Many of the things to expect is the location, the process, and condition of the house.
Arizona repo auctions take place on the front steps of the local courthouse. They do not occur indoors in warm weather and it is not a pleasant environment you would expect at a normal auction. If you are in Arizona during 120 degree weather during the summer then be prepared for a hot day and bring plenty of water. The courthouse will not be open to the public to use any restrooms or access any water. Be sure to bring water and supplies with you. If there are a bunch of homes to auction off for the day then you could be there for a while. Some jurisdictions auction the homes during the evenings or early a.m. when the weather has cooled. Just be prepared for a hot day in the sun.
Arizona repo auctions have an auctioneer that will shout out legal information to start off prior to the bidding. This person will make an announcement that the bidding will begin and then they will start with the houses. If you don’t know which house you want it isn’t a good idea to bid on the property unless you are willing to take a chance at a great priced house. It is usually a bad idea to bid on any foreclosed home until you know the condition and you have done plenty of research. You can bid on a house if you have the down payment required of what is usually 10% of the final bid price. Some events might require you to have a lender’s letter of prequalification also. Find out at the auction you plan on attending before you go if you want to bid on a home.
The condition of houses that go to Arizona repo auctions are usually in amazing shape. There are so many brand new homes that look fantastic. The one thing that you need to expect is that the outside is going to look poor because no one will have done any landscaping for a long time. The interior of the homes is usually new or in great condition. Of course you do always see a handful of homes that need a lot of work and are in poor shape but his goes with every auction that you go to.
