Is this a good deal?

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[quote author="freedomCM" date=1227252444]you need a lot of cash, and probably the help of a professional. You will have to investigate the leins and taxes on this place and such.



I know that Jim the Realtor in SD does this with his clients, but don't know of anyone local.



Maybe IR2 can do this, or knows someone?</blockquote>




The words "help of a professional" brought me back to reality. You are right I probably don't want to get involved in auctions as I know little about them. I'm sure I'd end up getting burned going it alone. Are auctions 100% cash deals? If that is the case I only have a 1/3 of the money needed.



Who knows.. Maybe the bank will come around at the last minute and accept my offer.
 
[quote author="Mcdonna1980" date=1227266867][quote author="freedomCM" date=1227252444]you need a lot of cash, and probably the help of a professional. You will have to investigate the leins and taxes on this place and such.



I know that Jim the Realtor in SD does this with his clients, but don't know of anyone local.



Maybe IR2 can do this, or knows someone?</blockquote>




The words "help of a professional" brought me back to reality. You are right I probably don't want to get involved in auctions as I know little about them. I'm sure I'd end up getting burned going it alone. Are auctions 100% cash deals? If that is the case I only have a 1/3 of the money needed.



Who knows.. Maybe the bank will come around at the last minute and accept my offer.</blockquote>


To bid on a property at auction, you must have a cashier's check and show it to the auctioneer. Most professionals have many cashiers check. One with their base bid, and many small ones for the incremental increases up to their maximum offer price. If you don't have 100% cash, you cannot bid.
 
[quote author="IrvineRenter" date=1227268322][quote author="Mcdonna1980" date=1227266867][quote author="freedomCM" date=1227252444]you need a lot of cash, and probably the help of a professional. You will have to investigate the leins and taxes on this place and such.



I know that Jim the Realtor in SD does this with his clients, but don't know of anyone local.



Maybe IR2 can do this, or knows someone?</blockquote>




The words "help of a professional" brought me back to reality. You are right I probably don't want to get involved in auctions as I know little about them. I'm sure I'd end up getting burned going it alone. Are auctions 100% cash deals? If that is the case I only have a 1/3 of the money needed.



Who knows.. Maybe the bank will come around at the last minute and accept my offer.</blockquote>


To bid on a property at auction, you must have a cashier's check and show it to the auctioneer. Most professionals have many cashiers check. One with their base bid, and many small ones for the incremental increases up to their maximum offer price. If you don't have 100% cash, you cannot bid.</blockquote>


I was going to chime in saying that I could help, but you got out the warning before me. You need the cash, none of this silly loan business at the auction.
 
Anyone needing a "realtor" in northern SD should really highly consider Jim the Realtor. His website is full of testamonials, and the interactions that I've had with him have been truly top notch.



And even if you aren't, he has a great website/blog: http://www.bubbleinfo.com,which is well worth reading.
 
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