Re: First time home buying..
Not all foreclosures are a “bidding” process. It’s usually on like that with HUD homes, where you are doimg a closed online bid through the asset management company. I’ve only dealt with one “auction” in the last couple of years. Big lenders, especially HomePath are now going in and doing cosmetic changes like new flooring, paint and any repairs needed, as well as offering 2 yr res home warranties right off the bat, and the pricing it competitively to their defaulted homes so that they will sell fast, and those transactions work like any other sale.