What Happens at a Foreclosure Auction?

🟢Ready to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: bit.ly/3QWqfbq
🚨Do Not Buy a House without My First Time Homebuyer Masterclass with Digital Confidently Closed Handbook, Because After Closing is Too Late: bit.ly/47s4pT7 🚨
Ready to Buy Your First House? Watch these videos & Visit my playlists!
⭐8 Steps to Buy a House - • How to Buy A House | B...
⭐ Where Should You Start? - • First Time Homebuyer C...
⭐ Most Important People in the Home Buying Process - • Home Buying Process - ...
⭐ What is Included in your Mortgage Payment: • What is included with ...
⭐New Construction - • First Time Buyer New C...
⭐FHA or Conventional - • Which is better FHA or...
⭐Buying a House with Student Loans - • Buying a House with St...
⭐7 Day Perfect Credit Plan - • My ONE WEEK PLAN - How...
⭐Can you afford a house: DTI Ratio - • How Much Home Can I Af...
⭐What happens at closing - • What Happens During a ...
⭐NACA Home Buying Program - • NACA | NACA Program | ...
⭐Should I Rent or Buy? - • Should I BUY a HOUSE O...
⭐ Get Your Real Estate License Online- • How to Get Your Real E...
⭐⭐PLAYLISTS - / shaheedahhillrealestate
🟦Join My First Time Buyers Facebook Group🟦
/ members

[@mickyeah9599]

He pulling out his phone like he boutta Apple Pay it

[@PTP711]

😂🤣🤣😅😅🤣

[@danshealthylifestyle8443]

😂😂😂😂😂for real

[@jayqkelly6579]

😂😂😂😂😂

[@justthejuan8160]

Hold up did it go through lol

[@ItsTsharee]

😂😂😂😂😂😂😂

[@zonashroyer1574]

Watch the man sitting on the stairs! I think he lost his home to these guys. I had to get my dad’s place back at one of these so thankful no one was there to bid higher that day.

[@ShaheedahHill]

I never though of that, I am happy you were able to get your dad's home back.

[@janetmcdaniel4717]

@zonashroyer1574 Were you the only person there that day or the only person that bid?

[@zonashroyer1574]

@@janetmcdaniel4717 No one else bid but there were a couple other people there. It was about 20 years ago and it was run down but I got it back!

[@zonashroyer1574]

@@janetmcdaniel4717 I think I was the only person that bid, but there were a few other people there the place was pretty rundown!

[@irene27206]

Wow, it nice to see it live. Thank you Shaheeda

[@xternalbliss5639]

I had this idea in my head that these homes would be sold for wayyy less 😭

[@ShaheedahHill]

This one started at 265K, the auction usually starts with the amount owed to the bank.

[@tanjim7205]

Me too... I thought they were sold due to delinquent taxes.

[@tanjim7205]

I see these are *homes* under foreclosure...

[@bluscorpion]

​@@tanjim7205 That money is owed to the state, not the bank.

[@six6goddess214]

​@@yousef2508Your local courthouse holds them every month right on the courthouse steps.

[@thebusyhomeschoolingmomfiles]

Thank you Shaheedah for this, I always wanted to see how these went.

[@ShaheedahHill]

@thebusyhomeschoolingmomfiles Thank you for watching

[@themoisturehut]

I used to work at a county tax office and seen families lose their homes due to can’t affording the taxes and mortgage due to some type of hardship. These auction foreclosures at the courthouse were always sad.

[@jackieeeap2]

Can anyone go to these ?

[@rapsheets4993]

Yes , you just need cash that day to buy it.

[@S0nyToprano]

They aren’t. It’s business? Life ain’t fair sometimes. One persons fall is another persons gain. That’s how I got my home. Stripped the house of all the BS personalization they made to it.

[@themoisturehut]

@323babe8 yes sure did all the time. But they had people high up, the insiders that would get the properties before anyone else ever had a chance

[@edwincuevas4823]

@@rapsheets4993not true bro they place a hold and give u 48 hrs

[@thotunewstildont5348]

Dude walked up like he had 275k in his back pocket😂😂😂

[@rapsheets4993]

Yes that have to wire the money that day. It's acash transaction

[@P_double_H]

They do. You have to pay right there and then. No running to get money.

[@jackieeeap2]

My family lost their home due to foreclosure, thanks to the 2008 recession. It was a hidden God sent because now we have more money in our pockets and the house had some spirits that wouldnt let me sleep, making noises, turning on the water, dropping things, touching, and some showed themselves, one being a native american and another one a child, so in the long run, it was good to get out. That kind of trauma never leaves you.

[@thiccredgyal3404]

I hear noises like that too

[@jackieeeap2]

@323babe8 1940s in downey, CA. I believe there use to be a deep river and ranch there. I've heard that any body of water attracts spirits, so maybe. Once a gardener left our gate open and our dog got out, we went asking neighbors if they saw him, one asked in what house did we live in, my mom told them, they replied with " oh the house where they have ghosts". They said they knew of that because there was once a film crew at the house ... obviously before our time. We tried to gather info from the local library but nothing.

[@faded3657]

lil bro thought he had him with that extra .5 💀

[@ShaheedahHill]

@faded3657 Thank you for watching 😊

[@Kudeghraw]

No, it was a troll. Knew he was outbid. Got him to pay an extra .5.

[@Teee_777]

I’m starting to think just saving $10,000 for a home downpayment is much more easy/ simpler instead of the foreclosure route

[@six6goddess214]

Try HUD homes as well.

[@Alex-V.S]

I don’t want to shutter your dreams but I don’t think you’re buying absolutely anything with a $10k down payment. That’s just 10% of $100k! You’d probably need at least $50k down to buy a cheap home in most of the US.

[@luzfelipe2964]

@@Alex-V.Sexactly. Lots of people are so financially ignorant/ uneducated that they don’t understand how things work. Because we are so used living paycheck to paycheck and never save money.

[@HBM_Tyrez]

Guess y’all two never heard of this thing called a fha loan

[@Lub22]

@@Alex-V.Syou’re insane

[@bridget2369]

Thanks! Very informative

[@brandymiller4317]

Thanks for sharing often wondered about this

[@CGMVentures]

Get the extra proceeds ppl!!!!!!.they sell for more than owed!!!!! Get your funds...

[@dommie2691]

Aww 😢 I think the person on the steps was crying 😕

[@MrFlyboy1313]

No, they’re just tired and bored waiting patiently for the property they want to bid on to come up for auction. The former owners are usually already gone.

[@PatrickNovotny]

This must be a property tax sale. Foreclosures happen in the courthouse with a judge, not on the front steps of city hall.

[@ShaheedahHill]

No, its a foreclosure auction. Thanks for watching.

[@PatrickNovotny]

Sorry, my mistake. This process is way more formal in Canada.

[@hardin1271]

They occur on the courthouse steps almost everywhere in the country. The steps going into foreclosure can happen in the courtroom with a judge and a bank rep.

[@PatrickNovotny]

@@hardin1271 must be the wild Wild West.

[@hardin1271]

I wish I was in the Wild West. I can truly only speak to what happens in the Southeastern US. This is the way a majority of the counties do them. Others could be entirely different. What is the process in Canada ?@@PatrickNovotny

[@jeannevelus1784]

I know Douglasville when I see it!!!

[@user-ec6me8xf8s]

I said the same thing! The signs on the door. My favorite county to buy in.

[@Black-ig6vh]

❤ Thanks for the info. I now have a new search destination 💃🏾 Edit: Oh, it is only 27 minutes from Atlanta and 200 minutes from me....

[@mattg4306]

Crazy because they started at 1 😂

[@danshealthylifestyle8443]

These are cash buyers

[@LifeIsBetterWithLove]

Slowest one I've ever seen 😂 but it's okay for contractors to take everything. Guess that's why I'm getting that license too ❤

[@ShaheedahHill]

Yes, it's Georgia. Much more laid back

[@reneparedes8736]

What license?

[@mrprfct7069]

I thought she was going to fall with all that rocking.

[@ShaheedahHill]

🧐

[@CaliforniaCoastInvesting]

He’s looking for 275k in his pockets

[@ShaheedahHill]

That's where he literally had his cashiers checks 🤣

[@bridget2369]

Is the lady doing the auction in real estate?

[@ShaheedahHill]

She is the representative from the law firm, probably a paralegal. She was not a lawyer.

[@yawnahkay7362]

They always that packed?

[@ShaheedahHill]

It depends...

[@tiffnjsmith5871]

Douglasville

[@roh3999]

Where can I go to attend one of these auctions in North Carolina? And what are the requirements?

[@ShaheedahHill]

They are usually at your local courthouse once a month. Here is a longer video that gives more detail and links to foreclosures in your city - kzbin.info/www/bejne/a6KvqaGhosipbK8

[@1-blackcakequeen778]

Should have done this with the ex. I'd be rich. Thanks for sharing. 😊

[@lunagregoria8827]

I don’t understand

[@cezz1105]

​@@lunagregoria8827😍

[@kkidd1108]

Can I get pre-approved for funds and then bid on a foreclosure?

[@ShaheedahHill]

You need cash at the time you win the bid in most states. Bidders bring cashiers checks for different denominations to pay the same day.

[@jena.5952]

Cash for the entire amount?

[@MrFlyboy1313]

Yes, you can get a hard money loan from an investor lender but it’s the most expensive loan you will ever take out. Better to find private cash investors willing to get a piece of the profits after rehabbing the property and selling for full retail value.

[@skluis9964]

My father-in-law purchased his house 30+ years ago and only gave a down payment % on the auctioned price and put the rest in a loan. Don't remember the details of the loan but it was not a hard money loan because it was with BofA unless BofA gives hard money loans. Is that not possible anymore?

[@meks194]

It’s usually cash for 10% of the bid. But every state is different.

[@xotpro2950]

lets say a house that was valued at 600k when purchased by original owners and now it’s worth 800k when foreclosed on. Realistically speaking, around what number would a bid start?

[@ShaheedahHill]

It usually starts with the loan balance at the time of foreclosure.

[@deluisenterpriseshostluis3027]

So if they sell $280k and mortgage was $480k Do they owe the rest

[@ShaheedahHill]

No, they buyer does not. The bank may be able to go after the original owner for the difference.

[@EVNL576]

Why would ‘they’ sell for $280 if the mortgage was $480?? And who is they?

[@SA-rs5pl]

During the 2008 debacle banks were getting the deficit from the Federal government. Don’t know if they still do?

[@d.baileyspeaks]

So many people adopting the victim mentality. KZbin has far too much free info available to make excuses. Stop!

[@DavidBerquist334]

If there is a tie on the highest bid what happens and if the loan doesn't get approved for the highest bider will it go to second highest bider and on real estate is there a starting bid like on eBay sometimes

[@ShaheedahHill]

There is a starting bid. I have never seen a bid end in a tie. Somebody can go up by $1 or more to win the bid. The attorney typically does not keep the 2nd highest bidder and because they are paying cash onsite then there is no loan to get approved. Here is a video with more detail - kzbin.info/www/bejne/a6KvqaGhosipbK8

[@JohnBrown-jq9ys]

Link isn’t hyperlink like your others.

[@s.b.5768]

How do I find the auctions in my state?

[@ShaheedahHill]

Every local courthouse generally has auctions, so start by looks on the county courthouse websites and auction.com may also be helpful, just put in your city/state. Thanks for watching.

[@Ashroyer86]

Where does the money come from is the real question.

[@ShaheedahHill]

A lot of these bidders are bidding for other investors with money that help them finance the deals. If you notice the guy on the left is on the phone with someone, likely the person with the money.

[@hardin1271]

Who sets the reserve ?

[@ShaheedahHill]

The seller which is usually the bank...

[@darnelifrost9212]

so you telling me you have to pay that whole price

[@ShaheedahHill]

Yes, in most states, they pay immediately after the the auction ends or within 24 hours.

[@princekiki33]

Would you recommend a foreclosure for a first time home buyer?

[@ShaheedahHill]

Not necessarily, they are not the easiest to find right now. I have a video on...how to buy a foreclosure

[@yousef2508]

​@@ShaheedahHill Would you share the link please?

[@six6goddess214]

​@@yousef2508go to google type "Zillow foreclosures" and your zip code or County. It should pull up

[@six6goddess214]

​@@yousef2508prices are just as high as regular listings so you might not realize they are foreclosures.

[@bloxyedits]

1:18 you can her slip up and refer to the child as "he"

[@MoeToOFFeR]

Wrong vid bruh

[@joe44850]

Do you take Venmo?

[@ShaheedahHill]

😂

[@nicolahibbert9062]

so do you get to see the house before you buy it

[@ShaheedahHill]

You can drive past, but you are usually not able to get in the home.

[@nicolahibbert9062]

So you don't know what you are buying

[@cezz1105]

​@nicolahibbert9062 it's up to you to do your due diligence!

[@deborahlozano7134]

How if you can't get inside the house?@@cezz1105

[@dgcaz1]

30 years ago a woman I knew bought her 2 story 3 bedroom house for 18,000 cash at an auction. It looked great from the outside but had no flooring and needed a water heater and an AC. She put in tile floors with help from friends and slowly fixed up the house. It used to be way cheaper to do this but with mortgage rates thru the roof, you better have a chunk of cash for this.

[@treelyons4788]

What market?

[@ShaheedahHill]

GA

[@blewcollarguy5491]

So these people have 300k in cash

[@ShaheedahHill]

Yes, or they work for investors that do.

[@sirloin869]

Hahahahahahahahahaha...