Question: “How Do You Bid On A FORECLOSURE AUCTION?”

This is an interesting question.

I'm gonna answer this question because I have the overall experience in real estate investing.

How do you bid?

The bid foreclosure is essentially when the lien order is about to take away a piece of property,

...when you don't pay the payment that you promised in the contract of some shorts and some kind of promissory notes, you default on it,

You haven't paid, an example of a promissory note is a Mortgage.

Any kind of agreement for payments and you stopped paying, and then they can slap a lien on your property,

...then they can attempt to legally foreclose on your property, which means to take away the property from you.

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Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.

He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.

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