Generally the starting bid is not the final sale price.
Just as an FYI, you'll want to make sure what type of foreclosure auction it is. Rather, are you buying an HOA foreclosure (advise against if there is a mortgage), a second mortgage foreclosure, or first mortgage, tax lien auction, etc.
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I agree with my colleague. You will want to do a title search before you actually bid on the house. If it's an HOA foreclosure auction, you probably don't want to buy the house unless your goal is just to rent it out for a short period of time while the first mortgagee finishes its foreclosure action.
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