Buying a home at auction is a very good way of getting a deal - sometimes! As mentioned by others, it requires a bit of footwork to ensure that the property being purchased is free from liens and other encumbrances (municipal assessments, etc.) and is uninhabited. Make sure you can get a thorough inspection done of the property before bidding on it, and have a title search run so that you know what you are facing. Once you have purchased, you should have a quiet title action done to get marketable title to the place and a warranty deed. A good local real estate attorney can easily help you with all of that. These days, banks frequently auction off homes that they have foreclosed on to save themselves the problem of having to put them up for sale. Be prepared to do your homework though, these homes are not without risk!
Carol Johnson Law Firm, P.A. : (727) 647-6645 : firstname.lastname@example.org : Wills, Trusts, Real Property, Probate, Special Needs: Information provided here is anecdotal and should not be relied upon or considered legal advice. Every matter is different and answers given here are general in nature and may not reflect current Florida law at the time you are reading this posting. Please contact me if you feel you need additional assistance with your matter.
Buying a property at auction involves a lot of risk and requires significant due diligence on your part. If you are not comfortable with the title search and dealing with any legal issues that arise, you should have an experienced real estate attorney involved.
I provide a free 15 minute telephone consult for security deposit claims and eviction defense. No attorney-client relationship is created by answering questions in this public forum. If you wish to create an attorney-client relationship, you must contact me directly and sign a representation agreement. Answers are provided based on general ideas and an answer specific to your situation would require a review of all documents.