Ask the auction company to supply you with information, over the telephone or email concerning specific properties as well as the auction process itself.

Find out as much as you can about the property.

Take full advantage of any inspections conducted by the auction company or schedule a private site viewing. This will allow you or your representative to see what you are bidding on and help determine value and desirability allowing you to bid with confidence.

This increases your comfort level by knowing your mortgage qualifications. This is especially important in today's economic environment. Even before you decide on a property to buy, you should prequalify yourself through your banker. There is generally never a mortgage contingency in a real estate auction. It is best to know you can pay for the property before you bid.

Check the local newspapers or online for auctions in your area. Attend and observe one or more auctions and familiarize yourself with the process before you attend an auction as a bidder. The auction process happens quickly, so knowing what to expect is important, when your time comes to buy. If you can’t find an auction, check here.

Determine your bid limit after examination of the property and all available information. Don’t be afraid to bid early. Most other bidders will be willing to pay just as much as you. The one who bids the number first, wins that day.

On auction day, it is to your advantage to arrive at the auction site normally 30 minutes to 1 hour before the auction (check with the specific auction company for exact details). By doing so, you will have more time to consult with auction staff who are should be prepared to assist you with your last minute questions regarding the property and the auction process. Upon completion of registration you will generally receive a bid number, terms of the sale, and other important auction day information (again check the auction company for exact details).

If you are the successful high bidder at an auction, you will be normally be required to affirm your bid with a signature and some sort of deposit. Check with the auction company for exact details on what type of money deposits are allowed and accepted (Generally a certified or bank check are required).