What experience does Bid4U have in purchasing properties at auction?
Buying since the mid 1990’s our affiliates and ourselves have purchase over 10,000 properties at trustee sales.
Where does Bid4u purchase their properties?
At actual trustee sale/foreclosure sale in Arizona. The law states no sale can be conducted before 9am and after 5pm Monday through Friday. The majority of sales are the Courthouse steps.
What do I need to do to set up the bidding process with Bid4U?
Take 30 to 60 minutes to understand the property data we’ll be sending you. We'll purchase the property at the trustee sale and resell to you for a small flat fee. Click here to learn more about the process.
Why are these properties, at auction, different than “Bank Owned” or Short Sale” properties?
Bank Owned are after the property went to a trustee sale and no one bid on the property. To purchase a bank owned property it could take up to 30 to 90 days to close.
Short Sales – are before the property goes to trustee sale. To purchase a short sale property it could take 3 to 12 months to close.
We recommend bidding for properties at the trustee sale, so no time is wasted. You will know right away if you get a property and can take possession that day if vacant. A lot can change in the market within a few months.
How does Bid4U select properties to make bids on?
We follow every foreclosure and track opening bids. If the opening bid is less then the value of the property we do in-depth research on the property.
Can I preview the property before having you bid on it?
We always encourage our investors to drive by the properties. If you are unable to drive the property, we can send you a drive report of the property on the day of the sale. These properties are still owned by the owner going to foreclosure, so we don’t have a legal right to see the inside. If vacant and open we will go inside.
How long does it take from the winning bid to owning the property?
You will own the property right away.
How do I know if the property is “free and clear” with no liens or title problems?
We work closely with Security Title to check for liens before the sale and get you a Title commitment before we pay for the property no later than 5pm the next business day.
What happens once I own the property?
You will need to change the lock if the property is vacant. If it is occupied you will need to work with the old homeowners on moving out or to do an eviction. We can recommend an attorney that will help you with the eviction process. The eviction process is not a difficult process.
If the home needs rehab, are their local contractors who can help me out?
We don’t rehab properties for our customers, but will give you list of contractors who can do a great job for a reasonable price.
Does Bid4U offer property management if I acquire the property for investment?
We don’t offer property management but will give you a list of good property management companies who will help you with your new rental property.
Do you offer financing?
We work closely with a few LARGE Private Money Lenders that will fund within 24 hours making sure it is paid for by 5pm the next business day as prescribed by Arizona Law.
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