Undisclosed structural or system failures (e.g., stripped HVAC). Secondary mortgages or IRS tax liens that you must pay off. Forfeiture
If financing is allowed, you need a firm pre-approval letter and must account for a buyer's premium (often ~5% on top of the bid price). 🔨 Phase 2: Registration & Bidding buying a house at auction process
Most platforms require pre-registration, proof of funds, and sometimes a refundable "bid deposit" just to participate. The Bidding Process: Undisclosed structural or system failures (e