Buy a Home at Auction
Before placing a bid, we request that our investors do as much investigation on the property as they can. Listed below are our recommendations of additional due diligence that will help to ensure you get the best possible deal.
Drive the property
- Find out whether the home is occupied or not.
- Look at the condition of the home from the outside, look in the backyard if you can.
- If you have access to view the home from inside, do so.
Gentry Real Estate – Buy Low AZ Team confirms back taxes and will do a title search on properties that have bids placed to ensure that the deed of trust that is going to sale is in first position. We recommend that investors verify information before placing a bid. Below are the recommended steps:
Confirm Taxes in Arrears (Back taxes)
- Visit the Maricopa county Treasurer’s Office
- Treasurers Office
- Type in the 8 digit tax parcel associated with the home
- View tax information
Confirm Federal IRS Tax Liens
Maricopa Count Recorder Elections Department
We do not offer full title report. If investors would like to order a full title report, please contact:
Fidelity National Title
Phone : (480) 214-4567
Placing a Bid
After careful research on properties of interest, investors can then submit a bid. Gentry Real Estate – Buy Low AZ Team provides several means for placing a bid. Below are two of the methods for submitting bids.
Maricopa County Bids- firstname.lastname@example.org
Send text to the following phone numbers below.
Maricopa County – Spencer Caldwell 480-283-4425
With both methods you will need to provide the following information
- Property Address
- Vesting name
- Your Name
- Best phone number
- Maximum bid amount
- Details and Notes
- Include a note if hard money is required
Winning a Bid
If you are a successful bidder at the auction, a deposit of $10,000 is required. The auctioneer then provides the bidder with a receipt. Receipts typically do not include the property address and only include the trustee information associated with the sale. We will email you the receipt and breakdown of payment to Trustee. Full balance is due to Trustee by 1 pm in our office the following business day so we can drive to Trustee, and pay for property. If wiring the funds, the wire must be sent no later than 10 am and the office must be notified.
At the time of placing a bid, vesting information will need to be provided. The vesting information is how you will take title on the deed. Examples of vesting:
- John Smith, a single man
- Company, LLC
- John Smith and Jane Smith, joint tenants with right of survivorship
The trustee will issue deed one to two weeks after the sale. The procedure in our office is to receive the deeds and electronically record them online through Maricopa County. The recorded deeds are then mailed to the investors.
If you have questions on your deed please contact Spencer Caldwell 480-283-4425
Payment and Process
The process after the property is acquired at auction is a very important part of investing. It is not just about “buying right” but about managing the property correctly once purchased. We take a very hands-on approach, each realtor meets with the rehab crew at the property and completes a walk thru to identify what needs to be done. The realtor communicates with the owner to assist in such details as picking out colors, tile and carpet selection, landscaping ideas, and other details of the rehab. Our crews are licensed and are highly regarded craftsmen who understand the need to work quickly and efficiently in order to maximize profit and get the property “inspection ready”.
Gentry Real Estate is our brokerage and is a full service brokerage. They have developed a proven track record with REO, Short Sale, and MLS listings. We take great pride in providing the services we do for our clients, and look forward to a long and prosperous relationship!
Gentry Real Estate
Gentry Real Estate is a full service Real Estate Brokerage. Our Realtors have the knowledge and background to provide services for any client, whether an individual buying their first home, or a seasoned investor.
Gentry Real Estate offers a full service brokerage for investor that is unique in the industry. We have a team that creates recommended buys daily, direct “comps” from the agents, drive and condition reports, a full service rehab crew, and the ability to relist the property for resale. Our rehabbers are flexible and can provide as little or as much assistance as an investor needs. Each investor is treated to a service package that is customized to your needs and goals.
Hard Money Loans
Gentry Real Estate – Buy Low AZ Team
Uses six Phoenix based hard money lenders. Lending criteria does vary from lender to lender. However, we do ask borrowers to plan for the following:
- Up to 70-80% LTV (Winning bid amount)
- 10-20% Down of Purchase Price
- Lending Fees up to $1000
- 12-18% per annum (APR)
- Three to six month notes
- Monthly interest payments
- Some previous knowledge and experience with investment real estate
As stated under the Place a Bid section, include in the notes whether hard money is required. If your bid is successful, our office will contact the lenders and provide them with the following information:
- Information regarding the property purchase
- Property address
- Purchase price
- Trustee sale number
- Lot legal
- Tax parcel
- Buyer address
- Buyer phone
- Buyer email
- Any LLC documents if vesting in a company name
- EIN or Social Security number
Buy Low Pro Benefits
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Daily Auction List
What We Do
uy Low AZ provides its pro members with a list of all the homes going to auction. We narrow down the list as much as we can, avoiding the 80% postponements in order to save you time. Our professionals select the best investments and provide our pro members with that list. Our pro members also receive market analysis and comparable properties. These are for you to better understand what current market retail value is for each individual property.
Pro Member Access
All of our pro members have access to a feed of accurate and up to date property list.
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Buy Low Pro
Get access to our extensive database, and take a virtual tour of all our properties before you bid. Do this from the comfort of your home. Buy Low Pro members get total access to all our extensive drive reports, giving you the satisfaction of knowing what it is you are bidding on.
- Instant Access
- Detailed Pictures
- Property Information
- Virtual Tours
Drop Bid Alerts
What is a Drop Bid?
A property that appears on the list to go to auction that was not previously seen, it’s an opportunity. Our full time staff works around the clock 24/7. When the list comes to you the night before the auction, there are more available properties than what is listed. There will be properties that appear throughout the night and during the auction. Buy Low AZ is where you will turn to see the latest Drop Bids.
Organize Your Troops
Once you become a member, you have many avenues that you can utilize in order to bid on the property that you want. Our staff is waiting at auction floor in order to bid for you. Pro Members can take advantage of our website and bid from the members login, email, or text your representative directly. Our staff will represent your future investment ,guaranteeing you the best price possible.