Neophyte there is absolutely nothing wrong with attending the trustee sale and learning how the process runs. Just remember, you are swimming with the sharks. There are more then a few experts who have made ALOT of money attending trustee sales and procurring property. These guys do the homework and have pretty strong resources to make sure that they are not buying a turd. Even with that, every now and then they get stuck with a turd anyways.
So the reality is, if you are very serious about the process, you should attend them, see how they work and check it out. Like anything else, you CAN find a good deal, but it is not like, okay I will find a home, get it at the trustee sale and walk away with a bargain.
Real professionals find homes in distress, contact the owners, and try to get the home before it goes to auction. Again, it is alot of legwork, alot of time and energy but that is where bargains are had. You can learn about the home, check it out, get inspections done, etc… You pick and choose homes that have decent equity… yada yada… Again, it takes more work then just saying I am gonna go to a trustee sale and find the home. However if you are serious about it, then yeah you may find a good bargain. Just don’t limit yourself to going to the auctions.
