6.30.09
You will need to register with REDC to attend one of their auctions. Registering is free and easily accomplished by using the online registration form.

REDC may change the starting bid or information about particular properties and the best way to keep up with any changes is to check back with the website regularly. As an example, the property I was interested in was first listed as having a starting bid of $39,000 that changed two days before the auction to $19,000.

I had a few questions about the process so I reached out to REDC by email and by phone. An email response took 2 days and the phone call took 30 seconds to get a live person with answers. Both of these interactions with REDC were professional and my questions were answered. From start to finish I have been impressed with REDC's high level of customer service!

Now is the time to formulate a plan in your mind with stops so you do not get caught up in the excitement of the auction process. Also, you need to keep in mind after a winning big the buyer owes a "Buyer's Premium" to REDC that adds $2500 or 5% whichever is larger to the total purchase price.

In addition, now is the time to find financing options. REDC has affiliations with lenders who are familiar with the auction and the website will tell you if a property qualifies for lending or not. If the property does qualify for lending then you need to qualify with the lender before the day of the auction. Click here for REDC financing information.

Next post will have information about what to expect on auction day.

More Blogs on REDC Auction
REDC Results and My Opinions
Day of REDC Auction in Reno
Days Leading to REDC Auction
REDC Foreclosure Auction