Posted by Tim (Atlanta) on April 19, 1999 at 07:46:12:
Personally, I attended 3 foreclosure auctions at my county courthouse before I bid on the first property. This will give you an idea who the real players in your area are.
As far as a bidding strategy, you must determine what you believe is a good price for the property first. Do not get caught up in the bidding process and overpay for a property. Don’t be the first person to bid, unless noone else is going to bid. When you are bidding against an “opponent”, always reply quickly and confidently. If you hesitate, your opponent will sense that he is getting close to your top dollar and will bid higher. Once you reach your top bid, STOP. There will always be another deal later, and you can try again then.
Just my .02