Types of Property Auctions
Different auction types offer unique opportunities and risk profiles.
Foreclosure Auctions
Held first Monday of every month at Catawba County Courthouse steps (Newton, NC). Cash-only sales with properties sold "as-is" to highest bidder. Best opportunities for deep discounts.
Tax Deed Sales
Properties seized for unpaid property taxes sold at public auction. Less frequent but offer significant discounts. Require research on back taxes and liens before bidding.
Online Auctions
Bank-owned REO properties sold through online auction platforms (Auction.com, Hubzu). Safer than courthouse with inspections allowed, but typically less discount.
Auction Investment Services
Expert support to maximize success and minimize risks at property auctions.
Pre-Auction Research
Property title searches, lien analysis, tax status verification, and comparable sales research to determine true value and maximum bid limits before auction day.
Property Assessment
Drive-by property condition analysis, neighborhood evaluation, repair cost estimates, and ARV calculations to ensure profitable auction purchases.
Bidding Strategy
Maximum bid calculations, competitive bidding tactics, and auction day representation to help you win desirable properties at profitable prices.
Cash Funding
Hard money lender connections for immediate cash funding, proof of funds documentation, and post-auction permanent financing options for successful bids.
Post-Auction Support
Title clearing, eviction assistance if needed, contractor coordination for repairs, and exit strategy execution (flip, rent, or wholesale).
Education & Training
Auction process education, courthouse auction attendance, risk mitigation strategies, and ongoing mentorship for first-time auction investors.
Courthouse Auction Process
Step-by-step guide to buying property at Catawba County foreclosure auctions.
Find Auction Properties
Check Catawba County foreclosure listings published 3 weeks before auction (first Monday of month). Properties listed in Hickory Daily Record and online foreclosure databases.
Research Properties
Title search at Register of Deeds, property tax status check, drive-by inspection, comparable sales analysis, and calculate maximum bid (ARV minus repairs minus profit margin).
Secure Funding
Arrange cash or hard money funding BEFORE auction day. Winning bidder must pay 5% deposit immediately and remaining balance within 30 days. No traditional financing available for foreclosure auctions.
Attend Auction
Arrive at Newton courthouse steps (329 E Court St) by 10:00 AM first Monday. Auctioneer calls each property. Bid only up to your maximum. Winning bidder pays 5% deposit and signs purchase agreement.
Close Within 30 Days
Pay remaining balance within 30 days to avoid losing deposit. Handle any title issues, obtain possession of property (evict if necessary), and begin your investment strategy.
Auction Success Tips
Best Practices
- ✓Always research title and liens before bidding
- ✓Drive by property multiple times before auction
- ✓Set maximum bid and DO NOT exceed it emotionally
- ✓Bring cash or certified check for 5% deposit
- ✓Have cash funding secured before bidding
Common Mistakes
- ✗Bidding without title research (hidden liens)
- ✗Not having cash funding arranged before auction
- ✗Exceeding maximum bid due to competitive excitement
- ✗Underestimating repair costs on distressed properties
- ✗Not planning for eviction if property is occupied
Master Property Auctions
Let Lisa J. Smith guide you through the complex auction process in Catawba County. With over 10 years of local expertise and $35M+ in career sales, she can help you find profitable auction opportunities while avoiding costly mistakes that trap inexperienced investors.