John and I get asked the question almost daily from our Tampa real estate buyers, from luxury homes to investment property, "We really want a DEAL on a foreclosure...should we be going to the auction to get the best deal?"

The answer to that question is more complex than you might think. For a few willing to put in the hours and weeks of time and research, and the tolerance to put up with the potential frustration of homes coming off the table at the last moment, the answer might be yes. For others, once they understand what it entails, the answer is a resounding NO WAY!

I came across this article in Saturday, July 4th's St. Petersburg Times that explores the issues surrounding buying property at auction, and the obstacles to overcome. If you've ever wondered if you should be going to the auction to buy foreclosure investment property, reading this article would be a good start for your research. Decide for yourself. If you want to avoid the potential pitfalls mentioned in this article, you will probably decide to enlist the help of a professional Buyer's Agent, whose services are customarily paid by the Sellers.

To read the article, go to http://www.tampabay.com/features/homeandgarden/article1015010.ece.