Anyone ever buy property at a county courthouse step auction in Texas?

No, but I'd sure be interested to know how it turns out. I've heard that the rules of real estate buying are different in that situation.

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Can't say I have,
but this might help you.
http://www.window.state.tx.us/taxinfo/proptax/law04/index.htm

I'm getting a couple of differing answers regarding obtaining a "clear" deed on property that has been foreclosed. My attempts in a deed search at the local county clerks office was a bit... vague.

I'll either end up with a good deal or another debt.

I guess I'll find out...

Look for a clause that says to what liens the sale is subject. I have never looked into this in TX but I have given it a casual once-over in some other states. After the sale you may owe back taxes, the mortgages, etc. Find out before you bid.

Carefull buying forclosures. Depending on who is doing the forclosing there may be other creditors in line. Around here especialy if its a mortgage default the bank usualy buys them. They don't want to lose there money, and if they hold the first mortgage they can afford to bid the highest. FMV usualy.

I know guys who literaly buy hundreds of properties this way a year, some people really like and it know how to find the deals.

Oh one last thing, depending on state laws the previous owner may have a redemption period.

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2007 Tiara 3200

yeah, there is a redemption period here.

i haven't done it but i know folks who do.

tom w

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..I also have a 427 Cobra replica with an aluminum chassis.

Well, it was an interesting day. Beautiful 70 degree weather created a bidding frenzy.

I found no deals today. Lots to learn...

When I left I saw a guy with a nice '85 300D. Ask him if it was for sale and I hear him say " yes, sixteen hundred". I'm thinking I found a deal, look the car over and as I am about to pull out the cash he repeats the amount.

"Sixty five hundred".

Huh???

He found a live one was trying to make an extra few bucks!

I know guys who like pre-forclosures, I have never really looked into this area of REI.

__________________
1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200