Bank Owned Home Auctions!!! Don't be late!

I just returned from attending an auction for a bank owned home in San Jose and it was quite an experience. Basically, it was a bunch of bargain hunters gathered in a small cul-de-sac in front of the home being auctioned. There were a total of 3 different homes being auctioned.

The auctioneers were working out of the back of their trunk handing out registration cards and bright yellow bid cards. With a karaoke style microphone and an over the shoulder speaker, the auctioneer started the fast paced bidding lingo at 50K and within 10 minutes all the homes were auctioned off and everyone cleared out. There were 2 crawlers making sure no one got left out of the bidding, screaming "ohhh" " aah" everytime someones card went up. Crazy! If you were late you lost out. CLICK HERE TO SEE PHOTO.

I have more info on how these auctions work so ping me if you have questions. Don't forget your checkbook if you go to one of these. They won't let you bid without it.