SterlingResidential.com | Buying & Selling Residential Properties in Texas | Houses for Rent Houston Area | Humble Atascocita Kingwood & Spring Texas Realtors | Sterling Residential®, Realtors® | Real Estate Broker: Tuesday's trustee and constable sales crowded with bidders -- and opportunity

Tuesday’s Harris County courthouse trustee and constable sales were quite the boisterous affair — lots of buying and selling among the hundreds of people milling about in the early afternoon. I watched as no less than 6 trustee and precinct tax auctions occurred simultaneously. The tax sales got the most attention, while some trustees called their auctions with only a few buyers standing ready to bid. Foreclosure investing is a unique opportunity requiring methodical preparation — and most of the bidders at Tuesday’s sales appeared to be well informed and prepared to buy.

The crowds have grown larger as Harris County foreclosure sales have increased in recent months — judged simply by the number of public foreclosure postings, the sales have doubled. The attached photo shows the number of clipboards containing the public foreclosure notices hung in the courthouse lobby. Last fall, there were about half that number.

The bigger crowds centered around the tax sales where most of the bidding was taking place — and some precincts were much busier than others. While standing among the registered bidders, several tax sales closed in amounts below $20,000. Sales were for cash payable at the auction. Some auctions closed without a single bid, and properties that sold often had a single bidder.

For investors interested in constable sales, there are guidelines for registration available on site — you can download a copy here. The registration guidelines explain who can register and what documentation they must present if they’re bidding on behalf of a business.

Constable sales are conducted at the Harris County Family Law Center located at 1115 Congress. Registration begins at 8:30 a.m. — no registration is required for trustee sales (foreclosure auctions). Registered bidder’s contact information is maintained at the Harris County Tax Office Website, and bidders remained registered for 12 months after their last purchase.

While several constable sales were held, there were also many trustee sales starting and ending all around the courthouse — often just a few steps from one another. The trustees simply walked up and started the auction — there was little notice or introduction. The trustees didn’t use microphones — some spoke loudly and clearly, but others were hard to hear and understand. Many of the trustees were there for awhile, having many properties to auction. Many trustee auctions were lightly attended and properties were sold back to the bank with no bids.

If you’re interested in the process, I’d suggest attending the next auction. On the first Tuesday of each month, regardless of weekends, holidays, or weather, the auctions are held at the Family Law Center at the corner of San Jacinto and Congress.