"People that have been priced out of the market, people that are like, 'I can never by a home,' well guess what? Now they can," said Trent Ferris with REDC auction company.
About 300 Northern California homes will be auctioned off this weekend. Homes that were once out of reach for buyers are now on the auction block for a fraction of the cost.
"I've been renting for a long time so I'm interested in buying a home. Just so you feel more secure that you have something. It sounds exciting," said Karin Weller, an interested first-time homebuyer.
The homes are sold "as is" and on-site financing is available. Experts say an informed buyer is a smart buyer, so do your research.
"If you walk in to buy a home, you better know what that home is worth to you," said Ferris.
Interested buyers should bring a $5,000 cashier's check payable to themselves, a personal check for any extra costs, and a valid photo I.D. to the auction. To make the process move more quickly, buyers are recommended to also bring the last two years tax returns and W-2 forms, as well as one month's worth of pay stubs.
Saturday's auction will be held at the Memorial Auditorium in Stockton. Sunday's auction will be held at Cal Expo in Sacramento. Registration begins at 8:00 a.m.
