FDIC Auction Home Buying Course
FDIC Auction Home Buying – Step-by-Step Video Guide
What Is an FDIC Property Sale?
What’s the FDIC?
The FDIC is a government agency that takes over banks when they fail.
What happens when a bank fails?
The FDIC sells the bank’s stuff including houses and buildings to get back money.
Why should you care?
You can buy these homes at a discount through public auctions.
How to Register
Fill Out the “Prospective Bidder Form”
- Go to the FDIC Asset Sales website
- Find the “Prospective Bidder Information Form”
- Fill in your name, contact info, and answer a few questions
- Submit the form online
- After you submit, the FDIC will review your info
- If approved, you’ll get emails about upcoming property sales
Prove You’re Eligible
Fill Out the “Purchaser Eligibility Certification”
- This is a short form that says you’re allowed to buy from the FDIC
- You’ll confirm you’re not banned from buying government property
- You’ll agree to follow the rules
Submit the Form
- Upload it to the FDIC website or send it to the advisor they assign you
How the Auctions Work
Step 1: Get an Advisor
- The FDIC will connect you with a loan sale advisor
- This person will send you emails about homes for sale
Step 2: Place Your Bid
- You’ll get a list of homes and a deadline
- Choose a home and submit your bid online
- Wait to see if you win
Step 3: Joint Ventures (Optional)
- Sometimes, you can partner with the FDIC to buy a home together
- This is called a “joint venture” you both own part of the home
Important: All Homes Are Sold “As-Is”
- That means no repairs, no refunds
- You buy it in the condition it’s in so do your homework
Money You’ll Need
Step 1: Pay a Deposit
- Before bidding, you may need to pay a deposit
- Usually 5% to 10% of your bid amount
Step 2: Pay the Full Price
- If you win, you must pay the full price within 30 days
- No payment = you lose the home
Step 3: Budget for Extra Costs
- You’ll also need money for:
- Property taxes
- Legal fees
- Repairs (if needed)
Watch the Calendar
Step 1: Check the FDIC Website
- Go to https://www.fdic.gov/asset-sales
- Look for sale dates and deadlines
Step 2: Read Your Emails
- Your advisor will email you when new homes are available
- Don’t miss the deadlines they are strict!
Final Tips
- Always read the fine print
- Ask questions if you’re unsure
- Only bid if you’re ready to pay
- Use the FDIC website to research properties
- Keep track of deadlines
You’re Ready!
Buying a home from the FDIC is easier than you think.
Just follow the steps, stay organized, and take action.
Visit FDIC Asset Sales Pages
Access Checklist