Dallas-Fort Worth Real Estate Investor Club

I was doing some research on a property in my neighborhood and discovered it was owned by the City of Fort Worth.  I called the city to find out how I can make an offer and they sent an entire packet I have to submit in order to place a bid.   Anybody have any experience with this sort of buying? 

I am working on a property owned by the City of Dallas now.  In Dallas, they have a sealed bid process.  We are on a mailing list so that we get several weeks notice prior to the window of time in which the property can be bid on. 

Evidentally they do this every few months, when they have a group of properties ready to sell.  From what I know, if you are the highest bid, you have 3 week to purchase the property, with another 3 week extension if needed.  They require a 10% EM check, which is returned if you are not the winning bid.

I would love to hear what you find out about the City of Fort Worth.  My guess is that each city does it a little differently.  If you like the thrill of the hunt, this is definitely one of those situations.