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- [Auctioneer] All right, ladies and gentlemen, lets get her going here. Start me off where to bid to go, have I got $1,000 to open it up? - [Ted] For sale by owner, this is the process. Welcome back. Lots of people want to sell their property and they wanna save 5 or 6%. So what happens? They become a for sale by owner. And thats what were gonna talk about because a lot of people dont want to pay the broker a commission so they become for sale by owner, FSBO. All right, thats not unusual. All of you have seen the signs. Sounds easy, its not easy, I can assure you. Now, my name is Ted Thomas. Ive been involved in real estate, not the traditional real estate, for the past 30 years. Now my expertise is in a subset of the traditional real estate. So I view everything through that lens. Now, these properties that Im gonna talk about are tax defaulted property. Now, what is a tax defaulted property? Its the same as traditional real estate where it might be homes, could be vacant re