Plano, TX · Member since 2012 · 43 posts · 10 votes
Has anyone ever used www.auction.com? It appears to be another way to purchase properties but it seems to have more risk than even from a wholesaler with no chance to view the properties. Has anyone used this organization before?
thanks
I've used Auction.com, hudsonandmarshall.com and williamsauction.com all before. Bought several from hudson, and one from each of the others. 95% of the time, these are still listed on MLS, the bank is just 'trying' an alternate disposition strategy, so you can still set showings and SEE the property. All of my deals were made BEFORE auction, or right when they fell out of contract with an auction buyer. I've never been to the actual auction, and prefer to make my deals before or after the auction.
I've bought several properties from Auction.com over the last few years. They were REOS and my agent always showed them to me first.
But around here at least it seems different now. They have deals with many of the counties around Atlanta and are conducting the 'courthouse steps' foreclosure auctions so I imagine it would be hard to see the inside because the people being foreclosed on are still living there.
I am considering bidding on a property at Auction.com. My question is... Is there any concerns with these as it relates to liens? Does the bank have to satisfy the liens as a part of the transaction, or better stated do I have any risk related to existing liens with buying through this?