BiggerPockets

I went to one of their auctions just for gp and it wasn't the most professional operation that I've seen. At the site, it appeared that a guy got the place with as the highest bidder, but then again I never followed up to see if he took title. Sorry to hear about your negative experience, thanks for giving us heads up. courthouse steps, trustee auctions are successful. Good Luck! -- Dawn

I'm sorry. I'm not the best at communication. "Site" meant the home being auctioned, but understandable that it would be misconstrued as meaning web"site". I should have said on the property, or at the property. My hubby is always correcting me. Thanks. -- Dawn

It almost seems pointless. They should go with an e bay structure. Reserve if the seller so chooses and once met the sale is absolute.

Hi Eric,

I haven't seen any Williams & Williams auctions in my area that are no reserve. Their website says "All auctions are subject to court or seller approval." When they say "all" this doesn't sound like some of them are no reserve, but I will keep my eye out.

By the way - I'm not giving up. I've just decided not to waste my time on Williams & Williams when there are greener pastures! Thanks.

Williams and Williams live online auction is a joke. Auction Network calls within minutes of auction end to tell me I had the high bid but there was a problem transmitting it to the auction site and that they would forward it on to see what they wanted to do. No they say, in person takes precedent. Why advertise live online and in person if they are not going to look at times bids were submitted to make a determination of the winner. At the very least , open it back up between the 2 high bidders to finish. If they could notify me that quickly, why couldn't they contact auctioneer? Smells funny to me.............

If the seller rejects the winning bid or counters and you won't accept you will get your deposit back.

The reason for non-refundable is so if you back out once being the winner and approved by the seller they want to make it painful for you. It also weeds out people doing hair brained schemes.

If that is the buyers only 2k or they have little reserves they will make sure all their ducks are in a row before bidding.

Williams is on of the auction houses but there are about 5 to 6 big ones such as them.The bidding takes place in a huge meeting area,at the subject property,or online only or both on location and online.

My experience is the prices get bid way up over a good deal to a bad deal.If the deals were that great they wouldn't need to mail me out glossy expensive magazines because the prices would sell the properties.

Many time as an REO listing broker a listing might get pulled and put up for auction as the asset manager is praying some idiot will overpay and be the winning bidder.

Once that doesn't happen they assign back to the listing broker and do a price reduction.

Some properties sell auctions but not the hype Williams and other claim.

Auctions many times are a waste.The awesome deals are when you have little competition and can whittle down the price.

Had similar experience as everyone else with these clowns. WASTE OF TIME. Don't go to the auction unless you plan on bidding 25% off the last listed retail MLS price. In the majority of cases this is no deal at all. Williams and Williams clients banks and Fannie Mae (the sellers) reject over 50% of the high bids. Don't buy an at a real estate auction unless it is an Absolute Auction. They want to get people all whipped up into a frenzy and overpay. If you get a deal that seems to good to be true it is, they will reject it.

I've got 2 properties from them, one online, one regular onsite bidding. A close friend's mom got one from them, very good price also. Have seen properties sold thru W&W for unbelievable prices, i.e. a 700K property in good condition sold (and the bank approved) for 388K. I have been overall pretty happy interacting with them. I think it is the bank causing all the grief. Just my $.02

My bid on a house through Williams and Williams was just rejected by a bank.

I now believe these auctions to be a sham: if there is a sucker bid, the bank accepts. If the bid is not a sucker bid, the bank is hoping that the high bidder will feel emotionally invested into the property and will use it as a basis for further negotiation.

In other words, these auctions are a "new age psychological marketing gimmick" and not true "let's get rid of it in three days" types of true auctions.

The last house I picked up from W&W is a 3 bed 1 bath brick house in Birmingham valued at around $32.8k. My low bid of $2500 was accepted. I figured out these auctioneers some time ago. [SOLICITATION REMOVED]