Auction on site by real estate broker?

[Jung-woong Han]

Hi my name is Han and I am totally new to real estate investment.

I was inspired by Lisa Phillips so was looking for property less than 30k at realtor.com.
I found property that says 15k and it says it is auction at site with 2500 cashiers check deposit.
Here is link http://www.realtor.com/realestateandhomes-detail/6...

My question is do you have experience about this kind auction? How did it go? 

I just want to know overall experience.

Also what do you think about this deal?

Thanks.

[Ned Carey]

@Jung-woong Han There is nothing wrong with getting your real estate license. However you are not likely to learn much about investing by having a license.  You can learn a lot about investing here on BP.  You might want to start with the Ultimate Free Beginners Guide under the education tab above.

The price in most auction listings is simply the suggested starting bid. Often the buyer has set a "reserve price" that is higher than the list amount and the owner does not have to sell unless it meets his or her reserve price.  There are several auction companies in the Baltimore area including one owned by Charles Parrish.