Auction.com “Redemption period”

3 Replies

Hi,

I have been looking at auction.com to purchase a few REO properties but am confused why the section "subject to redemption" says yes.

I though that in some states foreclosure sales have a redemption period but the banks typically wait out the redemption period before trying to sell those. Is this not true?

I have checked in multiple states and went through a lot of REO property listings and they all have a "yes" next to the subject to redemption section .

Is there any difference between the REO property on MLS and Auctions.com?

Thank you so much for taking the time to help with the answer.

@Rahul Gupta I can only tell you my own experience but I'm currently in the process of buying a home through a different auction website (Hudson and Marshall) and yes they waited out the redemption period (which is 30 days in my state) and only after that, they listed the house for sale. So far i am having an excellent experience with HM I highly recommend them. Will make a YouTube video about it once it's all settled and done.

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Thank you, Lynne! That saves me a lot of time. We are investors who thought of using auction.com but your reply made me think why you would look at other auction sites. I did some research and came across multiple posts indicating that Auction.com is not the best platform.

Specially https://www.biggerpockets.com/... . Gonna save my time and others in my network by staying away from auction.com.

Thanks again

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