Auction.com tactics. What is this BS??

[Joel Owens]

So I haven't bought at the Auction forever. I was thinking buy a few cash and resell regularly for a quick profit.

Reading the fine print used to back in the day there was a reserve but if you only bid and they started at 20,000 and you ended at 40k then even though the reserve wasn't met they would send to the seller for consideration to accept or counter.

Now there is possible counter bidding on behalf of the seller but you do not know if it's the seller ( auction company) or a real buyer. This is total BS and price fixing. They call it illegal when buyers do this kind of stuff but it's okay apparently for Auction.com to play these games.

I think I might not even bid now if this is the kind of stuff they are doing.

[Joel Owens]

Yeah I also noticed and this is the biggest thing for me that many of these auctions it lists the property as occupied and not to approach it.

I would assume these are the homeowners who have been foreclosed on. The banks are trying to sell off a problem at a premium. You can't assess damage fully and you might have a mess getting them out. It could take one month or six months to get them out of the place. GA is pretty straightforward.

I would have to buy it pretty low to compensate for that aggravation as for selling the longer I have to wait to resell the return goes down due to time.