Updated over 10 years ago on .
Auction.com
Had a couple of questions about Auction.com, I have been browsing it for a couple of months, making inquiries here and there.
On Properties: It seems like or a lot of properties you are buying them site unseen. I have even made an inquiry about rent rolls and been told they're unavailable. I was wondering if people have had similar experiences and how did you bid without being able to inspect the property or see financial statements? I have read a couple of posts on here where people will win a bid then off the tenants cash to move out. What is the logic there? Unless the tenants are not paying or the rent is severely underpriced?
On Notes: I have seen a couple of note auctions as well for MF and Commercial property. One that strikes me route now has tenants that are current, but somehow the Note is in receivership. Do people who purchase these notes hope to foreclose or refinance?