Any experiences buying properties using on-line auction

[Anish Arora]

Hi All,

Can anyone share their experiences buying houses using auction.com, hubzu.com, xome.com for SFR in bay area?

I was thinking of using BRRRR here in bay area.

Thanks,

Anish

[Jeff Weaver]

I have purchased 3 with Auction.com in Michigan. All were easy. All were viewed only from the outside and 1 was occupied. 2 of the 3 were great deals I could have flipped but I typically buy and hold so I kept them. When they called and asked for a higher bid I held firm.

I had no agent and all cash. Closing was by email and wire. Had the originals notarized and FedEx back. Never got keys so just drilled out the locks. The occupied home I left a note on the door left for Belize came back and they were gone. I made $70 k in 2 years on that one.

I'll do it again.

Jeff