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Updated over 7 years ago on . Most recent reply

User Stats

243
Posts
108
Votes
Moshe H.
  • Rental Property Investor
  • Ramapo, NY
108
Votes |
243
Posts

Auction.com - circumventing auction process

Moshe H.
  • Rental Property Investor
  • Ramapo, NY
Posted

I've been bidding on the same property with no competition for about 4 bidding cycles on auction.com. The in-house counter-bid keeps winning because I'm not bidding up to the reserve, and they keep putting it back up for auction over and over. I've read elsewhere that if you're the only bidder several times and you don't meet the reserve, Auction.com may contact you to negotiate a sale below the reserve. That has not happened to me.

I would like to talk to a real person and suggest we come to an agreement. I have a few arguments as to why their reserve is too high and it's obvious there is no real competition here, I'm the only one in this (rural) area with the cash and desire to buy it. I'm not sure who to reach out to - the property looks like it's owned by Citibank so I assume no one there is going to give me the time of day, but maybe I can talk to someone at Auction.com. Has anyone done this before, successfully or not?

Thanks!

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