Commercial Property Auction

[Amit Chugh]

I've been seeing some commercial apartment auctions listed on LoopNet and was wondering if they’re worth pursuing. One thing I’ve learned is that these auctions typically don’t allow independent inspections—inspection reports are provided by the seller/broker. They also require a non-refundable 10% earnest money deposit, with a strict 30-day closing window.

Additionally, most of these auctions have reserve prices, so I'm curious—what’s the real advantage of buying through this type of auction? or is anyone goes in this route? I am exploring multifamily apartment area so will appreicate advise in this?