Auction.com information please

[Mark Vandzura]

I'm looking for information about buying from auction.com. I've seen a few properties listed on Zillow that are being sold by auction.com. Just wondering if anyone can tell me their experiences, good or bad with buying at auction. Thanks

[Helen Kirk]

I bought a foreclosure at our county courthouse steps that Auction.com conducted in late November 2016.  It took about 2 weeks to actually receive the deed, but it turned out to be a great deal.  The house was occupied by tenants, which will remain.  They are Section 8 tenants, but have been there for 12 years, and both the local housing authority and the current property manager say that they have been great tenants.  There are no repairs that need to be done at this point.  The previous owners actually paid the taxes after the auction, which surprised me, so since the December rents have already been sent, I'm not going to dispute that.  My rents will begin Jan 1st.  My only concern is whether or not to keep the current property management in place, as they want 12%.  In my opinion, that seems a bit high.  Anyway, this was my first purchase using Auction.com, and there were no problems.