How accurate are the property valuations on auction.com?

Question

Hello all,

Currently looking at properties in my area on auction.com, I am looking to rehab and subsequently resell at least two properties by the end of this year and there are a few on auction.com that have caught my attention. My main concern is how accurate the valuation figures are. I've seen properties that are starting at 150k yet are valued at 270-300k. This seems almost absurd in today's market. Furthermore, I found it slightly bizarre that auction.com doesn't require any fees for users of the website to access this info. So could anyone verify whether or not the property valuation figures in the 'property information' section on auction.com are accurate? Moreover, is it a reliable website to use when looking for good flipping deals?

Thank you in advance.

Scott Rogers · Answer

valuation is part of your due diligents.  use multiple sources including your counties tax commission site (which you also need to check the house is current on taxes) and recently sold comps. As well as potential repairs and rehab costs to bring it to marketable condition.Auction.com is a reliable website and a good source for flips.  However you will have competition and quite a bit of it for a good deal. And you better have Cash and or some creative financing available because you typically will not have time for a conventional loan and still make their time line to close.