Auction . Com foreclosure questions

[William Coet]

Hello,

Have not bid on an auction . com foreclosure auction and have a few questions.

1. Is there a way to determine what the reserve is?

2.If it doesn't meet the reserve, what happens with the property?

3.One website called realtytrac shows the property having a "transfer value" of $93,000.  What does this mean?  Is this the price the bank bid at the foreclosure auction?

Any other comments about bidding on auction. com would be appreciated.

Thanks in Advance for any help,

Bill

[Evan Hutchins]

@Lynnette E.

My wife and I bought a house off auction.com last summer. We 'won' the auction 3 different times before they actually signed a contract to sell with us. The auction haf not met the reserve and they simply put the auction back on the following week and we bid again, we didnt raise out max bid but it appeared that the bank lowered their reserve as the weeks went by. It can be a frustrating experience but keep it non emotional and stick to your numbers! It doesnt always work out but if your patient it may!