Updated over 6 years ago on . Most recent reply
Help on Auction.com!
I’m currently considering buying a property from Auction.com. It is a vacant 3 bedroom 2 bath townhouse that looks to be in fairly good shape (I peeked in a couple windows.) The bidding starts at $17k and it seems like a complete steal considering the fact that every other house on the block sold for 70k or more. I felt those houses would make good comps since they are all on the same street and look pretty much identical to one another.
I’m aware that there may be other liens on the property that I am unaware of at the moment. But other than that, are there any other potential drawbacks that I am not considering. The deal sounds almost to good to be true if the only catch is that I must pay cash and possibly take care of some liens.
Most Popular Reply
Hate to burst your bubble.....there is a zero percent chance it will go for 17,000. Auction.com uses ghost bids to drive the price up, so even if you are the only interested party that is nowhere near where the price will end up.