Xome.com Auction site

1 Reply

Has anyone had any success using XOME.com auctions site? I never used it, it seems pretty straight forward but I'm a little hesitant to believe it is as easy as it seems. Any info on how the site works would be helpful. 

Thanks 

I've bought a couple of houses from XOME.com, formerly homesearch.com (you could search that too). It's my favorite of the various auction sites I've dealt with. For one thing, it's the only one (in my experience of course) that my winning bid is actually the price I pay, even when it's below the reserve.

Other sites I've tried are auction.com, williamsandwilliams.com, hudsonandmarshall.com and hubzu.com. Of these, hubzu and xome are the only ones I was ever able to actually purchase on. With hubzu, every time I bought I had to accept a counteroffer which was higher than my "winning" bid.

I'd imaging you will find xome's process pretty straightforward, especially if you're a realtor. You will need to submit proof of funds after accepting the contract (at least for cash deals). As per the site, they can use an "auctioneer" to bid up the prices themselves, and at least once I was contacted after losing and was offered the property at the last price I bid.

Hope that helps!

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