Williams & Williams Auction Rejects High Bid Again

47 posts by 32 users

Wayne Brooks

from West Palm Beach, Florida

Feb 16 '13, 03:04 PM

The auction site should tell you, somewhere, if your getting a QCD, and what else is covered/not covered.

Stanley Crawford

Real Estate Investor from Ivor, Virginia

Feb 18 '13, 08:53 AM

Yes read the terms for that auction. As long as it is not an occupied property you should get an insurable title. PM me if I can help.

Dan V.

Contractor from Illinois

Feb 18 '13, 03:01 PM

The price on this house I was pursuing has now exceeded what I wanted to pay.
@Stanley Crawford if I see another house on W&W that I may want to purchase, I'll certainly contact you. Thank you for the offer of help.

David Niles

from Buffalo, New York

Feb 18 '13, 04:28 PM

I have dealt with W&W several times, 2 were accepted, 2 rejected, just nature of the game. Auction also clearly states the high bidder fees that you will pay so nobody should be complaining about those, dont bid if you dont want to pay them.

Jacob Evans

Rehabber from Spokane, Washington

Feb 22 '13, 06:29 PM

I purchased 3 W&W properties in early 2012 and all of my bids were accepted. It likely just depends on how much the highest bid was for and what the minimum the seller is willing to take.

If you get another one rejected I'd suggest trying to immediately negotiate through the W&W rep to see if they'll accept a slightly higher offer from you. W&W wants to sell the house so they get a commission, the seller obviously wants to liquidate and you're a potential buyer. Might as well try to work a deal.

Al Cassidy

from Kailua, Hawaii

May 20 '13, 01:54 AM

I put a winning bid at an auction. They approved the offer, and took my deposit of 36,000. After getting loan approvals, appraisal, inspections, elevation certificate and food insurance I am out 39,000. When lender ask for proof of right to sell they call two weeks after saying they can not sell it and are under breach of contract. At these auctions they do not let you see the contract before and after you bid they have you sign your rights away. Basically you can never back out, but they can back out at any time. You can not even take them to court to sue. Very bad these guys are allowed to do this. I also learned that before they told me about the active suit on the house they put it back on the market at 920,000 -- I won the bid at 700,000. So we know the real reason they backed out. They basically are lying to me they put it back on the market and not selling to me.

Aaron Mazzrillo

Investor from Riverside, California

May 20 '13, 02:01 AM

I just closed a deal with them at 25% of ARV. It took way longer than expected, but no complaints. Looking forward to making more bids soon.

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