Updated about 8 years ago on . Most recent reply
Auction.com
Wow, I'm dealing with Auction.com on one of their real estate wonders and I just have to shake my head. They want me to sign a contract without a legal description! The representative claims most of their deals don't have one in the contract....... Dealing with them is shady enough, but this one takes the cake. Of course it's a Nationstar property......No legal, no deal......
Most Popular Reply
"Know before you go"! As an auctioneer, I cannot stress this enough. The auction terms and conditions are the playbook for the deal. Many are client specific and can change from property to property, even within the same auction company. i.e. one property may have a warranty deed and the property next in line may be offered with a quit claim deed. Don't assume anything. Read and completely understand the auction terms and conditions for each property. If an item is vague or not specified, ask questions before placing a bid. Additionally, read the "auction site" terms and conditions. This usually provides information on whether the sale is with reserve or absolute, and who has the right to bid against you. I think most auctioneer's try to do a good job in providing accurate information and disclosures, but auctions are like any other real estate transaction, due diligence is a must!