AUCTION.COM IN NEWARK

[Anne Williams]

Hello everyone,

I'm interested in buying a home to live in that I see on auction.com. I have tried looking on the market but nothing really suits me ...but this property is exactly what I am looking for.

I do understand though that these properties require all cash. Is the reserve for a condo usually very high? Is it pretty close to market price? The property Im looking at is worth around $160,000 on the market. How close would the reserve be to that price?

I have always heard about these auctions for Essex County but wasnt sure if they would be worth the hassle. Furthermore, the property I'm looking at is occupied. How much of a headache would it be to remove the tenants based on the guidelines in Essex county?

[Michael G.]

Best of luck! I recently purchased a home on a auction website (not auction.com, but more of a Hubzu equivalent). Home was delivered with clean title! I would warn against the "games" websites like this play; for example what appears to be automatic bidding and other disingenuous actions.

as per the gentleman who stated Newark is a "warzone", I have to disagree. The city does have its rough patches, but to offer such an absolute statement and insinuating the entirety of the city is a "warzone" is just incorrect. Research and knowledge of the areas will serve you right!