Auctions

[Valerie Chao]

Has anyone had success buying at auction ? 

My flipper clients say the prices are too high and they always get postponed 

[Account Closed]

AS an auctioneer - we sell a little over 200 properties a year - I am always amazed at some of the bargains that are had - I often wonder -WHY didn't  I buy this house?

We do mostly RESERVE auctions - the seller may give us his reserve number - but auction time he may take 20-40% less.

We do all of auction sales on site - in front of the building.

I am also surprised when a property sells for way more than the reserve - (when two bidders go head to head trying to out bid the other - this is called auction fever).

• Get your name on all of the auction companies mailing list -
• Don't bid unless you have had a opportunity to inspect the building
• Always do your comps and try to talk to the seller before the sale
• Have you money ready
• Meet other bidder at the sale - make friends - collect cards - learn from them
• Have fun - be on the streets daily - get serious about your business

Charlie --