Online bidding vs live auction

9 Replies

Hello,

I’m inquiring about the upcoming auction. I saw online there is an online bidding auction and also a live auction at Jefferson County Courthouse Jan 21-26, 2018. My question is has anyone ever did online bidding? Is it almost the same as live bidding? 

Online bidding shows a starting bid amount, but the live properties don’t.

My plan is to go view the homes ASAP with a contractor to see if worth investing. However, I’d like to be somewhat prepared or know about the asking price/what type of property the homes listed on live bidding ( tax liens, bank owned, etc). 

Hello Niqque. I live in Hoover AL. Ive never been to an auction here. Im interested in real estate, but Im pretty much a newbie. Maybe we could connect one day

Hello Henry! I’m from zhoover, I live in Homewood now and I’m also a newbie just trying to be aggressive with investing now. All I know is that there’s an auction in a few days and tax sale in May.

The auction in January is just a mish-mash of surplus personal property and bank foreclosures. It's not a tax auction.

Yes I figured...ok thanks. Do they have the auctions weekly? However, I am focusing on tax lien/deed properties 

Hello my name is Ricky I'm a newbie wholesaler from Little Rock, Ar and was wondering what other proof of funds can I bring to a courthouse auction besides a cashiers check which I don't know the exact amount and they charge 5 dollars?

Hi Ricky -- good question! I think it may have been better to ask that as a stand-alone post instead of in a thread that is 11 months old, but I happened to see it so here's my comments back to you. First off, I would HIGHLY recommend going to at least one auction (if not several) before you go to one where you plan to make an offer. Each locality can have a different approach to the downpayment and many will only accept a cashiers check.  So you need to find out for your specific courthouse. Go to one and see who seems to know what they are doing. Then ask if you can ask them a question. You can also ask the person leading the auction. You can also look on a site like Auction.com to see if your local courthouse auctions are listed. If so, you will find some more info there too. Good luck!

Typically, you just bring a combination of cashier checks....if tou’re going to bid up to $20k, one for $10k, 1 for $5k, 4 for $1k, $1,000 cash, and so on.  

Thanks a lot I didn't even know where I was posting so ill keep that in mind next time and Im glad that you happen to see it! I did recently go to a live auction just to watch it was interesting I plan to start going more often.

and Wayne Brooks your right but that can get expensive unless you can safely hold the checks for up too 90 days I think

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