Auction

4 Replies

Is any one has experience bidding homes with auction.com

Are they good... They want $2500 deposit charged your credit card account..

hi moh. yes, i have experience with bidding on auction.com. they are ok. i hate to have to do the $2500 deposit too, but i guess that is their way of weeding out the not so serious buyers. i bought one house from them and didn't have any issues with closing. hubzu.com, however, are a major pain in the *** to deal with. i wouldn't buy a house from their site for a buck. even my attorney said to never buy a house from them. we attempted to buy one once and they were, in my lawyers words, " the biggest pain in the *** that i have ever dealt with". auction.com is much, much better

Disclosure: I am an auctioneer no relationship with auction.com

Originally posted by @Moh Said :

Is any one has experience bidding homes with auction.com

Are they good... They want $2500 deposit charged your credit card account..

 They do not represent investors, only lender.....offering properties for banks that are in foreclosure. Do your due diligences,  very important to know what ur bidding on, inspect the property.  

There are times when the owner in foreclosure will cause problems to the house he is about to be evicted from; cement in the toilet, crossing electrical,wires, blocking the waste vent pipe...etc. discovering these problem and making an offer to the lender with pictures and a contractors inspection report will help the investor acquire the REO.

Charles

@Charles Parrish ,

If there is a multifamily property that is already occupied, with the Auction House typically allow the bidders to perform an inspection prior to the auction?

No inspections if occupied 

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