All Forum Posts by: Raji Kaur

Im working on a fix and flip in Waukegan. I am new to the Chicago area so dont know too much but getting to know Waukegan. If you're dealing in that area, let me know. I can put you in touch with a great contractor. All the best to you.

@Ana N. Woohoo. Congrats lady. I cant make it next week but we'll toast one of these days to an awesome job. All that hard work paid off. On to the next one!!!

@Ana N. I was going to be there but I play softball Tuesdays and today was our last game but it got cancelled due to rain. So the final games are next Tuesday now. I'm bummed I wont be able to attend this meetup. We should catch up soon. Have fun

Hey Kevin. @Ana N. is another contact for a wholesaler. Good luck

@Brie Schmidt Thats true but there was also the $2500 "fee" so close to 34K total.

@Cal C. On this deal the seller and buyer split the title cost, which was about $650 on my end, another $35 processing fee, and this was a cash deal so no lender costs or anything. So that was it

@Marcin Jurkun Welcome Marcin - I myself am a newbie in Chicago and just closed on my first house. I totally understand about pulling that trigger - you want to do it but just not sure when the time is right or the deal is right. But as a lot of people here will tell you, until you actually do it, you will just keep wondering. There's definitely a LOT of information here and the people are great and very helpful. Good luck to you

@Account Closed Hey Adam - glad to hear something positive about them. I myself just closed on a house from auction.com and all in all, it went smooth. Lucky for me, there were no liens on the house and I was even credited for unpaid taxes. I didn't like that they included the fee ($2500 deposit) as part of the final sales price, but oh well. You do ahve to be careful and read the documents they post online and preview the property as most of them are lsited on the MLS. And my home was also unoccupied. I don't think I could deal with kicking someone out of their home. But I hope I end up doing as well as you did on your deal :-)

Thanks guys. I wasn't as careful as I should have been but this time it worked out ok.Definitely learned a few things

@Brie Schmidt The last listing had it for about 40K on the MLS and I went as far as 31K and ended up getting it at that price. It was bank owned home. Turns out the rehab cost is right about where I want to be, even keeping a little extra for the unexpected costs. I will update the group on my first overall experience.

Hey Guys - I'm a newbie and decided to try auction.com. Thought I'd share my experience. I bid on a few properties and ended up with the highest bid on a 3/1 SFH in a suburb of Chicago. I am not sure if there was shill bidding involved or not, but towards the end of the auction there were a couple of bids placed. But even in Ebay auctions that happens. And I myself was watching and bidding last minute so I'll never know. My "offer" was submitted to the seller and they get upto 15 days to respond. They accepted about 10 days later and to make a long story short, I closed on the house last week and it went very smooth. There were no liens on the house and the bank even credited me for unpaid 2013 taxes and 2014 taxes upto this month which was a bonus to me. Some things I learned, mostly through my incompetence and inexperience :-)

-This house WAS on the MLS and most of the auction.com homes are listed. Although they advertise "bid before its listed on MLS" - I checked the address online and saw old listings and assumed it wasn't currenly listed. So I looked at the house from outside but didn't go inside. I could have previewed the inside had I paid more attention.

-Auction.com usually always has a reserved price. But I was called on an auction I lost and offered to buy the house at my last bid because the winning bidder didn't go through. Who knows if that part was true.

- 5% of the total purchase price or $2,500 (whichever is greater) is required when you buy the house, its a fee for auction.com basically. And this DOES NOT go towards the final purchase. That was my misunderstanding.

-Unfortunately, the final sales price shown Includes the deposit/fee that they take upfront. Which mispresents the market value and affects comps, but thats just how they do it and are allowed to do this.

-They do post purchase agreement docs, addendums, and any other related documents on the auction page, at the bottom of each listing.

-All the signing is done online and their customer service was easy to deal with and helped me along the process.

Overall - I'm satisfied. I got the keys from the lsiting agent the day after closing and already found a contractor to fix up the place. I would consider it again as another way of finding a deal.

I will try to come but have to meet my contractor in Waukegan in the evening..depends on traffic and how long things take. Otherwise, definitely will attend the next one. Thanks for putting it together again