Auction.com Questions & Answers

I believe that the average potential buyer does not do their DUE diligence AHEAD of time. I first, read all the documents attached to the property I was interested in. Second, I drove by the property to check things out. Third, I went to the county recording office to see if there were any liens against them. Fourth, I ran the comps for the houses in the neighborhood and look at the rating for the schools within the district. Fifth, know what your limit is on what your final bid will be and do not bid over that amount just to win the auction. Other tips, try to get ahold of the agent that is representing the property and just ask them if they are willing to let you see the property inside, all they can say is no, right? I hope this helps. Wait, miscellaneous stuff, It is true, all auctions on this site are STRICKLY in favor of the seller... Negotiating is near to none.

Have your real estate agent search title. If the property is occupied, you will have to get the people out yourself.

If you win the auction it is a binding contract. Contracts are to be E signed within like 2hrs I think. Most are sold as is. Due your homework before you buy! Mark

The bank can and will bid against you to get a higher price (shilling). Read the web site. This practice is illegal everywhere else. But get the banks a higher price.

1st auction.com does not outbid bidders because you think they want to. They go by instructions from the trustee/bank. There is an opening bid and a reserve bid. The auctioneer can only bid on behalf of the creditor from the opening bid to the reserve. Once they reach the reserve they will NOT up the bid anymore. They may say " do I have any other bidders or do I hear (amount)" but they do not bid past the reserve that has been predetermined before the auction. If the property is reverted (sold back to the creditor) then the trustee/creditor for that property can do whatever they want with it. Whether it is sending it to inline auction or etc. If you will read/listen to the general terms and conditions then you will hear/see that auction.com is not a title company they do not research the properties sent to them by the trustees. They list what they are given. So don't you think you should have an issue with the trustee and not auction.com. Also, stated in conditions the trustee can rescind the sale at any time. Again how does that fall on auction.com if the trustee backs out. Auxtion.com works with many trustees throughout the United States so if those are people's issues maybe they should do their due diligence and contact the trustee instead of giving auction.com such bad reviews.

The trustees don't allow the reserve to be shown. Nothing to do with auction.com. They go by the instructions the trustee sends them.

The best option is to go straight to the bank, if it's a bank foreclosure auction, and find who their listing agent/broker is. These sites are almost rigged to have the house go back to market or auction. That may be in the sites best interest, but not the banks... Especially if the time to pay property taxes is coming up. Not an answer i know, but take my word for it, don't trust auction.com with as important an investment as your home is.

That is private information that is kept secret from you. It is all weighted to the advantage of Auction.com. They can back out of the deal at any time but you cant with our losing your earnest deposit, Put a bid in but 99,9% is you will not get the property. Good luck with these crooks after you have given them all your personal information and credit card #s

For $100 ask to go in and look around. Remember that what you see today may not be what you get in 6 months. The $100 is the best money that you can spend. Remember if the home is occupied that chances are that it is a foreclosure or as others have said the worst of the worst. Make sure that you have an experienced real estate lawyer!