The REDC auctions, based on what I have heard from friends that attended have plenty of shills upbidding the homes.
And friend of mine noted he was able to purchase a condo in Carmel Valley (The Heights) directly from the seller well below what some of the auctions closed at… weeks after the auction, when there were inventory left. Go figure.
There’s plenty of fine print in the auctions.
Just a couple come to mind.
1)Even if you have the winning bid, seller not obligated to sell to you.
2)You often “win” the bid even though you weren’t the highest bidder. (in case the highest bidder was the shill)
3)Virtually no contingencies, including loan i believe.
