It was a definitely good learning opportunity for me as well. I can totally tell that if you don’t come in there with a max bid price in mind, the adrenaline that goes on during the bidding process can really make you overbid. Also, doesn’t seem like any of the winning bid is a deal. They all seem to be either market price or over market price. Which to me is horrible because you, as a buyer, take so much more risk buying at an auction than buying it through regular channel. So, my take is that, either all these bidders are just bank guys bidding it up to the reserve or these are your future FB. None of these properties are ready to move in. They all need some kind of work. At least the one i went to see.
For those you stayed around till near the end, do you know what the Rock Canyon Dr. sold for? This property have huge mold problem. It’s on every wall I can see. This house definitely need a complete overhauling before it’s even livable.
