Home › Forums › Closed Forums › Buying and Selling RE › Anybody ever had a positive experience buying a house at auction ?
- This topic has 10 replies, 3 voices, and was last updated 15 years, 9 months ago by sdduuuude.
-
AuthorPosts
-
January 5, 2009 at 9:57 PM #14758January 5, 2009 at 10:25 PM #324601CoronitaParticipant
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.
4)Huge fees to the auction house you pay.
January 5, 2009 at 10:25 PM #324939CoronitaParticipantThe 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.
4)Huge fees to the auction house you pay.
January 5, 2009 at 10:25 PM #325009CoronitaParticipantThe 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.
4)Huge fees to the auction house you pay.
January 5, 2009 at 10:25 PM #325024CoronitaParticipantThe 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.
4)Huge fees to the auction house you pay.
January 5, 2009 at 10:25 PM #325105CoronitaParticipantThe 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.
4)Huge fees to the auction house you pay.
January 6, 2009 at 9:08 AM #324776sdduuuudeParticipantI imagine they would be awesome if I was the only bidder in the room. Until then, stay away.
January 6, 2009 at 9:08 AM #325111sdduuuudeParticipantI imagine they would be awesome if I was the only bidder in the room. Until then, stay away.
January 6, 2009 at 9:08 AM #325181sdduuuudeParticipantI imagine they would be awesome if I was the only bidder in the room. Until then, stay away.
January 6, 2009 at 9:08 AM #325198sdduuuudeParticipantI imagine they would be awesome if I was the only bidder in the room. Until then, stay away.
January 6, 2009 at 9:08 AM #325280sdduuuudeParticipantI imagine they would be awesome if I was the only bidder in the room. Until then, stay away.
-
AuthorPosts
- The forum ‘Buying and Selling RE’ is closed to new topics and replies.