Anybody have experience buying REO through Xome.com?

[Charlie MacPherson]

I'm looking at an REO that is a prospective fix & flip for a client and the property is listed with a local brokerage. The MLS listing states that offers must be submitted through Xome.com.

Looking at Xome, it states that there's an auction ending in 4 hours. Current bid is $150,000, MLS listing is at $249,000.

One of the conditions is: "Pre-Auction Offers - Offers must be submitted at least 48 hours prior to the start of the Auction Event. If the Pre-Auction offer is not accepted by the Seller before the Auction starts, it will be deemed rejected. If rejected, we encourage all buyers to bid once the Auction begins."

I'm wondering about waiting for the auction to end, then submitting a ((ARV X 65%) - rehab costs) offer. Has anybody successfully submitted such an offer with Xome?

Any other advice on dealing with them?