Auction.com

[Scott Carder]

Does anyone have experience with this site. I have found a house to bid on, it is un-occupied. It says the winner will get a quit claim deed. I checked the tax rolls and it is owned by MorEquity. How do you find out if the house will be "free and clear"? I would hate to bid on it and find liens on the property after the fact.

[Mark Lenox]

I am a new investor in the Cleveland burbs market (one rehab complete so far).  I have come back to the BP forum a number of times now to re-read about auction.com. I have heeded the vast majority of advice about it and stayed away, but I do keep coming back.

Why? Because when I am house hunting, there are so many that come up on auction.com (and occasionally other auction sites).  So, there must be people obtaining properties this way.  Otherwise, banks would not be listing their foreclosures this way, right?  If all of the smart investors stayed away from these auction sites, my thought is that they would wither and die off.  Instead, I see listing after listing come up as auction.com or hubzu or some other auction site to be wary of.

So, my point finally is that there must be investors out there who are making this work.  If one of you is reading this, many of us here would sure like to know how.  There's got to be a strategy that works or they wouldn't still be around.

Thoughts?