Real estate auctions

[Seneca Stephens]

I noticed a house in my neighborhood up for public auction on auction.com, thought it could make a nice rental property and I wonder if a anyone in North Carolina, or more specifically Greensboro has purchased property through an auction?  I figure that this way wouldn't be ideal starting out, plus I don't have the funds to even consider participating but the thought was intriguing.

[David Lee]

I have purchased threw auction.com 2 times now. It has worked out fine for me. You have to have cash on most of them. I have been watching some in my area and they have been back up over 10 times. I think that it's because people don't have the funds because they want let you get a loan for it. Usually even if you don't met the reserve they will send the offer to the bank and it can take up to 15 days got them to decide. So if it came back up pretty fast it's most likely because they didn't have the funds not because they didn't meet the reserve. I can answer any other questions you have also.