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Updated over 9 years ago,
REO purchases
Ok, I am perusing the Auction.com website looking at properties in my area and i see properties with a bid price within my reach for my first flip. Looks like an opportunity to pickup on my first. But, you only see the couple of pictures of the outside and there is a flag on the posting that says do not disturb the residents.
So, is it "safe" to bid on units in this case that you cannot substantiate the value or the repair effort? Is this simply part of the gamble you take?
If the unit is occupied, does that mean you have to absorb the expense of eviction?