Auction.com experiences

[Joseph Leonard]

Can anyone provide their opinion on using Auction.com? Last week I found a home by auction.com, went to the house to check it out and decide to bid on it. I ran the numbers and the plan looked great. The auction was set to start on 2/20. 2/19 comes along and I notice that the property is no longer listed on auction.com. Apparently someone put in a pre-auction bid. After I learned this, I also put in a pre-auction backup bid at the highest number I wanted to bid by emailing auction.com (per their instructions) and the next day found out that the bank accepted the first pre-auction bid. My question is: Is this normally how things go on Auction.com or do most of the homes listed actually go to auction? If homes normally do not make it to auction then I would think it kind of changes a person's strategy and forces them to submit their highest bid as a pre-auction bid first. Thanks for any advice.

[Jay Hinrichs]

@Account Closed  competitive bidding wether from others or the lender is a fact ... just set your price and when your there you either won the bid or you pass... many times the properties will come back on and be rebid... as the deals cratered for some reason.