Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated about 6 years ago,
Newbie question about Auction.com
This is my first auction, i am using Auction.com, bidding on a property that has been up 5 times with only one bid each time to 15,000, the reserve was released at 49,900 at the 3rd listing, the 4th listing it was dropped to 36,901, we are now going into the 6th auction of this property, its valued at 84,000, the auction.com site upbids 5000.00 each time a bid is placed below reserve, would the smart play be to bid 25,000 or 30,000 and hope they reach out at the end if i am the high bidder of course? i cant find any info online on if its a common accurance for a bank to come down from the reserve or ask you to come up to it during these online forclosure auctions, any advice would be great, thank you!