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Updated over 17 years ago on .

Roc P.'s profile image
Roc P.'s profile image
Roc P.
  • from Philly Area, Pennsylvania
  • Member since Jan 7, 2008
Connect

User Stats

297
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26
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Roc P.'s profile image
Roc P.'s profile image
Roc P.
  • from Philly Area, Pennsylvania
  • Member since Jan 7, 2008
Connect
Roc P.
  • Philly Area, PA
26
Votes |
297
Posts
Foreclosures

First REO auction

Roc P.
  • Philly Area, PA
Posted

I just went to my first REO auction where I just sat in on the event to get a feel for the whole process. Overall the whole process was a not as hectic as I thought it would be and only took 15 minutes. The Marshall explained about the 10% needed down plus all the liens would have to be paid up, etc.

The whole thing felt like a game of poker the only difference being you can't bluff the 10% down.

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