auction.com

[Bill Zepeda]

Hello-

I'm interested to know if anyone has purchased a property through auction.com.  There are several properties being auctioned in my area, but I want to avoid any pitfalls associated with this type of transaction (title, occupancy, etc).  Any advice would be greatly appreciated!

[Naveen Desai]

Hi,

   Having started in 2010, probably appropriate times to get into real estate, the only avenue I know then was to go through auction.com.  I have done over 13 deals in span of 3 years and have stopped buying from there in last year or so, just because properties in CA( which I used to work on),  has not left any potential profits in flips.  So not interesting that way.

Otherwise, fairly decent site. But it is totally your own risk to research the properties and what you do with them. Nowadays there are different types of auctions and you need to know what type and understand before you step into the property.

Of all the 13 properties, I was bitten once, and huge ( upto 21K ) lien on property I bought and I had to pay and clear it. So that flip did just break even and no profits. All others have worked out a decent ROI.

Another reason why I stopped using this site, is back then I could bid for an auction, and could bid on any property in that auction slot.  Nowadays you have to do deposits on each property you want to bid upon.  Not fair, but its their way of doing business and they are still making it. Good for them, but I have since, gotten so many avenues to acquire properties, I don't see any greater advantage of using them anymore.

Thanks,