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Updated over 8 years ago,

User Stats

6
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0
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Kevin Beck
  • Peabody, MA
0
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6
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Help! Trying to buy a property on "Auction.com"

Kevin Beck
  • Peabody, MA
Posted

Hi I am fairly new to the forums, I want to talk to any experts or those with experience with auction.com

The particular property im looking at say it was previously valued at 275000(according to auction.com) the tax assest value is about 240k . The auction is currently at 115k, it also says reserve has not been met. with some further digging i found lender bought it for 150k. There is also a "pending case" on this property few questions:

1. Is there anyway we can find out the reserve from an offline broker? 

2. I am assuming the sale to the lender was 150k, does that mean that is typically the reserve? is there any relationship to the previously valued price that is listed in listing or tax assessed value?

3. when i looked up "liens and mortgage doc" i see there was a pending case for about 50k. is there a way to find out if more info on this in terms of its role in the house.

4. whats the typical process and strategies used for auction.com -- do people tend to fire when its expiring down,j if i bid and lose is there any deposit taken on my end? is there a deposit needed if I win the bid and how long til i need to come up with earnest money check?

just trying to learn more about the process and any helpful tips & tricks

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