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Updated almost 6 years ago on . Most recent reply

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Shanel Wiggins
  • Investor
  • New Jersey
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Auction

Shanel Wiggins
  • Investor
  • New Jersey
Posted

I'm looking for insight on buying single family homes on Auction.com (both in person & online).

If there's anyone who have purchased property from there before, what's the process and any pointers/advice/tips. 

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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
  • Rental Property Investor
  • St. Paul, MN
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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
  • Rental Property Investor
  • St. Paul, MN
Replied

I have purchased dozens from them. They have changed over the years, so know it is more of a headache in my experience. Most properties you can not go into and see, so you are guessing. Some have interior pictures and inspection reports that can help you out. The company also bids on the properties themselves to try and up the price, so it is best for you to have a max amount you are willing to pay and stick with it.

If you aren't seasoned, I would only buy the ones you can go inside to look at. Also, you may "win" a bid only to find out later that the seller rejected your offer. If you do get a deal done with them, just be patient. They are sometimes very unorganized and slow to deal with. I would check out Hubzu.com and Hudson and Marshall to see if they have properties in your area as well.

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