Updated over 8 years ago on . Most recent reply
Auction com questions
Does anyone have any resources they can recommend for learning more about the auction.com process. I called and spoke to one of their customer service reps and there were some questions I guess they couldnt answer fully. I guess I am looking for someone with experience with the auction process to help me fill in the blanks.
For example, will they take a hard money lender when they say "cash only" . Are they really looking for cash only or a quick close? What is the time frame to pay? Is that going to be different on every house?
Would you have to go through the eviction process if the previous owner wont move out? If you win the bid, and the bid comes in lower than the debt on the property, are you responsible for the remainder of that previous loan? And finally, what is a broker coop? How does that work?
It would be awesome if someone could at least answer some of these questions. I know this is going to be one of those things you just have to do in order to learn all the details, but it wouldnt hurt for me to try to pull back the curtain at least a little before I dive in!