Auction.com listing

[Matthew Peterson]

I have three cash offers out now on REO and am waiting for 1 auction to hopefully come live pretty soon. There is an auction currently on auction.com though that I'd like to get some input on. My wife is wanting my agent to bid up to X amount on it. The property address is 4309 Springmill Court, Marietta GA. A few questions for those with experience with auction.com.

1) I know some have mentioned a reserve amount on these, but how much higher % wise generally is the reserve above the starting auction price?

2) Are all auctions cash only deals?

I would think on these higher end homes they wouldn't get bid up extremely high since not a lot of owner occupant buyers have $300-500K cash laying around.

[NA NA]

Auction.com is a site where you don't need a realtor and you can register free to bid.
There is live online chat and i was told by them the following info.
You need a small deposit submitted to each property you gonna bid.
If you win the auction you have to pay 10% same day to escrow officer and you have 30 days to pay cash or 45 to finance.
Your total price will be the amount you bid and BUYER PREMIUM on top.
Never bought property there but will love to save HUGE.

Register free online and ask ALL you can the online chat rep. BEFORE you bid.
Don't bid if you cant pay...you gonna loose your deposit .