Any luck using online Auctions like Auction.com?

[David Robertson]

I was recently looking at listed properties and came across a property that was listed at significantly less than the others in the area. I looked further and the property is listed through Auction.com.

The property is 3 bedroom 2 bathroom 1/2 duplex and appears to be in decent shape and is in a strong school district. The property is currently bidding for $11,5000 and I think the property could retail for around $65,000 with some work and rent for approximately $700 per month.

Does anybody have any experience with Auction.com, good or bad?

I'm assuming this it is like ebay and if the reserve is not met the property doesn't sell?

Who typically owns these properties?