Auction.com (Have you used it)

[Philip Jones]

Hey I been thinking about trying auction.com out for the 4th quarter and 1st of 2025. Have any of you used that platform for real estate investing before? If so how was your experience? Any recommendations 

[Jonathan Greene]

Quote from @Serge R.:

@Jonathan Greene

Do you know how Auction.com set the reserve price if property owned by FreddieMac ? I know from the a deed recorded last month that FreddieMac got house from foreclosed former owner for 180k. Opening bid is set at 70k. Can I assume reserve price will be the same 180k or do you think FM has a formula in place in which they are ok to let go at X% below their "purchase" price so as to not be left with the house on their hands ?

They will usually let it run through three or four times on the auction set without hitting the reserve and the formula for reduction, which is similar for REO on the market, is reduction of ten percent every thirty days until it sells.