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Updated over 6 years ago on . Most recent reply

User Stats

86
Posts
22
Votes
Abraham Kaplan
  • Investor
22
Votes |
86
Posts

Bidding on an Auction website

Abraham Kaplan
  • Investor
Posted

Need advice for a property that is listed on an auction website. The property is in Roswell NM. This is the only forum in NM that I know of. The current bid is $111,000. In RESS the comparables are around 160k. It is 3 bed, 2 bathroom, 1775 sqft. It is a historical house. Since it's up for auction I can't go in the house. But I walked around the property. In my amateur opinion it's in very good shape. The inspection document on the auction site has a few photos in the inside and it looks good. Doesn't appear to need any major repairs or upgrades. The auction is cash only but will also accept a hard money loan. I don't have enough experience to look at photos and determine if the property is worth an investment. Any suggestions? The bidding end on 11/1/18 at 1pm MST. Thanks

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