Auction purchase in Knoxville, TN

[Pavak Shah]

I haven't purchase any property so far but I am looking actively for good deals in Knoxville,TN. I was talking to one of my friends and he mention about online auction. Any one has any experience in online auction. Is there anything in specific that we need to consider?

Thanks in advance.

[Payton Abernathy]

@Pavak Shah, 

We have purchased two forclosures on online auctions. They were pretty good deals. The important thing to consider is that many auctions will be completed unsuccessful. Many times the banks will or have a reserve that will not be met. Don't get frustrated , just keep bidding your best and highest offer. Even if the reserve is not met , some banks will honor the highest bid. Many properties you can not view prior to bidding , so be careful what you get into. Some are even occupied still. There are many deals to find online just as there are in person. So I would recommend you search everywhere for your best option while looking online as well.