All Forum Posts by: Joe Henderson

Good advice. Yes, the roof will not be 'pretty' either way. I just want it to work as it should. I still do not think they can do a good jib- too many issues so far. I will get some good bids for EPDM and go from there.  The GacoRoof just seems like a band-aid and will be an obvious issue with future buyers.

This might be answered on another forum but I trust the good advice here most always and need some guidance, 

After buying the property at auction we have started the renovation. One of the first items was the roof. The house in a Mid Century Modern modified A-Frame with a flat roof of about 1000 square feet. To make it short- we hired a local roofing company with about 1000 all positive reviews. Their bid was competitive and we were pleased with the way they came across. All of the companies would use the GAF Liberty product except one that would have torched down a roof. About 2 months ago they installed the roof and we were pleased about most of it with a couple items that were cosmetic that need attention. It has been an historic drought here in Georgia and the first time it rained was 2 weeks ago. We had multiple leaks during the heavy rain. After over a week we finally got someone to come out and have a look. There were a couple of areas with some ponding. He said that could be an issue and would get with the owner. After a week of more rain and leaks and a couple calls I finally got the owner to come out. Long story short he said the GAF product was not for flat roofs and should never have been put down. He has suggested putting down a silicone coating called GacoRoof that is for under water use.

I have reservations about them doing anything else since we have so many issues with not on their poor work but also the unresponsiveness I think they have shown. It's the first time I have ever had an issue with the way a service has been provided and not sure if I have any other option that to let them try and fix the issue with something other that a new roof. I mean they sold us on a product they should have known would not preform well- how can I trust them? I would prefer to get another company to lay down something better like EPDM. They have not been paid for any of the services yet BTW. What would you all suggest? Do I have any viable options other that letting them cover a new roof with ugly gray silicone?

A quick update since I am sure someone might have the same questions I had at some point.

Our first pre-auction offer was rejected. This came 5 days (3 business) after submitting it. A basic email with no name or such saying it was rejected and we could submit anther if we liked. I had called a couple of times before asking about the status and always got a different answer. "Usually it takes 3 days", "It should only take 2 business days but this screen has so much information I cannot really tell". 

So today I submitted another pre-auction bid a few thousand above the first. After a couple of hours I received a poorly worded email from a real person there stating there was a "marketing period" that would expire on July 25 and then the seller would consider my offer. I take that to mean we reached, or at least close, to reserve and they will consider the offer. They asked if it was our best and final and then told us to respond and agree to the terms and conditions stated in the ad. If the seller accepts then we have 24 hours to sign the contract and submit the EMD. So they are really not in a hurry until the seller agrees and then it's rush, rush, rush to get the money.

Really unimpressed so far. If we did not really want this house I would walk away fast. Seems unprofessional at best. The more and more I learn though it seems like the entire real estate business is the same.

@Chad U.

Thank you for that. The prior report only had 2 junior liens that should have dropped off after foreclosure. If the offer is accepted I will use my own sources for title insurance instead of the auction companies people- to me it is money well spent.

Still have heard nothing from them regarding the offer. A telephone call to auction.com yesterday only revealed that the offer was not rejected. And pushing again about the reserve he would only say that "I can see why they are considering the offer". Would be a lot easier for everyone if they just posted the reserve.

Have not heard but will call today. Read another BP post where a bidder was told the property had to be 'advertised' on the site for 5 days before they would decide on a bid. If that is the case I need to wait a day or 2 more. Not a lot of detail provided by auction.com on the process for sure. Either way I will update soon.

Thanks Peter. The inspection part, at least of this property, doesn't concern me. I've got enough experience and have had a good look at it and the price will cover any unseen issues. Again, this one is for us so I look at it a little differently than if I wanted it as a short term investment.

I will reach out if they accept the bid.

Thanks very much Wayne, that makes sense. I have no problem paying for a title company myself. Having the EM refunded if clear title cannot be delivered would be great and alleviate a lot of worry. Those things should be specified in the contract. 

Thank you Russell and Ned. We have an offer in but have not heard yet, so no contract, just trying to find out ahead of time. So so far there isn't an answer regarding when I would be able to find out whether it is an insurable title. Looks like we will wait to see if they accept and review the contract. Still hoping there is someone here who has actually bought a property through auction.com's online auction and could relate their experience.

I purchased a title and encumbrance report before it went to the foreclosure auction where it did not meet reserve. Now it's bank owned at the online auction. The comments on the auction.com listing are listed on all the listings the same- appears to be standard auction.com stuff.

Why would you state that it sounds like it is uninsurable? What did I miss?

I was hoping someone who has purchased a property a auction could answer. The main idea being at what point do you know about the title insurance? At closing or before?

We have placed a pre-auction bud at auction.com and have a title insurance question. Reading a lot of posts have not answered ours.

Auction.com states: "Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typ...").

The 'if' in there is worrisome. If I understand correctly title insurance is bought at closing usually through their (auction.com's) title company. Seems pretty obvious a buyer would like to know the answer to this 'if' before the last minute and preferably before handing over any money. If title insurance cannot be bought then a quitclaim deed is given- not very appealing to me.

Can someone school us a little on this and what steps we should take if our offer is accepted. It is Dekalb County Georgia and a cash sale.