Auction.com is a good real estate website to search for foreclosed properties for sale. Home Auctions are another way to help your clients and investors find a home at a discounted auction price. I was impressed with auction.com customer service department. I called several times asking about the process of home auctions and they were always helpful.
Recently, my client had her eye on a foreclosed property that had gone to auction. I was pleasantly surprised the whole experience of purchasing a home auction has not been as expected. Auction.com is very organized and everything is disclosed to your client up front. There is a charge is 5% for the auction service added to the sales price. There are no seller repairs, concessions or inspections like foreclosed properties. Most of the auction properties are in need of repair similar to foreclosures. Home auctions are ideal for investors that want auction prices.
Top 10 Reasons to Buy at Home Auctions
- Low Prices/Good Deals
- User Friendly
- Digital Contracts
- Prompt Answers
- Less Work
- No Inspections
- Easy Forms to fill out
- Less Competition bidding
- Another way to serve your client
- Helpful Customer Service
When you "pre-bid" through auction.com you input information like bidding on a HUD Home. Auction.com will send the contract via Docusign and to the bank for approval or denial. You have only one chance to pre-bid before the auction, if they deny the bid you may bid for the live auction at the home at a specified date. The pre-bid commission from auction.com for the buyer's agent is 2.5%.
I encourage you to go to auction.com and check out the next live Home Auction in your area. You will be doing a great service to your client. If you have any questions call the Auction.com customer service department I am sure you will get a friendly person to walk you through the process buying a home at Auction.