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Old 08-20-2008, 08:47 AM
 
Location: Here and there, you decide.
11,573 posts, read 22,669,562 times
Reputation: 3882

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anyone have any experience with these.. there is one on saturday... ive already looked at the house, needs work of course, and am thinking to lowball the offer.
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Old 08-21-2008, 12:53 AM
 
35 posts, read 86,944 times
Reputation: 16
Quote:
Originally Posted by felicia6394 View Post
If you will wait a little while i can get u something very nice so let me know how soon u need it and what is the ball park thanks
Why do you keep soliciting for business in this forum? Other realtors are not that crude and brash. I do not believe it is allowed.
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Old 08-21-2008, 09:10 AM
 
Location: Las Vegas
3,728 posts, read 8,211,182 times
Reputation: 1311
Quote:
Originally Posted by felicia6394 View Post
If you will wait a little while i can get u something very nice so let me know how soon u need it and what is the ball park thanks
We have several licensed realtors on this board already felicia...

They do not solicit business...
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Old 08-21-2008, 11:25 AM
 
Location: Here and there, you decide.
11,573 posts, read 22,669,562 times
Reputation: 3882
crazy thing, i am being solicited by a realtor? i am also a licensed realtor but not familiar with the auction thing...

and Felicia - you cannot solicit on this site so please stop... consider yourself warned
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Old 08-21-2008, 11:47 AM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,096,673 times
Reputation: 952
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Old 08-21-2008, 11:50 AM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,096,673 times
Reputation: 952
Quote:
Originally Posted by airics View Post
crazy thing, i am being solicited by a realtor? i am also a licensed realtor but not familiar with the auction thing...

and Felicia - you cannot solicit on this site so please stop... consider yourself warned
In all seriousness airics, is this the auction you are referring to?

http://ushomeauction.com/auction_details.php?chkVenue (broken link)

I have a colleague out of CA that went to one of these. Most of the properties that were halfway decent were bid up to market at a minimum. He eventually bought a couple of MLS REO's which he got a great deal on and is cash flow positive on both.
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Old 08-21-2008, 11:57 AM
 
Location: Here and there, you decide.
11,573 posts, read 22,669,562 times
Reputation: 3882
no the company is hudson and marshall.. i am figuring the stuff is bid up just like the car auctions that i attend.. however this one accepts absentee bids and there is no reserve
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Old 08-21-2008, 12:08 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,096,673 times
Reputation: 952
Quote:
Originally Posted by airics View Post
no the company is hudson and marshall.. i am figuring the stuff is bid up just like the car auctions that i attend.. however this one accepts absentee bids and there is no reserve
That one seems much more bidder friendly than the one I posted. I believe that the US Home Auction requires a cash deposit to even walk through the door, so Hudson and Marshall is already a step ahead of them on that. They both charge a buyer's premium fee and I believe that they are equal amounts. If you have the cash for the winning bid deposit and are extremely confident in your ability to obtain financing (unless you are paying cash of course) then you should be fine and will likely have a great time, unless of course you don't get a winning bid!
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Old 08-21-2008, 12:39 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,479,957 times
Reputation: 2661
Default Pass the grain of salt

Checked out a couple earlier in the year. Discovered that virtually all were subject to a "reserve".

That of course means the auction is simply a bid to the lender which can be taken or left as the lender sees fit. I see no reason why this is a better formant than just making a deal with the lender.

Note that I recognize some of the properties. They are effectively the dogs left after everything salable has gone.
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Old 08-21-2008, 01:41 PM
 
Location: Here and there, you decide.
11,573 posts, read 22,669,562 times
Reputation: 3882
the house i am looking at needs work.. probably $25k or so.... i was thinking of lowballing to see what happens... other houses sold for around 130k, i was thinking 75 ish
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