site j.

Update 2/20/2014. To be fair, I recently heard of someone in our area who supposedly did get a good deal on this site, but I don't know the details. So I guess it is possible. But I will re-iterate this point. The bids start artificially low and in every case I've seen you have to bid it up quite a ways to get it. And it depends ultimately if you intend to live it in or not. As an example. I bid on a house that started at 45,000 twice. The estimated value of the home after 20,000 of fix up was 145,000. This was verified by my very experienced Realtor who has sold homes in this area. I gave up bidding on it after two online auctions. I looked recently in the public records to see it ultimately sold for 120,000. I'm not exactly sure what the people where thinking who bought it, but it sure didnt' seem like a very good deal to me. After paying cash and fixing it up, it will be worth pretty much what they have into it. I wouldn't usually pay full price for a house I can't even go inside to check its condition. You might as well buy one off the regular market in that case.

Original review:

Don't be lured in by their opening bids thinking you will get a great deal, the opening bids they post are false bids to get people excited to bid on their properties. They are not even close to the minimum bids the bank will accept so you waste your time thinking you will get a good deal. Believe me I've bid on several of them.

In fact, in my area there currently at least 4 houses that have been put up for bid over and over and over (maybe at least 6 times) on their web site over two months. The opening bid is ridiculously low ($*******) but even after the price is bid up to $1******* plus, it never sells. Even if they say it does, it shows up again on the web site next week again.

These houses like most of them are in poor shape and need 10's of thousands of repair but they keep holding out for full price as if they are fixed up! It's a waste of time.

Waste of time with a crappy company (unless of course you want to get ripped off!)