Auction.com Questions & Answers

$2500 hold on your credit card

Since you do not know what the final live price will be, you should bring a stack of cashier checks to cover any price up to you are willing to bid. For example, lets say you are willing to bid up to 277K but you have no idea how much the final price will be as it cold be anywhere from 240K to 280K. I would suggest bringing a cashiers check for 225K, 2-3 10K checks, 3-4 5K checks and 5 1K checks and maybe even 1 $500 check. That way you can instantly pay at any price from 225K up to your max of 277K. Most live auctions require you to pay right after close of auction, so best come prepared with many checks that can provide an exact payout.

Its just a pending amount that usually goes away in 2-3 days. They never actually charge you.

If you are asking this question, don't use auction.com... i would suggest getting an agent and working with your bank to understand costs of buying a home.

No, not necessarily.

Don't. Its not worth the headache

I have had mostly good experiences with this company on 50 purchases. Purchasing foreclosures is very risky. Do your due diligence, have you cash ready, and unless you are a seasoned professional investor and know the risks, hire good professional advisors (realtor, attorney, surveyor and contractor).

Scam

I was tempted by the house as I really wanted it. I am contacting the bank directly to make an offer. I should have listened to all the reviews!

No!