Robert M.

Delays that have gone weeks beyond the 30 days stated in contract. Buyer is bound to contract, Seller is apparently not. Winterization companies destroying front doors and door frames to gain access. Notices posted on front doors after closing stating that they will secure the property again. Winterization company that went in the day before closing and stripped everything out that wasn't bolted down. Not getting access to many of the vacant homes so you can get an idea what you are bidding on. Being charged crazy amounts in closing costs such as $600 for a smoke detector installation and inspection. Total charged was $900 so I guess I am lucky to pay only $600? Lawyer for seller thought charges were justified. It was an "as is" property. Inspection was not even needed. I could have done it for $50 fire department inspection fee and $40 for detectors. Problems with getting clear titles so a closing can occur. Make sure all utilities are paid in full before you close so you don't get stuck paying them. I see a not for viewing listing for a tri-level that notes that pipes may be broken and water was coming out of lower level windows. What kind of mess is that going to be? $1000 or $20,000? I have bought 5 homes through auction.com and so far haven't been burned on a deal, but I do all the needed work myself. Much of the work is cosmetic with a few surprises along the way. Know your market and estimate high on what you think a house will need done and bid accordingly. Utilities, real estate taxes and insurance can eat into your profits if you plan to flip. And don't forget your real estate agent will want 6% commission to sell. If a property gets too high for you at auction.com, stop bidding. I see some properties that have been listed for many months. I don't know why they won't just publish a reserve on them and sell them.