Real Estate Auction Warning

by Dave on October 22, 2009

The highest bid doesn’t necessarily mean you’ve won…

Tagged as: auction, buying, estate, Foreclosure, home, Housing, lease, real, ripoff

{ 10 comments… read them below or add one }

Anonymous 10.22.09 at 8:54 pm: Fuck these lenders, why are they wasting everyone’s time at auctions? If they don’t want to sell the property at what the market is willing to pay then what is the point?
Anonymous 10.22.09 at 8:54 pm: yup, That’s Capitolism
Anonymous 10.22.09 at 8:54 pm: Actually, today the gov’t owns banks and corporations (GM, etc).
Anonymous 10.22.09 at 8:54 pm: Would you sell an asset for 10 cents on a dollar? Then why should a bank?
I auction this stuff for a living; owners (individuals, banks, credit unions, who ever) want a fair market value.
And that’s wrong?
Anonymous 10.22.09 at 8:54 pm: Not so. I auction real estate for a living. Auction buyers are WAY more informed than contract buyers (I’m a Realtor too). Just sold a home for a couple that needed a fast sale, got them $27k more than they thought, buyer happy, seller happy and home appraised just fine.
Anonymous 10.22.09 at 8:54 pm: Banks and Corporations run our nation and government.

Still don’t get it?
Anonymous 10.22.09 at 8:54 pm: can you do the same to them… say you bid on it and won.. and say never mind dont want it… what then… they go cry like bitches!
Anonymous 10.22.09 at 8:54 pm: Auctions are just a way to get money out of a worthless house. If the houses we worth more money you can bet they would have sold them on the regular market. No one puts homes on auction sale just to be nice to buyers. If you price a house right (even in today’s market) you can sell it within days on the regular market.
Anonymous 10.22.09 at 8:54 pm: SOLD FOR 100,000 oh wait… 4,000,000 thank you?
Anonymous 10.22.09 at 8:54 pm: What are the outcomes of those lawsuits? Are people just told to read the fine print?

Real Estate Auction Warning

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