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Emmanuel Bar…, Real Estate Pro in 33897

What is your input on properties listed on auction.com

Asked by Emmanuel Barrios, 33897 Sat Mar 30, 2013

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4
Yanoska Diaz’s answer
No hidden gem in Miami Florida, properties listed at auction.com just like any other REO end up selling at fair market value or above.

Funny you mentioned the subject because I have been meaning to share a similar post:

Yesterday, an out of State Investor that found me on Trulia, contacted me via phone, then email, wanting to purchase a large number of properties here in Florida. He plans to find the "deals" at auction.com. He wants me to provide a price opinion prior to auction based on the lowest end of the market activity so that he can bid accordingly. Needless to say I have not replied to that email yet, I am still trying to figure out a way not to sound rude or pessimist. Any suggestions?
0 votes Thank Flag Link Sat Mar 30, 2013
In California, reading auction inventory lists is like reading the obituaries. Active brokers find out about the best distressed properties BEFORE they go to auction and snatch them up before the general public knows what happened.
0 votes Thank Flag Link Sat Mar 30, 2013
Most in my area have been fairly distressed and not all that much of a bargain once Buyers premium and other costs factored in. I have interested Buyers read the auction.com contract carefully, all have decided to pass.
0 votes Thank Flag Link Sat Mar 30, 2013
Those are usually physically distressed properties, but you get a hidden gem once in a while.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Mar 30, 2013
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