Home Buying in 47905>Question Details

Ness, Both Buyer and Seller in West Lafayette, IN

Auction,com site ..Whats the skinny on these people ..Most still have people in them ..Have to pay cash ...And no way to look inside ..Scam or What ?

Asked by Ness, West Lafayette, IN Fri Dec 13, 2013

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If you are looking to purchase real estate, you would be well advised to work with those who help in buying and selling dozens of homes every year.
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They will be able to shed some light on the 'skinny' that puzzles you.
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And of course..we all know there's no scams on the internet.
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If you are a serious and qualified buyer, pick up the phone and call a real estate professional.
0 votes Thank Flag Link Fri Dec 13, 2013
I can't speak to the specific website, but I will say this, buying homes at a foreclosure auction is a very risky business and is generally only done by the most experienced and skilled investors. There are a lot of websites that do nothing but print a list of the homes scheduled for auction and that information is public information, probably available for free at the county courthouse. Auctions often are put off, postponed for one reason or another, so you have to check back at the last minute to be sure the home you are interested in is still being auctioned as originally advertised. And, the bank auctioning the house is going to demand a minimum payment, and if they don't get it, they will 'take the house back' and list it as a foreclosed home.

These websites are not necessarily a 'scam' but you need to be careful to read the terms and conditions so you know exactly what you can expect to get for your money.

the best advice I can give to the average buyer or investor who are interested in purchasing distressed properties at a discount is to find a good real estate professional to work with. No, they can't represent you at the auction, but they can represent you BEFORE the auction, as a buyer of a short sale property, and/or AFTER the auction, as the purchaser of a foreclosed home. Think about these options, it's a lot less risky and probably as good a bargain, or at least almost as good, as buying at auction and not knowing what you are going to actually get.
0 votes Thank Flag Link Fri Dec 13, 2013
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