Eleanor Pres…, Other/Just Looking in Sacramento, CA

What is the requirement to bid on this house ?

Asked by Eleanor Presley, Sacramento, CA Fri Nov 1, 2013

This question was asked from http://=www.trulia.com%2Fproperty%2F3133993073-7700-Teekay-Way-Sacr… target="_blank" rel="nofollow">http://www.trulia.com/property/3133993073-7700-Teekay-Way-Sa…

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6
You could ask a real estate a agent to assist you with your bid as your paid representative. I believe Auction.com will allow a small representation fee to paid to your own agent out of the proceeds of the sale.

You can find an agent right here on Trulia at the top of this screen there is a button: "Find an Agent"

Or respond to one of the earlier posters in this thread: James Tan, Teri A , or Elizabeth W.
0 votes Thank Flag Link Tue Nov 5, 2013
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
The write states to visit their website. If their website is not working, go over this home with your Realtor.
0 votes Thank Flag Link Sat Nov 2, 2013
Hi Eleanor,

As defined by Auction.com there are 7 steps to the Residential Auction Process, which you can access here: http://www.auction.com/auction-process/residential.php

However, to be fully informed of your options please review this blog post that covers the 4 ways you can purchase distressed property:

"Distressed Property Purchasing: Understand Your 4 Risk Options!"
http://tinyurl.com/n3us8m6

-Steve
0 votes Thank Flag Link Sat Nov 2, 2013
Auction.com should have all the information. Call the 800 793 6107 for further info.

Note that typically you must bring a cashiers check for the down payment to be admitted to the live auction. Also note that some properties do not allow financing.

When buying through an auction like this, there is no inspection contingency. Make sure you inspect the property before bidding. It would be much harder to cancel and get your deposit back after winning the bid and signing on the dotted line.

I would suggest setting a limit for your self before entering the auction venue, you might get carried away. Also the bids are before the 5% premium.

Good luck.
0 votes Thank Flag Link Fri Nov 1, 2013
Go to auction.com
Note that $25,000 is only the starting bid, there may be a much higher reserve
And a Buyer premium on to of purchase price, read the fine print on the site
0 votes Thank Flag Link Fri Nov 1, 2013
You go to Auction.com and you top the present bid by meeting the reserve. And then you pay Auction.com a 5% premium.
0 votes Thank Flag Link Fri Nov 1, 2013
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