I have represented clients at two recent REDC home auctions. One in Stockton and another up in Sacramento and suggest you have representation. The seller pays 1% commission to the representing agent to assist the buyer in the paper work and the transaction after the purchase relating to inspections. Also, if you win, the auctioneer will tack on a 5% commission of the sales price. Other restrictions apply also.
Homes will sell. They have a booklet out that will tell you the homes they are selling and when the Open Houses are for those listings. Make time to visit the homes you're interested in.
Odds are tough to predict however, in that price range, depending on where they are located and the condition they are in they can be rough and would most likely need a cash offer and some repair. Some properties are also available with a 203 loan that will finance the repair cost needed. Sometimes it's a condo.
Rocky was right in that it depends on the homes offered and the persons attending. As for attending, the odds are 100% you will not get a home if you don't go. You should go just for the experience...it can be quite exciting.
Best of Luck!
2529 W. March Lane, Suite 103
It really depends on who attends and the homes that are offered for auction.
Good luck and let us all know how it goes.
Rocky G.H. Hawrysz
Broker Associate, Realtor, e-PRO
Prudential California Realty