how to get information on condition of home up for public auction?

Asked by Jerry, Prescott, AZ Sun Sep 13, 2009

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JERRY CECIL, Agent, PRESCOTT, AZ
Tue Feb 16, 2010
Many auctions will set-up viewing days a few days before the auction. Go to the auction website and look into this. Talk to a Realtor, some of these homes are listed on the MLS. A Realtor can let you in to see the place.
Having said that, be careful about auctions. The people involved are not looking after your best interests. In fact, most auctions are geared for unrepresented people. If you are looking for good deals, hire a Realtor. They know the area and the inventory. Sometimes, the best deals can't be found in auctions. These days, some of the best deals are simply on the open market.

By the way, love the name.
Web Reference:  http://jerrycecil.com
1 vote
Ann Howell, Agent, Prescott, AZ
Sun Jan 10, 2010
Jerry,

I just wanted to add that it is very important to contact a title officer to run title on any property that you are considering buying at auction. This type of purchase can be very high risk if you do not know what you are doing because you are not afforded the same protections you would get if you went through a real estate agent and traditional escrow [with associated inspections]. In the case of trustee sales, a deal may not be a deal at all!!! There may be more value in the listed REO and Short Sale options available.

As far as condition??? A drive by and talking to the neighbors is important. There may be some history on the property in the MLS and the aforementioned title search. Aside from that, you take a risk.
0 votes
Brad Bergami…, Agent, Prescott, AZ
Sun Sep 13, 2009
Most of the homes that are up for "public auction" are also listed in the MLS. The best way to get condition is to hire a Buyer's agent and go inside.
The public auctions that I have been to have not been 'true' auctions they are usually contingent upon the lender accepting highest bid after the auction is over if the highest bid is not accepted the property is not sold, and may go back up on the action block or back on the MLS. Either way you need to have representation.
Good luck,
Brad
The Bergamini Group
Web Reference:  http://bradbergamini.com
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