This was an auction where the opening bid was $19,000. There is usually an undeclared reserve, which I am assuming was not met, since it was listed on 8/2/12 in the MLS for $84,000 and that listing is currently active.
A couple of things to watch for on Auctions...read carefully...the really low price on line is usually an opening bid with no expectations of selling near that price...aka a teaser.
Check and see what the Buyer's premium is. Buyers pay the auction company a fee, anywhere from an average of 7-10% of the selling price.
All inspections and research must be done BEFORE the auction date. You need to go to the auction with a certified bank check as escrow. Check the auction websites to see what they require.
Check online reviews on the auction company.
I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.
Broker Associate, GRI, SFR, CDM, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761