Auction Listings & FAQs

The seller chooses to sell some of their properties through a Traditional MLS Pathway, and other properties through an Auction Pathway. Each of these pathways has different pros and cons. The seller uses both pathways in order to constantly analyze which of these pathways is best given current market conditions, and then adjusts to send more homes to one pathway vs the other. Properties placed in the Auction Pathway are simply chosen at random.

The auction is taking place entirely online, at www.Auction.com. There is no in person auction. In order to place a bid, buyers must register at www.Auction.com and place their bids through the website.

No. The foreclosure process has fully completed. The property has already foreclosed and the mortgage company took back ownership of the property.   

When the seller chooses to sell a home through the Auction Pathway, the seller decides only hours after taking ownership. At that moment, the seller has no idea if the property is vacant or occupied, empty or full of leftover personal items, clean or dirty, nor if the property is safe or unsafe for showings. Since the seller doesn’t know any of these things, all homes in the Auction Pathway don’t allow interior access—even if they’re vacant, empty, clean, and safe.

Traditional lenders will not grant a buyer a home loan without first sending an appraiser to inspect the inside of the home. Since there is no interior access available, it would not be possible for an appraiser to inspect the home, making a traditional loan impossible. Therefore, the seller will only consider selling the property for cash, or to a buyer using a hard money loan where the lender does not do a traditional appraisal and does not need interior access. In addition to a hard money loan, buyers can often use a home equity line of credit to purchase as long as we know ahead of time. No matter how buyers purchase the home, they are welcome to refinance the home into a traditional mortgage after purchase.

Condition varies from on property to another. Although there may be damage or issues not showing in the photos, we do our best to make sure the MLS listing includes photos of the property in its actual condition as best we can.

The seller chooses a different "reserve amount" for each auction property. When the auction ends, if the high bidder has not bid at least the reserve amount the seller is not obligated to sell the property. The seller still may choose to sell the property to the high bidder even if the high bid has not reached the reserve amount. We do not know what the reserve amount is. However while viewing the property at www.Auction.com it will say whether or not the reserve has been met if you look near the current bid amount.

Buyers do not need a real estate agent to participate in the auction, but are welcome to use a real estate agent to help them navigate the transaction should they win the auction. Agents are not able to register buyers to bid. Buyers can very quickly and easily register themselves by going to www.Auction.com and navigating to the page for the property on which they'd like to bid. Upon winning the auction buyers will be given a Buyer Information Sheet to fill out. If a buyer has a real estate agent, it is on this sheet a buyer would indicate they have a real estate agent and include that agent's information. The seller does not know if a bidder is utilizing a real estate agent until after a bidder has won the auction and filled out their Buyer Information Sheet. 

If you do not have an agent we would be happy to represent you and help you navigate this process at no cost to you!

If you already have an agent, please have your agent contact us with any questions related to concessions.

Please note that if you are the winning bidder and also a licensed real estate agent, the seller will not offer concessions. 

If the auction ends and the high bid was not for at least the reserve amount, the seller may choose to try again and send the property back to auction the following week. If after some time the property continues to not sell through this auction pathway, the seller will remove the property from the Auction Pathway and place it in the Traditional MLS Pathway. When that happens, interior showings will be allowed, and buyers will be able to use a traditional loan to buy the property.

If you would like us to notify you when a property is available through the Traditional MLS Pathway, please contact us and let us know. We will let you know as soon as we know!