Has anyone won/completed sale in So. California’s Lender Foreclsoure Home Auction? REDC/Hudson and Marshall
So. Cal Auction only!!! Was wondering if any of you actually won at the auction and now currently own the property? Sold either by REDC (ushomeauction.com) /Hudson and Marshall are the two i’m curious about.
I’ve heard many different stories.
1) I hear that most of the auctioned homes don’t even goto the highest bidder, most of them are being sold after the auction either by soliciation or Realtor (MLS listing).
2)Will it be worth while to try to purchase at one of the auctions? 5% commision on top of the highest bid and performing home inspection ($ 400-$ 700/home) on day of open house if the home is vacant. You might not even win!!!!
3) What’s you experience?
4) Are LENDERS willing to negotiate? (35%-50% below market value?)
5) Have any of you purchased a home in the past few months? How much below market value (%) were you able to buy your home for?
6) or for those of you waiting. How much below market(%) are you going to wait before purchasing a home in So. California?