Help with Auctions - Posted by mslexus

Posted by mslexus on January 24, 2007 at 20:54:21:

Yes, this is a Williams auction and there is no mention of the bank rejecting the offer. They even offer a Quick Close…same day.


310 Delevan St SW
Atlanta, GA 30310

W of Pitman Park. 2BR 1BA 800sf+- single-family. Built 1948. Approx .09ac lot. Taxes approx $875 ('05).

From I-20 & I-75/I-85: S 1.5 mi to University Ave. W to Windsor St. N to Delevan St. W to property.

1-4pm Sun. Dec. 17th and 2 hrs prior to sale.

Opening Bid

5:00pm Thursday, December 21st, 2006

Sold for $1,000.

Help with Auctions - Posted by mslexus

Posted by mslexus on January 24, 2007 at 08:22:23:

Anyone have any advise regarding Bank Owned real estate auctions? I went to take a look at some home where bidding started at 1K and one looked like a potential crack house and the others were fairly nice…anybody have luck with these…just seems unreal to buy home for about $4-5K. But it’s happening.

Re: Help with Auctions - Posted by Jack

Posted by Jack on January 24, 2007 at 20:20:06:

Presumably you are talking about the Williams auctions or something similar. It seems unreal to buy a home for about $4-5K because it is unreal (unless it is a mobile or falling down). The Seller (usually a Bank) has final approval on the sales price. I have bought one property this way, it was deal because it was a major fixer. Previously they auctioned the same property, but the winning bid was too low, so the Bank rejected that Bid and reauctioned it to me a few months later for $5,000 more. There were about 15 people at the auction prepared to bid on 3 different houses. Hardly a secret.

Re: Help with Auctions - Posted by arlanj

Posted by arlanj on January 24, 2007 at 09:04:12:

Some areas of the country, old foreclosed homes can be bought for a song. Buy some.