Posted by Paul on March 18, 2002 at 20:07:30:
Kim,
Don’t be discouraged by my experience. I get the feeling this was not the norm. I am still going to go, I just wanted to be a bit more educated the next time I went.
RE Auction Tips? - Posted by Paul
Posted by Paul on March 17, 2002 at 24:07:24:
I recently went to an auction at our county courthouse to see if I could learn a thing or two.
Well, to say the least I did. I learned how corrupt and cut throat it can be. I tried talking to the auctionier and when I asked simple questions like where do I register for the auction he said “You register with me, and if I think you have the money, after an auction or two I might let you win a bid.” Then, I asked where I could a list of the properties being auctioned, and after the auction what the properties were sold for and who won them. He told me that a lot of the properties are sold before the auction even starts. And, if I “hooked him up” before the auction I may be able to get property or two.
The story goes on and on, but my primary questions here are
- Is the auctionier a state or county employee?
- Is the auction sale data typically available somewhere after the auction?
Re: RE Auction Tips?/ He’s not a real auctioneer - Posted by ccreia
Posted by ccreia on March 17, 2002 at 07:14:10:
You need to find out who he is. Our Auction company did 11 auctions this month and I want investors to come to my auctions. Depending on what state you were in the foreclosure laws are different. He is licensed by the state and is held to the same ethics as a Realtor and even an Attorney as far as trust accounts and contracts go.
I auctioned a house Tuesday and I only had 8 peple there, the house sold for 11k more than the seller had expected. I was told by one bidder he would pay 25k and another he would pay 30k. The house sold for $36,750. to someone who had never been to one of my sales. Im doing another sale April 6th and you can bet I will personally stop by his office and give him a flier and make an appt. with him to see the house privitely. I make no arguements that I work for the Seller when doing a sale but if I dont give my buyers respect I will not have any of them after a year or so.
I guess what Im saying is you have someone who is paid by the government to do this and he is not a real auctioneer. Ask him for his name and license number if he has one tell him you want to be hooked up as he said then turn his a@@ in to the commission in your state. I hope this helpled and if you need more info on auctions and how we do them please email me.
Our REIA website is listed below please feel free to download the newsletters, its free. We sell nothing on our site just give away information.
ccreia
www.ccreia.org
Re: RE Auction Tips?/ He’s not a real auctioneer - Posted by Paul
Posted by Paul on March 17, 2002 at 10:36:05:
Thank you very much for the the feedback. I was pretty discouraged after that experience. It is certainly not something you get a warm and fuzzy about for your first experience.
Re: RE Auction Tips?/ He’s not a real auctioneer - Posted by Kim (FL)
Posted by Kim (FL) on March 18, 2002 at 07:01:58:
I was planning on going to my first auction tomorrow. Now I’m wondering if I should even bother!!! 