BUYING HOUSES ON AUCTION.COM | AREN 107

This week we sit down with Tim Johnson from Auction.com. Auction.com is the nation's largest marketplace for distressed properties. Tim discusses the process of buying a home on Auction.com and what you can expect throughout the process. He also shares some due diligence items you should look into when purchasing homes sometimes sight unseen.
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[@timjohnson5555]

edit....NC is a "Non-Judicial State". In North Carolina, most residential foreclosures are nonjudicial. This typically means the lender can foreclose without going to court so long as the deed of trust contains a power of sale clause. Though, North Carolina nonjudicial foreclosures usually involve one court hearing

[@AshevilleRealEstateNews]

Thanks for the update Tim! Would love to have you back on the show this fall.

[@joseporelmundo5514]

You forgot to mention that the Bank is also allowed to bid and always bid way higher to keep the property

[@myd0gr3x]

a Title Abstract should be attached to every property description, otherwise the Auction isn't actually selling a property, it's selling a liability...

[@Avsbk]

he just shared his experience, he is not answering to any question. just killed 38 minutes, he didn't share anything important.

[@joseporelmundo5514]

Listed agent never want to show you the property they tell you to find you an agent

[@fulana3456]

Listening for 5 minutes already and didn't say anything

[@jerrickcampbell3171]

Thank you so much for this interview

[@mikewhite9818]

If Auction.com was ethical they would show more pictures. They have them but do not show. Every house I have bought are in extremely poor shape. Worse than the minimum bid can justify.

[@bobsibert1968]

100%

[@lukelavelle6670]

That's a really shitty "firewall" for people like me, low income trying to just get up. Looks like I'm looking elsewhere

[@Zuddybuddy]

JV with other investors, do $10 options (least I made was $2k, most was $24,500....), wholesale with $100, use private lenders if you find a solid deal......

[@keyoneemadison996]

How do you find out what the reserve is and how to find out what ALL the closing cost are?

[@Themachineincmarte]

Thank you 🙏🏼 🙏🏼🙏🏼🙏🏼 for the information ℹ️

[@goodmorningfamily7051]

Thank you 🙏🏿 🕊.

[@johnathansawyer8736]

GREAT STUFF! Thanks so much for posting this.

[@Twenty3TC]

Thanks for the information.

[@AshevilleRealEstateNews]

Glad you found it helpful!

[@Ch-hg1iu]

Me me me jesus talk about the freaking auction.

[@jackware5609]

This was ok in some informative ways. I wish it would have been more direct in pointing out strategic ways to invest through the auction, instead of just general facts. In the future let the person who's being interviewed fully answer the question before interjecting. You were asking him and answering for him in parts all throughout the process.

[@AshevilleRealEstateNews]

Thanks for the feedback Jack. Good to know!

[@andrewramirez1286]

So do you get your $2500 back ? And what do you mean you tender the 5% or the line at 22:40

[@betterhomesnc2437]

As soon as he said "most trusted" I immediately didn't trust a word he said.

[@stayfocusedmedia]

Great video

[@JamesMcGovern2738]

To say that auction.com is the most trusted is intellectually dishonest. They could do a lot to increase transparency for buyers but choose not to.

[@mikewhite9818]

You are absolutely right. Very unethical company.

[@bobsibert1968]

Absolutely agree!

[@stayfocusedmedia]

Damn good questions

[@AshevilleRealEstateNews]

Glad you found it helpful!

[@RiverSLV]

Fantastic

[@AshevilleRealEstateNews]

Thanks for much for taking the time to check it out!!! Bets of luck if you're bidding!!!

[@user-ce6ii6ew6j]

Whats the minimum amount of money you need to win a bid

[@bethanyglover1573]

He said $1

[@stayfocusedmedia]

What about Illinois?

[@AshevilleRealEstateNews]

Not sure about that, we only focused on NC

[@angelrobinson2967]

Question, the total cost of the home will be the amount you bid on at auction? Or would it be the estimated resale value ?

[@tonytucker8651]

What you bid plus closing costs

[@romie7054]

It's the reserve price

[@charlinecharles5037]

Do I get my deposit or registration fee back if I don't win the bid?

[@FantasieZlove]

There is no deposit needed nor registration fee… you pay if you win.

[@breakfree1949]

I won’t invest 100k+ in a middle man company with 2.4 stars and horrid reviews.

[@mikewhite9818]

Too much babble not enough stay on point.

[@NolanFreeland]

It's literally a podcast...

[@Sage.photogrphy]

BS