Posted by Bid’her or watch’her, I think I’ll watch… on September 25, 1999 at 13:23:40:
Sir, thank you for your wise words. There is nothing like taking a cold shower when you really need one and I hear your wisdom and receive it as such… THANKS. I use to attend auctions, it’s been many years but from a differant angle coming into it. I value what you have shared & I look very forward to what this sight has to offer. Hat’s off to you Bill…
Auction today, I want to bid ,HELP… - Posted by PLEASE I NEED SOME HELP ASAP…
Posted by PLEASE I NEED SOME HELP ASAP… on September 25, 1999 at 12:45:14:
It’s Saturday, I know Sorry for trying to get some one to respond, I am wondering is there any one out there??? I need to leave to go to an auction I just learned of a couple of days ago. The title is clean, it is a home on the river, 3000 sq.ft. landscaped, $10,000 escrowed $ for earnest they say is required. 50/50 share, owner,buyer on the closing costs. No min. bid. How do I do this??? Do I HAVE to have $ 10,000 in cash sitting to make this offer. The $ will not be used and is non-refundable if offer is accepted. What kind of clauses?? Can I make the offer and raise the $$, since I would have 30 days to do so. ( I know I will be busy, but this is what get’s me really going!! I need all the advice from experienced leaders… Much appreciated. I have sent e-mail to J.P. Vaughn. as well as to Mr. Behle. I know it is Sat. Can anyone Help ASAP???
With So Many Questions… - Posted by Bill K. (AZ)
Posted by Bill K. (AZ) on September 25, 1999 at 13:09:37:
…you’re not anywhere near ready to bid for a property at an auction. Based on the tone of your post, you are too desperate and unprepared.
Before you bid at your first auction, you MUST familiarize yourself with the bidding process in your area, know the value of any property you bid on, and know what you want to do with that property if you should win. Additionally, you need to research the title, to your satisfaction, so that you know for a fact that the title will be “free and clear” after the auction. Many unsuspecting bidders have “won” properties at auction only to find out that they were bidding on second or third mortgages/deeds of trust. Ouch!
No good deals are had by inexperienced bidders who MUST run off and bid at an auction on a property that they just found out about and haven’t researched. You want to be in control of any bidding that you do on a property. You sound terribly out-of-control at the moment. You are setting yourself up to be disappointed and lose a lot of money.
I would recommend that after you understand the bidding process in your area that you attend several auctions with the intent of JUST WATCHING what happens. Then, and only then, will you be able to make intelligent bids. It is encumbent upon you to know what you want to offer and STICK TO THAT NUMBER. Don’t get caught up in any bidding frenzy. Let someone else pay too much to the place.
You can find good deals at auctions. However, you must know what you are doing. With so many questions, I wouldn’t be bidding today. I’d be watching and learning.
I hope this helps.
Bill K. (AZ)