buying property at on line Auctions - Posted by sema

import · July 27, 2010, 3:36pm

Posted by Rick Harmon on July 29, 2010 at 18:34:53:

If you’re asking did I originally obtain the vacant lots thru Bid4Assets? No. I bought directly from HUD many years prior (and well before either their site or internet existed!

import · July 27, 2010, 3:36pm

Posted by sema on July 27, 2010 at 15:36:57:

Does anybody use Bid4Assets: Storefront not found or is currently inactive? Deals seem to be too good to be true. What is the catch on those? Any input will be much appreciated?

There are some properties that seem OK and seller claims it to be free and clear- for example in FL state or NY.

Is it safe to purchase them via auction if seller claims free and clear?

I am asking my title company to do a search on some for liens, taxes.

Any other suggestions for due diligence?
Did anybody tried purchasing over the auctions on line? Your experience and suggestions will be much appreciated. I won’t be able to fly out of my state to go and check on the properties.

Thanks
Sam

import · July 28, 2010, 4:45pm

Re: buying property at on line Auctions - Posted by Rick Harmon

Posted by Rick Harmon on July 28, 2010 at 16:45:34:

I have never BID on their site, but know them to be legit from personal experience. Many of the county tax collectors throughout the U.S. contract with bid4assets.com.

Also, I had forgotten about a couple of defective vacant parcels that I had in Chino Hills, Ca and the county of San Bern had a tax auction for them with this site, perhaps 5-6 years ago.

I was happy because the buyer paid $125,000+ over taxes owed and all I had to do was apply for the overbid. That was a good thing.

Thank you, Bid4assets.com

import · July 28, 2010, 1:55pm

Re: buying property at on line Auctions - Posted by Rick Harmon

Posted by Rick Harmon on July 28, 2010 at 13:55:40:

I have never BID on their site, but know them to be legit from personal experience. Many of the county tax collectors throughout the U.S. contract with bid4assets.com.

Also, I had forgotten about a couple of defective vacant parcels that I had in Chino Hills, Ca and the county of San Bern had a tax auction for them with this site, perhaps 5-6 years ago.

I was happy because the buyer paid $125,000+ over taxes owed and all I had to do was apply for the overbid. That was a good thing.

Thank you, Bid4assets.com

import · July 28, 2010, 7:25am

Re: buying property at on line Auctions - Posted by ken in sc

Posted by ken in sc on July 28, 2010 at 07:25:31:

I have bought online from them. They are a bid company that represents several lenders. The one I bought was B of A as I recall. It was easy to bid online. I enjoyed the process and got a good deal to rehab. I have since tried some more and have been unsuccessul at getting the price I need. We closed my deal at a local attorney’s office like normal.

My house was listed with a local Realtor, but the listing just said to bid online - so I did. The online form assumed I had an agent. I actually AM an agent, but attempted to bid with no fee paid to me and a lower price. The computer couldnt understand this, and I ultinmately paid a slightly higher price but received a commissions check at closing.

import · July 28, 2010, 11:29pm

Re: buying property at on line Auctions - Posted by sam

Posted by sam on July 28, 2010 at 23:29:50:

Hi Rick;

thanks for the input did you get the vacant land at tax auction through Bid4Assets?

Sam