How To Handle A Post Auction Property
I found a property that had an auction, I was a few days late for the auction. I spoke to the owner and was told that the house did sell but the buyer has not gotten back in touch with them yet. I want this house to live in. I told the owner that I would call back in a few days to see if the buyer claimed the property. I did ask the owner how long the house had been on the market. He told me that it had been listed with a realtor for six months, I didn't ask him how long they've been holding it before listing it with a realtor. At the auction it went for 135k, would it be an insult to offer 10-12k below that if the buyer doesn't show? I'm hoping the owners are desperate to be rid of it. What do you guys think?
Quinn
In california you bring cash to the auction and must pay for it on the spot. Maybe the new owner is not in a hurry.
Here in Mass, need a check for 5k, and close in 30 days. no exceptions. States vary with their rules, you may need to find out the dirt on that anwser before this one can be anwsered
[addsig]
Quote:
On 2003-11-30 23:12, bobo2 wrote:
In california you bring cash to the auction and must pay for it on the spot. Maybe the new owner is not in a hurry.
OMG that is funny.
I can see it now someone does a stick up at an auction with 20 bidders and gets away with 1 mil in cash. [ Edited by MrMike on Date 11/30/2003 ]
It's the same here in Ohio. 100% cash on most of the properties but on a few others you only need 10% down at the auction.