real estate auctions

[forgotten_aria]

Does anyone know anything about real estate auctions? Are they good places to get deals. It seems like a really scary concept to me, especially since you have to get the home inspected BEFORE bidding, which costs money.

Comments

[mama-pipa.livejournal.com]

What I have been told by my RE Agent is that often the bank who owns the property will have a secret bidder to make sure they get enough money on the auction for a property. If you go into an auction, I would check to see what the house was listed for before the auction, and review the history of pricing changes on that listing.