I am going to bid on an auction home today, sold some stocks I had to add to the kitty. Hoping to win auction 85K or less. House is rough but has good roof, no holes in walls but very dirty inside will need complete remodel.

Has anyone else bid on an auction home ?

I lost the auction, ran it up to 115k resale was only 128k made no sense to go any higher. it was grueling to sit and bid, every time you bid 3 minutes get added to auction which allows it to go up. 

1 hour ago, tony357 said:

Has anyone else bid on an auction home ?

Which auction site were you going through?

Sometimes a successful outcome at an auction means letting the item go.   You kept your head and stuck to your price point, so you did good!

6 hours ago, Sniper said:

Which auction site were you going through?

Auction.com

 

6 hours ago, 10X said:

Sometimes a successful outcome at an auction means letting the item go.   You kept your head and stuck to your price point, so you did good!

I went bit higher who ever was bidding bid 5k increments when it went down to 1k increments I guess trying to scare me off.

I did a few through Hubzu. I won 2 auctions, but my bid didn't meet the reserve price. After the second "win" we found a house and bought it through an agent. 

Bought 2 short sales and a foreclosure, never wanted to get involved in a live auction pissing contest for something that expensive.