Auction.com
Visit Auction.comAuction.com is a real estate auction platform that specializes in selling properties acquired through foreclosure, government seizure, and bank liquidation. The company operates as an online marketplace where buyers can bid on residential homes, commercial buildings, vacant land, and development properties across the United States. The platform is owned by Auction.com, Inc., which has been operating since 1997. They work directly with federal agencies, banks, and mortgage servicers to list properties that need to be sold quickly. Most listings are real estate, though some auctions include equipment and vehicles from government surplus. Bidding on Auction.com typically works in phases. Properties start with an opening bid set by the seller, and buyers can place incremental bids online. Most auctions run for a set period, often 7 to 10 days, though some properties use live auction events. You'll need to register an account and verify your identity before bidding. The platform requires a deposit or proof of funds to establish bidding eligibility, which varies by property value. When you win an auction on Auction.com, you're expected to close within a specific timeframe, usually 30 days or less. Payment methods include wire transfer, cashier's check, and sometimes credit card for deposits. Inspection opportunities are typically available before the auction closes, though access varies by property condition and location. For buyers new to Auction.com, set a budget ceiling beforehand and understand that as-is sales mean no warranties on property condition. The platform provides property photos, basic information, and auction details, but you should always conduct your own inspection and research before bidding.
Frequently Asked Questions
How do I register and start bidding on Auction.com?
To bid on Auction.com, you'll need to create an online account with your email and basic information. After registration, you must verify your identity and provide proof of funds or a deposit to establish bidding eligibility. The deposit amount depends on the property price, and it's held in escrow until closing. Once approved, you can place bids on active auctions immediately. The verification process usually takes 1 to 2 business days.
What payment methods does Auction.com accept?
Auction.com accepts wire transfers, cashier's checks, and certified checks for down payments and closing costs. For initial deposits to verify bidding eligibility, some properties allow credit or debit card payments. At closing, most transactions require wire transfer to the escrow or title company. You should confirm accepted payment methods with Auction.com directly, as requirements can vary by property and location.
Can I inspect a property before bidding on Auction.com?
Inspection availability varies by property. Many Auction.com listings offer scheduled inspection windows before the auction closes, which are listed on the property page. For some properties, especially those in poor condition or with limited access, inspections may be restricted or unavailable. You'll find inspection details in the property description or auction terms. Contact Auction.com directly if you have questions about accessing a specific property before placing your bid.
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