No. Though most of our residential auctions take place online, a number of Auction.com’s foreclosure auctions are held live at public venues. If you're interested in attending a foreclosure auction that takes place at a public venue near you (outside of Florida), visit the Auction Calendar.
Find the property you're interested in, click on it and then click the "Register for this Auction" link in the Auction Details. From there you'll be asked to log in or create an account (if you don’t have one). Once logged in, follow the step-by-step registration instructions.
Some properties require additional bidding qualifications and will be identified as such. In such a case, an Auction.com staff member will contact you via email and telephone, providing specific instructions on how to gain approval to bid on these special properties. See the transaction details box entitled "Bidder Qualification" for the requirements and specific details.
Once you register for a property, gain bidding approval and do your due diligence, you are ready to bid. A step-by-step bidding guide and practice online bidding section can be found in the How to Guides. Check auction dates and times (and venue location for foreclosure auctions) so that you know when bidding ends.
We recommend using a credit card. Debit cards do not recognize this transaction, so the transaction may either be rejected or render the amount of the deposit unavailable in the account associated with the debit card. Bidders who do not win the auction will have the authorization hold on their credit card removed on the business day that follows the end of the auction. Bidders winning the auction will have their authorization hold released after their earnest money deposit has been verified and they have signed the purchase documentation. Such holds are subject to the card issuers' terms and conditions.
The amount required may vary depending on the property in which you show an interest. The typical hold amount to bid on a property is $2,500 but some holds may be as low as $1,000. Check the property page for the deposit amount owed.
Bidders who do not win the auction will have the authorization hold on their credit card removed on the business day that follows the end of the auction. Bidders winning the auction will have their authorization hold released after their earnest money deposit has been verified and they have signed the purchase documentation.
All you need to participate is an internet connection and a credit card. A pre-authorization hold will be placed (but not charged) on your credit card for the property you register for and intend to bid on. Please see the auction registration page for the amount of the hold.
The earnest money deposit is the amount of money you are required to pay on the day you are declared the winning bidder of an online auction. View the property page for the amount of the earnest money deposit required for the property in which you are interested.
The earnest money deposit must be paid by wire transfer or, in special circumstances, a cashier's check can be accepted. A confirmation that the wire transfer has been initiated by your bank must be provided by the close of the business day that immediately follows the end of the auction. There are no exceptions to this requirement.
Auction.com welcomes broker participation at many of our online auctions. There are a number of sellers, however, who do not offer broker participation. Please see the property page for more information with regards to agent/broker participation.
When registering for an auction, you will be asked whether or not you are represented by an agent, at which time you will be prompted to enter the agent’s information. Your broker is also required to register as a broker at least 24 hours prior to the start of the auction.
It is your responsibility to review the transaction details for each specific property to determine the type of title you will be receiving. We urge each bidder to conduct their own due diligence, to include researching the property’s title report and possible liens.
A small number of states have redemption periods. Please review the title report and, if necessary, seek the assistance of a real estate agent, title company or attorney to see if the property of interest has a redemption period.
Some properties on our site allow buyers to present a pre-auction bid to the seller before general bidding is opened. To place a pre-auction bid:
Locate a property you’d like to buy, then click on the “Pre-Auction Bid” button, if available.
Complete the bid form to submit a bid to the seller.
You will be asked to provide proof of funds for all cash transactions, present a pre-qualification letter for financeable transactions and provide any applicable entity documents verifying that you are an assigned signer of the contract (if purchasing under a company).
Please note that all properties are sold "As Is/Where Is" with no contingencies. All pre-auction bids are subject to seller confirmation and are not entered as an auction day bid. Failure to execute a pre-auction contract before general bidding opens will nullify the pre-auction bid.
Yes, but on most properties on our site, sales will not be contingent upon financing, escrow closing will not be contingent upon financing, nor will escrow closing be extended for that purpose. Winning bidders providing their own financing must present a written lending commitment from their lender at the time they are declared the winning bidder. Bidders must also allow sellers to confirm the bidder's credit status.