Reply To: Anyone participated in an house auction?
When you buy at auction on a non-foreclosure all the due diligence work is done before the auction and should be available for all bidders to examine before the auction. Typically the auctioneer doesn’t share the appraisal before the auction as to allow the bidders to determine it themselves.
Typically the winning bidder is required to pay 10% on the day of the auction and required to pay the balance within 30 days. The terms of the auction are usually posted or available upon request